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Tom wants to open a store that sells hats. He thinks that he can sell them for $20 each. He estimates his monthly expenses to be $3,000, and it will cost him 8$ per hat. Tom wants to analyze his estimated revenues and expenses to see how many hats he would need to sell each month in order to break even. He uses x to represent the number of hats and y to represent an amount of money. Make an equation to find out how many hats need to be sold to break even.

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The equation 8x+3000=20x determines that Tom needs to sale 250 hats in order to break even.

Step-by-step explanation:

Given,

Selling cost of each hat = $20

Monthly expenses = $3000

Cost per hat = $8

Let,

x be the number of hats

y be the total amount.

Monthly costs;

y = 8x+3000

Revenue generated

y = 20x

For breaking even;

Monthly costs = Revenue generated

[tex]8x+3000=20x\\3000=20x-8x\\3000=12x\\12x=3000[/tex]

Dividing both sides by 12

[tex]\frac{12x}{12}=\frac{3000}{12}\\x=250 \\[/tex]

The equation 8x+3000=20x determines that Tom needs to sale 250 hats in order to break even.

Keywords: revenue, costs

Learn more about costs at:

  • brainly.com/question/13062539
  • brainly.com/question/13076219

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The equation that represents the breakeven sales is 20x =  $3000 + $8x.

A seller breaks even when profit is zero. This means that total cost is equal to total revenue.

Total cost = fixed cost + variable cost

Fixed cost = $3000

Variable cost = variable cost per hat x number of hats sold

= $8x

Total cost = $3000 + $8x

Total revenue = revenue per hat x number of hats sold

$20x

Breakeven point:  20x =  $3000 + $8x

A similar question was answered here: https://brainly.com/question/20965508

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