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# A factory produces x widgets per day. The factory's fixed costs are \$8

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Math Expert
Joined: 02 Sep 2009
Posts: 52294
A factory produces x widgets per day. The factory's fixed costs are \$8  [#permalink]

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06 Feb 2015, 06:43
00:00

Difficulty:

15% (low)

Question Stats:

81% (02:07) correct 19% (02:19) wrong based on 162 sessions

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A factory produces x widgets per day. The factory's fixed costs are \$8000 per day. The price per widget is \$80 and the variable costs are \$20 per widget. How many widgets need to be produced for profits of \$5440 a day?

A. 42.33
B. 90.33
C. 168
D. 224
E. 400

Kudos for a correct solution.

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Re: A factory produces x widgets per day. The factory's fixed costs are \$8  [#permalink]

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06 Feb 2015, 07:34
1
Bunuel wrote:
A factory produces x widgets per day. The factory's fixed costs are \$8000 per day. The price per widget is \$80 and the variable costs are \$20 per widget. How many widgets need to be produced for profits of \$5440 a day?

A. 42.33
B. 90.33
C. 168
D. 224
E. 400

Kudos for a correct solution.

profits=5440=60x-8000 --> x=224

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Re: A factory produces x widgets per day. The factory's fixed costs are \$8  [#permalink]

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06 Feb 2015, 08:58
1
1
To make a profit we have to sell stuff at 8000+5440 = 13440
the actual selling price per widget is 80 - 20 = 60 so number of widget we need to sell = 13440/60=224>D
Math Expert
Joined: 02 Sep 2009
Posts: 52294
Re: A factory produces x widgets per day. The factory's fixed costs are \$8  [#permalink]

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09 Feb 2015, 05:07
Bunuel wrote:
A factory produces x widgets per day. The factory's fixed costs are \$8000 per day. The price per widget is \$80 and the variable costs are \$20 per widget. How many widgets need to be produced for profits of \$5440 a day?

A. 42.33
B. 90.33
C. 168
D. 224
E. 400

Kudos for a correct solution.

VERITAS PREP OFFICIAL SOLUTION:

Solution: D. Because the price of a widget is \$80 and the factory cost is \$20 per widget, the profit-per-widget is \$60. And since the factory needs to make up its \$8000 fixed cost and then make \$5440 profit, we can set up an equation:

60x = 8000 + 5440 60x = 13440 6x = 1344

At this point, you can probably get away with an estimate if you look at the answer choices. You know that 6 * 200 is 1200, so you need a number that's a little more than 200. The only one anywhere near that range is answer choice D, 224. Alternatively you could do the division to solve for x. 1344/6 = 224.
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Re: A factory produces x widgets per day. The factory's fixed costs are \$8  [#permalink]

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10 Jun 2018, 13:01
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: A factory produces x widgets per day. The factory's fixed costs are \$8 &nbs [#permalink] 10 Jun 2018, 13:01
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