Q:

bryan sells gadgets at a price of $7 apiece. His average cost is $5 per gadget. On Monday, bryan sold 10 gadgets; on Tuseday, he sold 7 gadgets ; on Wednesday, he sold 9 gadgets;on thursday, he sold 11 gadgets and on friday,he sold 13 gadgets.5.what was bryans total revenue for the week?6.what was bryans total cost for the week?7.did bryan have a profit or a loss for the week?8.what was the dollar amount of bryans profit or loss for the week?

Accepted Solution

A:
Bryan's total sales/ revenue equals (10 * 7) + (7 * 7) + (9 * 7) + (11 * 7) + (13 *7) = $350 Bryan's total cost for the week = $350 But it cost him $5 a piece so his average cost = (10 * 5) + (5 * 7) + (9 *5) + (11 * 5) + (13 * 5) = $250. Yes, Bryan made a profit. Bryans profits = $350 - $250 = $100. The dollar equivalent = $100