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Ryan
Ryan, Engineer
Category: Math
Satisfied Customers: 9218
Experience:  B.S. in Civil Engineering
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Please show me how to work out the cheapest way to buy the

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Please show me how to work out the cheapest way to buy the wax for 200 candles and show working out.

Hi,

Thank you for using the site. Please see the file at the following link for the solution.

Candles

Please feel free to ask if you have any questions about this solution.

Thanks,

Ryan

Customer: replied 4 years ago.
Ive clicked on link candles. Don't know want to do to get answer when I get to file

Hi,

When you clicked on the link, you should have been taken to a page where you could download a Word document that contains the solution. Were you able to download that file?

Ryan

Customer: replied 4 years ago.
Please work out cheapest way to buy the tins and wicks for 200 candles. then fill in order form and work out the total cost.

Were you able to access the first part about the wax, or should I send that part again along with the new parts?

Here is the computation work for the second part, and the completed order form:

CandlesPart2

Please let me know if you have any trouble accessing the file at that link, or if you have any questions about the solutions.

Thanks,

Ryan

Customer: replied 4 years ago.
work out the pay for making 200 candles you make 30 candles in one hour paid a 12 a hour .

Labor cost for making 200 candles:

(200 candles)(1 hour / 30 candles)(£12 per hour) = £80

Cost per candle:

(£143.15 + £80) / 200 = £1.12 per candle (rounded to the nearest p)

Customer: replied 4 years ago.
Answer another question please.

Selling price:

I would initially set the profit percentage at the maximum 100%, or £1.12 per candle. This would make the selling price of each candle equal to £2.24. At this profit percentage, the labor rate per hour would come out to £33.60, which appears to be about twice the median income for full-time workers in the UK. This may mean that the profit percentage is too generous. In real life though, a comparison would need to be made with the selling prices of other similar candles. If other similar candles are being sold for £1.75, then the selling price of £2.24 might be unreasonable.

Another reason for selecting the maximum profit percentage is that the seller can always lower the price if sales are lagging, which would effectively lower the profit.

Selling price:

(Materials cost per candle) * (1 + profit percentage) = (£1.12)(1 + 100%) = (£1.12)(2) = £2.24

Check of profit percentage calculation:

Profit margin = Selling cost - Material cost = £2.24 - £1.12 = £1.12

Profit percentage = (Profit margin)/(Material cost) * 100% = (£1.12)/(£1.12) * 100% = (1)&100% = 100%

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