If fixed costs to print a certain Bible are and
variable costs are per Bible, what must be the selling
price to earn per Bible if 5,000 Bibles are printed?

Ask by Moreno Robbins. in the United States

Jan 22,2025

Question

If fixed costs to print a certain Bible are $$ \$ 15,000 $$ and variable costs are $$ \$ 25 $$ per Bible, what must be the selling price to earn $$ \$ 10 $$ per Bible if 5,000 Bibles are printed?

UpStudy AI · Accepted Answer

To determine the selling price per Bible that allows you to earn a profit of \$10 per Bible when printing 5,000 Bibles, follow these steps:

1. **Calculate Total Fixed Costs:**
   $$
   \text{Fixed Costs} = \$15,000
   $$

2. **Calculate Total Variable Costs:**
   $$
   \text{Variable Cost per Bible} = \$25 \
   \text{Total Variable Costs} = \$25 \times 5,000 = \$125,000
   $$

3. **Determine Total Cost:**
   $$
   \text{Total Cost} = \text{Fixed Costs} + \text{Total Variable Costs} = \$15,000 + \$125,000 = \$140,000
   $$

4. **Calculate Desired Total Profit:**
   $$
   \text{Desired Profit per Bible} = \$10 \
   \text{Total Desired Profit} = \$10 \times 5,000 = \$50,000
   $$

5. **Determine Required Total Revenue:**
   $$
   \text{Total Revenue} = \text{Total Cost} + \text{Total Desired Profit} = \$140,000 + \$50,000 = \$190,000
   $$

6. **Find the Selling Price per Bible:**
   $$
   \text{Selling Price per Bible} = \frac{\text{Total Revenue}}{\text{Number of Bibles}} = \frac{\$190,000}{5,000} = \$38
   $$

**Conclusion:**  
You must set the selling price at **\$38 per Bible** to achieve a profit of \$10 per Bible when printing 5,000 Bibles.
To earn \$10 per Bible, you should sell each Bible for \$38.

If fixed costs to print a certain Bible are and
variable costs are per Bible, what must be the selling
price to earn per Bible if 5,000 Bibles are printed?

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If fixed costs to print a certain Bible are and variable costs are per Bible, what must be the selling price to earn per Bible if 5,000 Bibles are printed?