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Question 102405: A toy company spends $1500 each day on plant costs plus $8 per toy for labor and materials. The toys sell for $12 each. How many toys must the company sell in one day to equal its daily costs?
Define a variable(s), write an equation and solve.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A toy company spends $1500 each day on plant costs plus $8 per toy for labor and materials. The toys sell for $12 each. How many toys must the company sell in one day to equal its daily costs?
Define a variable(s), write an equation and solve.
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Let number of toys made be "t".
Cost to stay in business: C(t) = 1500+8t
Income from selling toys: I(t) = 12t
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EQUATION:
Daily Cost = Daily Income
1500+8t = 12t
4t = 1500
t = 375
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The company must sell 375 toys per day to break even.
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Cheers,
Stan H.
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