Remember: Profit is sales minus costs. Count every cost, even the ones that never change.
Read and answer
Read the story first, then answer.
Four weeks at the Juice CartFour weeks had passed since the Juice Cart first opened, and Leo wondered whether it was really earning, or only felt busy. He kept track with three words. Sales are the coins that come in. Costs are the coins that go out. Profit is sales minus costs. Mr Oak, the market clerk, charged four coins a week for the cart's spot. That cost stayed the same, whether one cup sold or fifty. Each cup also needed a lemon, sugar and a paper cup, which cost one coin. Leo sold each cup for three coins. In week one he sold four cups: twelve coins in and eight out. Week two was busier, with six cups making eighteen coins in and ten out. In week three rain poured down and only two cups sold. Six coins came in and six went out, so the profit was zero. In week four the sun came back, and seven cups made twenty-one coins in and eleven out. Busy is not the same as profit, and that is why every coin got counted.
1
Which of these is a cost for the Juice Cart?
Three coins from a customerFour coins to Mr Oak for the spotThe profit at the end of the week
2
In week one Leo sells 4 cups at 3 coins each. His sales are coins.
3
Week one costs: 4 coins for lemons and cups and 4 for the spot. The costs are coins.
4
Week one: sales 12, costs 8. The profit is coins.
5
Week three is rainy: 2 cups sell, so 6 coins come in, and 6 go out. What happened?
A profit of 6 coinsA loss of 6 coinsBreaking even: no gain and no loss
6
The spot costs Leo more when more cups sell.
TrueFalse
Look at the weeks
7
Look at the table. Week four's profit is coins.
8
Look at the graph. Which week made the most profit?
Week 1Week 2Week 4
9
Add the four profits: 4 + 8 + 0 + 10 = coins for the month.
10
Put the steps for finding profit in order.
Add up the coins that came in (sales)
Take the costs away from the sales
Add up the coins that went out (costs)
The answer is the profit
11
Join each word to what it means.
1Sales
2Costs
3Profit
4Breaking even
Acoins that come in
Bno gain and no loss
Ccoins that go out
Dsales minus costs
12
Leo's helper writes: profit = 57 + 35 = 92. Fix the mistake. What should the sum be?
57 + 35 = 92 is right57 − 35 = 2257 × 35
13
Stretch: a cup sells for 3 coins and costs 1 to make, and the spot costs 4. Selling cups makes the week break even.
14
Draw the Juice Cart with one arrow for coins coming in and one for coins going out.
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Answer key · Set A
Profit and cost at the Juice Cart
1Four coins to Mr Oak for the spot Coins that go out are costs. Coins from customers are sales.
212 4 cups at 3 coins is 12 coins in.
38 4 + 4 = 8 coins went out.
44 Profit is sales minus costs, and 12 − 8 = 4.
5Breaking even: no gain and no loss Six coins in and six coins out leaves nothing, and that is called breaking even.
6False The spot costs the same 4 coins a week, whether one cup sells or fifty.
710 21 in and 11 out leaves 10 coins of profit.
8Week 4 Week four has the tallest bar, 10 coins. Week three made nothing.
922 4 + 8 + 0 + 10 = 22. It matches the month's sales of 57 take away costs of 35, which is also 22.
101, 3, 2, 4 Count what came in, count what went out, then subtract.
111-A, 2-C, 3-D, 4-B Sales come in, costs go out, profit is sales minus costs, and breaking even is no gain and no loss.
1257 − 35 = 22 Profit is what is left after every cost, so take the costs away from the sales.
132 2 cups bring in 6 coins. The costs are 2 + 4 = 6, so nothing is gained or lost.
Mark each answer, count the right ones and write the score on the sheet.