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03 Jul 2019, 05:10
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
88% (01:11) correct
13%
(01:20)
wrong
based on 48
sessions
History
Date
Time
Result
Not Attempted Yet
It costs a certain bicycle factory $10,000 to operate for one month, plus $300 for each bicycle produced during the month. Each of the bicycles sells for a retail price of $700. The gross profit of the factory is measured by total income from sales minus the overall production costs of the bicycles. If 50 bicycles are produced and sold during the month, what is the factory's gross profit?
A. $10,000
B. $10,500
C. $11,000
D. $11,500
E. $12,000
A. $10,000
B. $10,500
C. $11,000
D. $11,500
E. $12,000
03 Jul 2019, 07:31
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Bunuel
It costs a certain bicycle factory $10,000 to operate for one month, plus $300 for each bicycle produced during the month. Each of the bicycles sells for a retail price of $700. The gross profit of the factory is measured by total income from sales minus the overall production costs of the bicycles. If 50 bicycles are produced and sold during the month, what is the factory's gross profit?
A. $10,000
B. $10,500
C. $11,000
D. $11,500
E. $12,000
A. $10,000
B. $10,500
C. $11,000
D. $11,500
E. $12,000
Cost Price = 50*300 + 10,000 (Operating cost) = 15,000 + 10,000 = 15,000 $
Selling Price = 50*700 = 35,000 $
Gross Profit = Selling Price - Cost Price = 35,000 - 25,000 = 10,000 $
IMO Option A
Pls Hit Kudos if you like the solution
himani2093
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Schools: Schulich "22 (A) Foster (II) BU (II) Fuqua '24 (S) Tepper '24 (S) W.P. Carey (S) Marshall '24 (S)
GRE 1: Q161 V157
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03 Jul 2019, 07:39
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Concept to be used-
SP-CP= Profit
CP = Fixed cost + No. of cycles * 300
= 10000 + 50* 30 = 25000
SP = 700* 50 = 35000
Profit = 10000 ie. A
+Kudos if liked the solution
SP-CP= Profit
CP = Fixed cost + No. of cycles * 300
= 10000 + 50* 30 = 25000
SP = 700* 50 = 35000
Profit = 10000 ie. A
+Kudos if liked the solution
