concessions math quiz\nquestion 8 of 10. four concession stands are selling snacks at the game. total…

concessions math quiz\nquestion 8 of 10. four concession stands are selling snacks at the game. total projected concession sales are $23,000. one vendor needs to recoup supply costs of $2,500 and pay her three employees $10/hour for the three - hour event before she makes a profit. if she captures 18 percent of the total sales, what will her profit be?\n a) $2,590\n b) $1,550\n c) $2,500\n d) $1,640

concessions math quiz\nquestion 8 of 10. four concession stands are selling snacks at the game. total projected concession sales are $23,000. one vendor needs to recoup supply costs of $2,500 and pay her three employees $10/hour for the three - hour event before she makes a profit. if she captures 18 percent of the total sales, what will her profit be?\n a) $2,590\n b) $1,550\n c) $2,500\n d) $1,640

Answer

Explanation:

Step1: Calculate the vendor's sales

The total projected concession sales are $23,000 and the vendor captures 18% of it. So the vendor's sales $S$ is $S = 23000\times0.18=4140$.

Step2: Calculate the total labor - cost

The vendor has 3 employees and pays them $10 per hour for 3 hours. So the total labor - cost $L$ is $L=3\times10\times3 = 90$.

Step3: Calculate the supply cost

The supply cost $C$ is $2500$.

Step4: Calculate the profit

The profit $P$ is calculated by subtracting the total cost (supply cost + labor cost) from the sales. So $P=S-(C + L)=4140-(2500 + 90)=4140 - 2590=1550$.

Answer:

b) $1,550