SOLUTION: Yuli sells quilts that she makes from her home. She sells each quilt for $500, but it costs her about $150 for the fabric, needles, and thread she uses for each. When she first dec

Question 219017: Yuli sells quilts that she makes from her home. She sells each quilt for $500, but it costs her about $150 for the fabric, needles, and thread she uses for each. When she first decided to start her business, she needed to invest in $1050 in a good sewing machine. How many quilts will she need to make in order for her to break even? How much money will she have spent by then?
1.list variables shown
2.system of equations you used to solve
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Yuli sells quilts that she makes from her home. She sells each quilt for $500, but it costs her about $150 for the fabric, needles, and thread she uses for each. When she first decided to start her business, she needed to invest in $1050 in a good sewing machine. How many quilts will she need to make in order for her to break even? How much money will she have spent by then?
:
1.list variables shown
Let n = number of quilts
Let C = cost
Let R = Revenue received
:
2.system of equations you used to solve
C = 150n + 1050
R = 500n
:
To break even, R = C, therefore
500n = 150n + 1050
500n - 150n = 1050
350n = 1050
n =
n = 3 quilts have to be sold to break even
:
How much money will she have spent by then?
Using the cost equation, n=3
C = 3(150) + 1050
C = 450 + 1050
C = $1500
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