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marysya [2.9K]
3 years ago
7

An artist buys scrap metal from a local steel mill as a raw material for her sculptures. Last​ year, she purchased $7,000 worth

of scrap metal. With the steel she produced 10 authentic sculptures that she sold for $1,000 each to a local art dealer. The art dealer then sold all of the sculptures to art collectors for an average of​$1,200 each.
The total value added of the art dealerart dealer is $__. ​(Enter your response as an​ integer.)
Business
1 answer:
Lyrx [107]3 years ago
8 0

Answer:

$2000

Explanation:

The total value added by the art dealer would equal the amount of profit that the art dealer made off of the sale of all the sculptures created by the artist. Therefore to calculate this we must subtract the amount that the artist sold each sculpture for ($1000) from the amount that the art dealer sold each sculpture for ($1200) and then multiply the remainder by the amount of sculptures (10) like so:

$1200 - $1000 = $200

$200 * 10 = $2000

Therefore the total added value of the art was $2000.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Answer:

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Explanation:

As the units will not inccur in any additional fixed cost we should check for the contribution margin this units will provide:

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3 0
3 years ago
_____ media are specifically designed to help bring customers eyeball to eyeball with the product--often at the point of sale or
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Answer:

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Explanation:

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3 years ago
Rachel entered into a contract to purchase a 2004 Dodge from Hanna, who lived in the neighboring apartment. When a dispute arose
Genrish500 [490]

Answer:

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3 years ago
The standard rate of pay is $20 per direct labor hour. If the actual direct labor payroll was $117,600 for 6,000 direct labor ho
White raven [17]

Answer:

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