It costs a shoe company $24.60 to produce one pair of running shoes. The company sells each pair of shoes for $82.43 in stores. If the company sells 370 pairs of running shoes in the month of March, what is the company's approximate profit from running shoes in March?
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Step-by-step explanation:
Cost for one pair of shoe=$24.60
Selling price of each pair=$82.43
Profit for each pair =selling price-cost of one pair
=82.43-24.60
=$57.83
In march, total production=370 pairs
Profit in march=total production in march×profit for each pair
=370×57.83
=21397.1
Therefore approximate profit from running shoes in march =$21397
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