scenario:ed is the proud new owner of a flower shop. his most popular arrangement sells for $45. ed has…

scenario:ed is the proud new owner of a flower shop. his most popular arrangement sells for $45. ed has determined that the cost of materials for this flower arrangement is $5. ed has also determined that it takes his employee about one hour to complete one arrangement, and this employee is paid $12 per hour. additional costs include $5 per arrangement to cover such expenses as rent and electricity. use the information presented in the scenario and the drop - down menus to answer these questions. eds revenue from selling his most popular arrangement is. eds total production costs for one flower arrangement are

scenario:ed is the proud new owner of a flower shop. his most popular arrangement sells for $45. ed has determined that the cost of materials for this flower arrangement is $5. ed has also determined that it takes his employee about one hour to complete one arrangement, and this employee is paid $12 per hour. additional costs include $5 per arrangement to cover such expenses as rent and electricity. use the information presented in the scenario and the drop - down menus to answer these questions. eds revenue from selling his most popular arrangement is. eds total production costs for one flower arrangement are

Answer

Explanation:

Step1: Define revenue

Revenue is the selling - price of a product. The selling price of the most popular arrangement is $45. So Ed's revenue from selling his most popular arrangement is $45.

Step2: Calculate total production costs

Total production costs = Material cost+Labor cost + Additional cost. Material cost = $5, Labor cost = $12 (since it takes 1 hour at $12 per hour), Additional cost = $5. Total production costs = $5 + $12+ $5=$22.

Answer:

Ed's revenue from selling his most popular arrangement is $45. Ed's total production costs for one flower arrangement are $22.