To represent the situation, we can formulate the two-variable equation based on the costs of T-shirts and jeans.
Let:
- \( x \) = number of T-shirts bought
- \( y \) = number of jeans bought
The cost of T-shirts is $10.50 each, so the total cost for T-shirts is \( 10.50x \). The cost of jeans is $24.50 each, so the total cost for jeans is \( 24.50y \).
Since Jose spends a total of $140 on T-shirts and jeans, we can represent this situation with the following equation:
\[ 10.50x + 24.50y = 140 \]
This is the two-variable equation that represents the given situation.