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

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

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New post 06 Feb 2015, 07:43
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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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New post 06 Feb 2015, 08:34
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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

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

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New post 06 Feb 2015, 09:58
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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
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Re: A factory produces x widgets per day. The factory's fixed costs are $8  [#permalink]

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New post 09 Feb 2015, 06:07
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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Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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

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New post 10 Jun 2018, 14:01
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Re: A factory produces x widgets per day. The factory's fixed costs are $8 &nbs [#permalink] 10 Jun 2018, 14:01
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