Answer :
Final answer:
You should charge $2.50 per 6 oz package to make a 40% profit on each package.
To make a total profit of $1280 when selling 114 lbs of Macadamia nuts, you should charge $2.50 per 6 oz package.
Explanation:
In the first scenario, to make a 40% profit on each 6 oz package, you need to calculate the cost of the Macadamia nuts and the cost of packaging. The cost of the Macadamia nuts from the 114 lb sack is $608, and the cost of 6 oz packaging is $50 for 500 packages, which is $0.10 per package. So, the total cost is $608 for nuts + $0.10 for packaging, which is $608.10. To achieve a 40% profit, you need to add 40% of this cost, which is $243.24. Therefore, you should charge $608.10 + $243.24 = $851.34 for 500 packages, and when divided by 500, it equals $2.50 per 6 oz package.
In the second scenario, to make a total profit of $1280 when selling 114 lbs of Macadamia nuts, you can use the same unit cost calculated in the first step, which is $2.50 per 6 oz package.
To calculate the number of packages in 114 lbs, you convert the pounds to ounces (1 lb = 16 oz), so you have 114 lbs * 16 oz/lb = 1824 oz. Divide this by 6 oz per package to get 304 packages. To make a total profit of $1280, you need to charge $1280 divided by 304 packages, which is approximately $4.21 per package.
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