QuestionSell 30 dog collars; spent \$85 on materials. To profit \$50, how much per collar to earn at least \$135?

Studdy Solution

STEP 1

Assumptions1. The number of dog collars made is30. The cost of materials to make the collars is $853. The desired profit is$ 504. All collars will be sold at the same price5. All collars will be sold

STEP 2

First, we need to find the total amount of money you want to make from selling the dog collars. This is the sum of the cost of materials and the desired profit.
$Total\, revenue = Cost\, of\, materials + Desired\, profit$

STEP 3

Now, plug in the given values for the cost of materials and desired profit to calculate the total revenue.
$Total\, revenue = \$85 + \$50$

STEP 4

Calculate the total revenue.
$Total\, revenue = \$85 + \$50 = \$135$

STEP 5

Now that we have the total revenue, we can find the price per collar by dividing the total revenue by the number of collars.
$Price\, per\, collar = Total\, revenue / Number\, of\, collars$

STEP 6

Plug in the values for the total revenue and the number of collars to calculate the price per collar.
$Price\, per\, collar = \$135 /30$

STEP 7

Calculate the price per collar.
$Price\, per\, collar = \$135 /30 = \$4.5$ You should sell each collar for $4.5.

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