Kevin and Sarah’s friend Ally wants in on the entrepreneurial action and decides to sell her world famous Mega-Death Choco Cookies at fairs and church carnivals. She has learned the following calculations for gross margins: Gross margin (as a percent) = (Selling price – costs) / Selling price Gross profit in dollars = selling price – costs At the county fair she had the following results: Price for a dozen cookies = $12 Costs for ingredients = $3 Booth and table cloth = $150 Other fixed expenses = $200 In two days, she sold 214 dozen cookies (these are really good cookies)
What is the gross profit for all the cookies she sold?
Question 16 options:
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