Answer:
5. Bryans total revenue for the week was $350
6. Bryans total cost for the week was $250
7. Bryan has a profit
8. The dollar amount of profit was $100
Step-by-step explanation:
5.
To obtain the revenue of the week, you must take into account the price of each gadget and the quantity of gadgets sold. To calculate the latter, you must add the amount of gadgets sold each day of the week:
10+7+9+11+13=50 gadgets
So, as each gadget is sold at $ 7, the total amount of gadgets sold is multiplied by the sale price to get Bryan's revenue:
50 gadgets*$7 (each gadget)=$350
So, Bryans total revenue for the week was $350
6.
To calculate the total cost of the week, you must take into account, as in the previous case, the total amount of gadgets sold, which are 50 gadgets. But now, instead of multiplying them by the sale price of each gadget, you multiply it by the cost price of each, which is $ 5.
50 gadgets*$5 (each gadget)=$250
So, Bryans total cost for the week was $250
7. and 8.
The cost of gadgets are considered eg, because they are the expenses that a person makes for the buyout of materials. And the total revenue is the income that is obtained by the sale of, in this case, the gadgets.
To know if the sale of gadget generates profits or not, you must subtract the revenue that is generated minus the cost to make them. For this case, this is:
$350-$250
And you get $100.
As it is a positive number, this means that a profit was obtained and that its value was $ 100.
