Answer:
a. $11.10
b. 1 689/1110
c. 1.62
d. 15 necklaces
e. $166.50
Step-by-step explanation:
Materials = $2.51
Labor = $4.38
Cost of production = $2.51 + $4.38
= $6.89
Sales price = $17.99
a. Profits = sales price - cost of production
= $17.99 - $6.89
= $11.10
Sally earn $11.10 when she sells a necklace
b. Sales price = $17.99
Profits = 11.10
Fraction of sale price that is profits = $17.99 / $11.10
Multiply both numerator and denominator by 100
= 1799/1110
= 1 689/1110
c. Sales price = $17.99
Profits = 11.10
Decimal of every dollar of the sale price of the necklace that is profit = $17.99 / $11.10
= 1.6207
Approximately 1.62
d. Total selling price of necklace = $269.85
Selling price of each necklace = $17.99
Number of necklace sold = Total selling price of necklace / Selling price of each necklace
= $269.85 / $17.99
= 15 necklaces
(e)
Profits earned per necklace = $11.10
Total profits earned = Profits earned per necklace × Number of necklace sold
= $11.10 × 15
= $166.50
