unit VII Assign. Breaking Even How many tems nust you sel and predxe n anatysis uses breskeven point is the You will solve the are buainess owner whe produced a partiuar s What does the y coedinatle of the breakeven point epresent Breity explain one ten thal you will be producing and selling in your stoe 0 How many tems wil you need to sell in order to maie a proft of $2,500 Round to e 2 How much does the item cost you to produce Consider the cest and laber and smplty 3 How much wil sent product for? Select an anant between $1 and 00 The wth 2500 into the equatior for x Round to the 4 Wnte he cost function, Opi of produeing x amount of e Assume that you have a ed coat $5,000 place the 7 with the appropriate Wite the revenue funeten, Rox, from the sale of xt Replace the with the . Repace CO) and RCx) wth y he systens of equations below This means ht eeeet and reverue wd be the same wrte 7. Use the sabatitution method to solve the system of equations found in qvestion &. The port Show s safer to stay in Protected View. Enable Editing Unit VII Assignment: Breaking Even Breakeven analysis uses two functions to describe the revenue and cost of a particular product The breakeven point is the number of products that a business must produce and sell so that the money coming in is equal to the money going out. In this assignment, you will be asked to create a system of equations based on the cost and revenue of a particular business. You will solve the system to determine the business's breakeven point Instructions: Imagine that you are business owner who produced a particular item to sell in your new store. Answer questions 1-10. Save all of your work to this template and submit it in Blackboard for grading. 1. Briefly explain one item that you will be producing and selling in your store 2. How much does the item cost you to produce? Consider the cost of materials and labor. Select an amount between $1 and $50, Round to the nearest dollar Cost per item producedS 3. How much will you sell the product for? Select an amount between $1 and $100. The sold price must be more than what it costs to produce the item. Round to the nearest dollar Price per unit sold$ 4. Write the cost function, C(x), of producing x amount of items. Assume that you have a fixed cost $5,000. Replace the "? with the appropriate numbers. C(x) fixed cost + (cost per item produced)x) C(x) ?+ (x) 5. Write the revenue function, R(x), from the sale of x items. Replace the "7 with the appropriate numbers R(x) (price per item sold)(x) 6. Replace C(x) and R(x) with y. This means that the cost and revenue will be the same. Write the system of equations below Y write equation found for C(x) Y - write equation found for R(x) Use the substitution method to solve the system of equations found in question 6. The solution is the breakeven point. Show each step of your work below. Round your final answer for x to the nearest whole number and y to the nearest cent or two decimal places. 7. 8. How many items must you sell and produce in order to break even? 9. What does the y-coordinate of the breakeven point represent? 10. How many items will you need to sell in order to make a profit of $2.5002 Round to the nearest whole number First, find P(x). To do this, substitute the expressions for R(x) and C(x) found in questions 4 and 5 into the equation below and simplify P(x)-R(x)-C(x) Next, replace P(x) with 2500 into the equation above and solve for x. Round to the nearest whole number. Show your work below Answer You need to sell items in order to make a profit of $2.500 How much does the item cost you to produce? Consider the cost of materials and labor. Select an amount between $1 and $50. Round to the nearest dollar. 2. Cost per item produced = $ 1 g 3. How much will you sell the product for? Select an amount between $1 and $100. The sold price must be more than what it costs to produce the item. Round to the nearest dollar Price per unit soldS 2.29 Write the cost function, C(x), of producing x amount of items. Assume that you have a fixed cost $5,000. Replace the?" with the appropriate numbers 4. C(x) fixed cost + (cost per item produced)(x) C(x)? (?)(x) 5. Write the revenue function, R(x), from the sale of x items. Replace the "?" with the appropriate numbers. R(x) (price per item sold)(x) Replace C(x) and R(x) with y. This means that the cost and revenue will be the same. Write the system of equations below. . Y write equation found for C(x) Y = write equation found for R(x) Use the substitution method to solve the system of equations found in question 6. The solution is the breakeven point. Show each step of your work below. Round your final answer for x to the nearest whole number and y to the nearest cent or two decimal places. 8. How many items must you sell and produce in order to break even? 9. What does the y-coordinate of the breakeven point represent? 10. How many items will you need to sell in order to make a profit of $2,500? Round to the nearest whole number First, find P(x). To do this, substitute the expressions for R(x) and C(x) found in questions 4 and 5 into the equation below and simplify. P(x) R(x) -C(x) Next, replace P(x) with 2500 into the equation above and solve for x. Round to the nearest whole number. Show your work below Answer. You need to sell_items in order to make a profit of $2,500