Suppose Sam's Shoe Co.makes only one kind of shoe,which sells for $50 a pair.If they sold 500,000 pairs of shoes,and had a total cost of $1,000,000,what was the company's profit?
A)$24,000,000
B)$1,500,000
C)$40,000,000
D)Not enough information is given to calculate profit.

Question

Quizplus · Accepted Answer

The company's revenue is 500,000 pairs * $50 = $25,000,000. The profit is revenue minus total cost, so $25,000,000 - $1,000,000 = $24,000,000.