extension activity
1. calculate your total revenue for the year at each price.
a. $25.00 per window × 20 windows per month × 12 months =
b. $30.00 per window × 20 windows per month × 10 months =
c. $35.00 per window × 5 windows per month × 12 months =
2. calculate your total variable costs for the year at each price.
a. 35 windows per week × 12 months × $24.25 variable cost =
b. 20 windows per week × 12 months × $24.25 variable cost =
c. 5 windows per week × 12 months × $24.25 variable cost =
3. calculate your total costs at each price (fixed costs + variable costs). remember, fixed costs are the same regardless of price or number of jobs done.
a. fixed cost $______ + variable cost $______ = total cost ______
b. fixed cost $______ + variable cost $______ = total cost ______
c. fixed cost $______ + variable cost $______ = total cost ______
4. calculate your potential profit at each price (total revenue - total cost = profit). remember, wages of $7.25 per hour for each of the partners is included in your costs. your business profit is over and above the money earned in wages.
a. total income $______ - total cost $______ = profit ______
b. total income $______ - total cost $______ = profit ______
c. total income $______ - total cost $______ = profit ______
5. another way to set prices is to do some research and compare the average cost charged by others in your area. how much should you and your friends charge to do each window? explain why.
6. because partners share the profit (or loss) earned by their business, will the success of your work be determined by the total wages or by the total income (or loss) of the business? why?
7. what are some ways you could bring down the fixed and variable costs to improve profits? how else could you improve income from your business?

Question

extension activity
1. calculate your total revenue for the year at each price.
   a. $25.00 per window × 20 windows per month × 12 months =
   b. $30.00 per window × 20 windows per month × 10 months =
   c. $35.00 per window × 5 windows per month × 12 months =
2. calculate your total variable costs for the year at each price.
   a. 35 windows per week × 12 months × $24.25 variable cost =
   b. 20 windows per week × 12 months × $24.25 variable cost =
   c. 5 windows per week × 12 months × $24.25 variable cost =
3. calculate your total costs at each price (fixed costs + variable costs). remember, fixed costs are the same regardless of price or number of jobs done.
   a. fixed cost $______ + variable cost $______ = total cost ______
   b. fixed cost $______ + variable cost $______ = total cost ______
   c. fixed cost $______ + variable cost $______ = total cost ______
4. calculate your potential profit at each price (total revenue - total cost = profit). remember, wages of $7.25 per hour for each of the partners is included in your costs. your business profit is over and above the money earned in wages.
   a. total income $______ - total cost $______ = profit ______
   b. total income $______ - total cost $______ = profit ______
   c. total income $______ - total cost $______ = profit ______
5. another way to set prices is to do some research and compare the average cost charged by others in your area. how much should you and your friends charge to do each window? explain why.
6. because partners share the profit (or loss) earned by their business, will the success of your work be determined by the total wages or by the total income (or loss) of the business? why?
7. what are some ways you could bring down the fixed and variable costs to improve profits? how else could you improve income from your business?

Accepted Answer

### 1a
# Explanation:
## Step1: Identify the formula for total revenue
Total Revenue = Price per window × Windows per month × Months in a year
## Step2: Substitute the values
Price per window = $25.00, Windows per month = 30, Months = 12
So, Total Revenue = $ 25.00\times30\times12 $
## Step3: Calculate the product
First, $ 25\times30 = 750 $, then $ 750\times12 = 9000 $
# Answer:
\$9000.00

### 1b
# Explanation:
## Step1: Use the total revenue formula
Total Revenue = Price per window × Windows per month × Months
## Step2: Substitute values
Price per window = $30.00, Windows per month = 20, Months = 10
Total Revenue = $ 30.00\times20\times10 $
## Step3: Compute the result
$ 30\times20 = 600 $, $ 600\times10 = 6000 $
# Answer:
\$6000.00

### 1c
# Explanation:
## Step1: Apply the revenue formula
Total Revenue = Price per window × Windows per month × Months
## Step2: Plug in the values
Price per window = $35.00, Windows per month = 15, Months = 12
Total Revenue = $ 35.00\times15\times12 $
## Step3: Calculate step - by - step
$ 35\times15 = 525 $, $ 525\times12 = 6300 $
# Answer:
\$6300.00

### 2a
# Explanation:
## Step1: Recall the variable cost formula
Total Variable Cost = Windows per week × Months in a year × Variable cost per window
## Step2: Substitute the values
Windows per week = 35, Months = 12, Variable cost per window = $24.25
Total Variable Cost = $ 35\times12\times24.25 $
## Step3: Calculate the product
First, $ 35\times12 = 420 $, then $ 420\times24.25 = 420\times(24 + 0.25)=420\times24+420\times0.25 = 10080+105 = 10185 $
# Answer:
\$10185.00

### 2b
# Explanation:
## Step1: Use the variable cost formula
Total Variable Cost = Windows per week × Months × Variable cost per window
## Step2: Substitute values
Windows per week = 20, Months = 12, Variable cost per window = $24.25
Total Variable Cost = $ 20\times12\times24.25 $
## Step3: Compute the result
$ 20\times12 = 240 $, $ 240\times24.25 = 240\times(24 + 0.25)=240\times24+240\times0.25 = 5760 + 60=5820 $
# Answer:
\$5820.00

### 2c
# Explanation:
## Step1: Apply the variable cost formula
Total Variable Cost = Windows per week × Months × Variable cost per window
## Step2: Plug in the values
Windows per week = 5, Months = 12, Variable cost per window = $24.25
Total Variable Cost = $ 5\times12\times24.25 $
## Step3: Calculate step - by - step
$ 5\times12 = 60 $, $ 60\times24.25 = 1455 $
# Answer:
\$1455.00

(Note: For questions 3 - 7, we need more information like the value of fixed costs to calculate total costs and profit. Also, questions 5 - 7 are more of descriptive or analytical questions. For question 3, we need the fixed cost value, for question 4 we need the result of total revenue from question 1 and total cost from question 3, and for questions 5 - 7, we need to provide explanations based on business concepts like pricing strategy, profit - sharing in partnership, cost - reduction strategies etc. If you can provide the missing information like fixed cost value, we can solve questions 3 - 7 completely.)

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QUESTION IMAGE

Question

Explanation:

1a

Step1: Identify the formula for total revenue

Step2: Substitute the values

Step3: Calculate the product

Step1: Use the total revenue formula

Step2: Substitute values

Step3: Compute the result

Step1: Apply the revenue formula

Step2: Plug in the values

Step3: Calculate step - by - step

Answer:

1b