Avendor prepares 100.00 hotdogs every day and sells at $20.00/piece. for each hot dog, he spends $12.00 in the raw material. additionally he spends $1.00 for packing each hotdog and monthly $50.00, $20.00, $10.00 as food truck rent, electricity and other expenses respectively. on a particular day in june it rained heavily so vendor was able to sell only 80.00 hot dogs. for finishing the stock he sold remaining hotdogs for $5.00/piece. determine vendor's profit for that day? assume there are 30 days in the month.

The vendor's profit for that day was $ 397.4

Explanation:

From the question given,we determine vendor's profit for that day

The profit of the vendor for that day is calculated as shown below:

= ( Sales value - variable cost ) + sale value of leftover units - fixed cost per day

Sales value is computed as follows:

= ( 100 units - 20 units ) x $ 20 per unit

= $ 1,600

Variable cost is computed as follows:

= 100 units x ( $ 12 + $ 1 )

= $ 1,300

The  Sale value of leftover units is computed as follows:

= 20 units x $ 5

= $ 100

The fixed cost per day is calculated as follows:

= Food truck rent + electricity + other expenses

= ($50 + $20 + $10) / 30

= $ 2.6 Approximately

So by plugging these values in the above mentioned formula, we shall get vendor's profit as:

= ( $ 1,600 - $ 1,300 ) + $ 100 - $ 2.6

= $ 397.4

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself

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