Sure, let's complete the given income and expense statement for the sale of 240 tortillas and determine the profit.
Income:
1. Sale of 240 tortillas: Total income generated from selling 240 tortillas.
Expense:
1. Fixed cost: This includes the cost of renting the stall.
2. Cost of each tortilla: This is the total cost incurred to make the 240 tortillas.
Total Income Calculation:
- Chloe sells each tortilla for R15.
- If she sells 240 tortillas, the total income will be: [tex]\(240 \text{ tortillas} \times R15 \text{/tortilla} = R3600\)[/tex].
Total Expense Calculation:
1. Fixed cost (stall rent): R500.
2. Cost of tortillas: The cost to make one tortilla is R5.
- For 240 tortillas, the total cost is: [tex]\(240 \text{ tortillas} \times R5 \text{/tortilla} = R1200\)[/tex].
3. Total cost = Fixed cost + Total cost of tortillas = R500 + R1200 = R1700.
Profit Calculation:
- Profit is calculated by subtracting the total expense from the total income.
- Profit = Total Income - Total Expense = R3600 - R1700 = R1900.
Now we can complete the income and expense statement:
Income and Expense Statement for 240 Tortillas:
\begin{tabular}{|l|l|l|}
\hline \multicolumn{1}{|c|}{Income} & \multicolumn{2}{c|}{Expense} \\
\hline \begin{tabular}{l}
Sale of \\
240 tortillas (R3600)
\end{tabular} & Fixed cost (R500) & \\
\hline & \begin{tabular}{l}
Cost of each \\
tortilla \\
(R1200)
\end{tabular} & \\
\hline Total Income (R3600) & & Total Cost of 240 tortillas (R1700) \\
\hline & Profit (R1900) \\
\hline
\end{tabular}
So, Chloe made a profit of R1900 from selling 240 tortillas.
