A store sells toaster ovenstoaster ovens for $4646 each, retail price. The wholesale cost to stock the ovensovens is $ 28$28 each. The fixed cost associated with acquiring the ovensovens, storing them in inventory, using shelf space, and advertising the ovensovens for sale is $25002500. a. Write a function for the total cost of stocking the ovensovens for sale. b. Write a function for the total revenue received from selling the ovensovens. c. Write a system of equations and determine the number of ovensovens that must be sold to break even.

Question

04-10-2017
Mathematics

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A store sells toaster ovenstoaster ovens for $4646 each, retail price. The wholesale cost to stock the ovensovens is $ 28$28 each. The fixed cost associated with acquiring the ovensovens, storing them in inventory, using shelf space, and advertising the ovensovens for sale is $25002500. a. Write a function for the total cost of stocking the ovensovens for sale. b. Write a function for the total revenue received from selling the ovensovens. c. Write a system of equations and determine the number of ovensovens that must be sold to break even.

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merlynthewhizz merlynthewhizz · Answer 1 · 2017-10-04T21:57:33+02:00

Selling price = $46 per toaster

Stocking cost = $28 per toaster
Fixed cost = $2500

a) Let the number of toasters be 'x'
The total cost of stocking for sale = 28x + 2500

b) Let the number of toasters be 'x'
Total revenue received from selling the toasters = 46x

c) Break-even is when the cost of production is equal to profit made
So, we can set up the break-even equation as:
Production cost = Revenue cost
28x + 2500 = 46x
2500 = 46x - 28x
2500 = 18x
x = 138.9 ⇒ Rounded to 139 ovens