Profit on each tray sold excluding labor cost
= $35-$14
= $21
Total labor cost for making party tray for a day
Total labor hours * wages per hour* No. of labors
= $7 * $8*2
= $112
Number of trays must be sold to cover cost will be:
= Total labor cost for making party tray for a day/ Profit on each tray sold excluding labor cost
= $112/$21
= 5.33
5.33 trays must be sold to cover all costs including labor.
5.33 trays must be sold to cover all costs including labour.
The amount of money earned by any seller on the cost price is called the profit.
Profit on each tray sold excluding labour cost
= $35-$14
= $21
Total labour cost for making party tray for a day will be calculated as:-
= Total labour hours x wages per hour x No. of labour
= $7 x $8 x 2
= $112
A number of trays that must be sold to cover the cost will be:
= Total labour cost for making party tray for a day/ Profit on each tray sold excluding labour cost
= $112 / $21
= 5.33
Therefore 5.33 trays must be sold to cover all costs including labour.
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