To determine the total profit, we need to calculate the expenses and subtract them from the total investment.
Let's assume you can sell each cake for $30 (this price is not mentioned in the question, but we need it to calculate the profit).
First, let's calculate the total cost of making each cake:
$14 per cake.
Next, let's calculate the number of cakes you can make with the total investment:
Number of cakes = total investment / cost per cake
Number of cakes = $10,000 / $14 = 714.29
Since we can't have a fraction of a cake, we'll round down to the nearest whole number:
Number of cakes = 714
Now, let's calculate the total revenue:
Total revenue = number of cakes * selling price per cake
Total revenue = 714 * $30 = $21,420
Now, let's calculate the total expenses:
Total expenses = number of cakes * cost per cake
Total expenses = 714 * $14 = $9,996
Finally, let's calculate the total profit:
Total profit = total revenue - total expenses
Total profit = $21,420 - $9,996 = $11,424
Therefore, the total profit is $11,424.
You want to start a bakery business to earn money. The total amount of money you will invest is $10,000. You will be selling cakes. It will cost you $14 to make each cake.
Don’t forget that at the beginning of the process you had to spend some of your own money to get started. With the costs taken into account, what was your total profit?
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