Question

The stadium has fixed expenses of $10,000 per event. Last month it put on three major events and spent $72,000, $47,500, and $65,000 in advertising for them respectively. According to the accountant, these events earned a total of $482,000 in revenue. What was the stadium's profit margin last month?

Answer 1

72,000 + 47,500 + 65,000 +(3 X 10,000)=214,500 Total costs and expenses of the stadium

482,000 - 214,500=$267,500. Hope I helped :)

Answer 2

Answer:

The stadium's profit margin last month was $267500

Step-by-step explanation:

Amount of money spent on first event = $72000

Amount of money spent second event = $47500

Amount of money spent on third event = $65000

Total money spent on three events = 72000 + 47500 + 65000

                                                           = $184500

Fixed expense of stadium on one event = $10000

So, Expense for the three events = 3 × 10000

                                                       = $30000

Total money spent on all the events by the stadium = 184500 + 30000

                                                                                       = $214500

Amount earned by the stadium through these three events = $482000

Profit earned = Amount earned - Amount spent

                      = 482000 - 214500

                      = $267500

Hence, The stadium's profit margin last month was $267500