Answer:
Profit on sale of 100 skateboards is $3000
Explanation:
Given:
Selling price of each skateboard = $45
Expenses include $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor
To find: Total profit the company earns after selling 100 boards
Solution:
Cost price of each skateboard = $3 + $1 + $1 + $10 = $15
Selling price of each skateboard = $45
Profit on sale of each skateboard = $45 - $15 = $30
Profit on sale of 100 skateboards = $30 × 100 = $3000
The total profit the company earns after selling 100 boards is $3,000.
First step is to calculate the total cost
Total cost=($3+ $1 + $1 + $10)×100
Total cost= $15×100
Total cost=$1,500
Second step is to calculate the total revenue
Total revenue=$45×100
Total revenue=$4,500
Third step is to calculate the total profit
Total profit=$4,500-$1,500
Total profit=$3,000
Inconclusion the total profit the company earns after selling 100 boards is $3,000.
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