Respuesta :
Answer:
Revenue: $45
Production Cost: $22
Profit: $23
Explanation:
Revenue is the money received from selling the product before costs are deducted. So Revenue would be $45
Ed Production cost include the following:
Cost of Materials for flower arrangement = $5
Labor cost = $12
Additional Costs = $5
Total Production Cost = $5+$12+$5 = $22
Ed profit on each flower arrangement will be The revenues minus costs:
$45 - $22 = $23
The revenue is $45, the total production cost $22, and the profit is $23 from the sale of the most popular arrangement.
What are revenue, cost, and profit?
Revenue is the amount received from the sale of a product. It is the selling price of the product.
Cost is the amount incurred on the production of a product. It is the total expense of production.
Profit is the earning from a product. It is calculated as the excess of revenue over costs.
The revenue of Ed from the most popular arrangement is $45
The cost can be calculated as follows:
[tex]\begin{aligned} \rm Cost &=\rm Material \:Cost + Employee\:expenses+ Additional\:Cost\\\\&= \$5 + \$12 + \$5\\\\&= \$22\end[/tex]
Therefore the profit will be:
[tex]\begin{aligned}\rm Profit &=\rm Revenue - Cost\\\\&= \$45 -\$22\\\\&= \$23\end[/tex]
Therefore the correct answers are:
[tex]\rm Revenue = \$45\\Cost =\$22\\Profit =\$23[/tex]
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