Simultaneous Equation query

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Vv20

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The question below. Im unsure what the fixed price would be. Is it just the $8 500 or the $8 500 + $7 000 or something else altogether?
I have included an example of one of my work outs (numbers seem high). I have also done with just the $8 500 being fixed price (numbers too low)
Any help, advice would be appreciated.

Tubby’s Toys has developed a new game for Christmas. The game costs $12.00 per unit to make. The design and development costs amounted to $8,500. Sale of this item over the two months Christmas period should also cover other costs of $7,000 and allow a profit of $5,000.
At a selling price of $22, how many must be sold before a profit can be made?
Y = Sx = 22x
Y = Cx + FC = 12x + 15 500
22x = 12x + 15 500
10x = 15 500
X = 1 500 units need to be sold. BE point.
Y = 22 x 1 500
Y = $33 000 Revenue
 
Vv20 said:
The question below. Im unsure what the fixed price would be. Is it just the $8 500 or the $8 500 + $7 000 or something else altogether?
I have included an example of one of my work outs (numbers seem high). I have also done with just the $8 500 being fixed price (numbers too low)
Any help, advice would be appreciated.

Tubby’s Toys has developed a new game for Christmas. The game costs $12.00 per unit to make. The design and development costs amounted to $8,500. Sale of this item over the two months Christmas period should also cover other costs of $7,000 and allow a profit of $5,000.
At a selling price of $22, how many must be sold before a profit can be made?
Y = Sx = 22x
Y = Cx + FC = 12x + 15 500
22x = 12x + 15 500
10x = 15 500
X = 1 500 units need to be sold. BE point.
Y = 22 x 1 500
Y = $33 000 Revenue
Click to expand...
Could you name your variables and fix numbers like "15 500" (space instead of comma)?
 
Hi lev888
Thanks for looking at the question. You have all the details i have. Confusing i know.
15,000 is the number format that's easier to see?
 
Vv20 said:
Hi lev888
Thanks for looking at the question. You have all the details i have. Confusing i know.
15,000 is the number format that's easier to see?
Click to expand...
Sorry, but I am asking for more details in YOUR solution. Why can't you explain your variables?
And "15 500" is very easy to see - it's 2 numbers: 15 and 500. If you mean 15500, please either remove the space or use a comma instead.
 
Tubby’s Toys has developed a new game for Christmas. The game costs $12.00 per unit to make. The design and development costs amounted to $8,500. Sale of this item over the two months Christmas period should also cover other costs of $7,000 and allow a profit of $5,000.
At a selling price of $22, how many must be sold before a profit can be made?
Y = Sx = 22x
Y = Cx + FC = 12x + 15,500
22x = 12x + 15,500
10x = 15,500
X = 1,500 units need to be sold. BE point.
Y = 22 x 1,500
Y = $33,000 Revenue

Variables : 22 - 12
= 10
8,500 - 7000
= 1,500 (or would it be the full $7,000?)
If i knew how to work this problem out, i wouldn't ask for help. Your only viewing one workout, i have pages full of trying things different ways.
And if that's not confusing enough, then there's the 2 months, $7,000 extra cost and the $5,000 profit. I've only just started learning this stuff, and this one has too many possibilities. I'm lost.
 
Vv20 said:
Tubby’s Toys has developed a new game for Christmas. The game costs $12.00 per unit to make. The design and development costs amounted to $8,500. Sale of this item over the two months Christmas period should also cover other costs of $7,000 and allow a profit of $5,000.
At a selling price of $22, how many must be sold before a profit can be made?
Y = Sx = 22x
Y = Cx + FC = 12x + 15,500
22x = 12x + 15,500
10x = 15,500
X = 1,500 units need to be sold. BE point.
Y = 22 x 1,500
Y = $33,000 Revenue

Variables : 22 - 12
= 10
8,500 - 7000
= 1,500 (or would it be the full $7,000?)
If i knew how to work this problem out, i wouldn't ask for help. Your only viewing one workout, i have pages full of trying things different ways.
And if that's not confusing enough, then there's the 2 months, $7,000 extra cost and the $5,000 profit. I've only just started learning this stuff, and this one has too many possibilities. I'm lost.
Click to expand...
If you want to understand how to solve this problem you must to be able to explain the meaning of your variables.
"Variables : 22 - 12" - what does this mean?
I am looking for "Y is ..., S is ..., x is ..., C is ..., F is ..."
 
mistake above
10x = 15,500
x = 1,550
Y = 22 x 1550
y = 34,100
 
Ok. Got it
Y = Revenue (at the end it does anyhow)
X = Units
C = Cost
FP = Fixed price
S = Sell
So the 22 - 12
= S - C
 
more mistakes
Y = 10 x 1,550
Y = 15,500

Ok. Here are a few other things i have tried.
Y - FC = ???
15,500 - 8,500 = 7,000
So thats the FC and $7,000 taken care of, but what about the $5,000 profit over 2 months? Where does that fit in, or is that useless information?
 
What if FC?

These are your variables. If you don't know what your own variables mean then you will not be able to solve the problem. Please understand that. We are not here to solve the problem for you. Rather we are here to help you solve your own problem. The first step is for you to know what your variables mean. Now before you move on first define all the unknowns and then and only then try to write some equations. If any are wrong then we will give you the best help there is on figuring out why they are wrong. Thank you and please post back.
 
Hi
Talked to lecturer today. Seems i'm on the right track with my first equation (minus the mistakes of course). Fixed price is $8,500 + $7,000 = $15,500.
No variables needed in this equation as far as i can see, but will check again later.
Note * I do not paste questions on here hoping someone will answer the question for me. Rather i post questions, to ask if i am using the correct formula, or what formula i can use. With the correct formula, i am able to solve most.
This site is a great thing, helping people with math problems. And i do like the fact that advice is given on how to solve problems, rather than the problems being solved.
Thank you for answering post.

I will post solution next week to this question. ( i still have to do other questions on my worksheet )
 
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