Preparing a Profit Equation to Predict Future Profits

Picnic Time produces a picnic basket that is sold for $\backslash (\backslash$$ $100\backslash )$ per unit. Assume the company produced and sold $4,000$ baskets during July. There were no beginning or ending inventories. Variable and fixed costs follow.

REQUIRED

a$.$ Prepare a monthly profit equation.

Profits $\backslash (=\backslash$$ $\backslash )\backslash ($ X$-(\backslash$$ $\backslash )+\backslash$$ X$)$

where $\backslash ($ X$=\backslash )$ number of picnic baskets

b$.$ Determine profit for the month of July using the equation from part a$.$

Profits $\backslash (=\backslash )\backslash$$

c$.$ For August, the company estimates that sales will range between $4,100$ on the low$-$end and $4,400$ on the high$-$end. What is the range of predicted profits?

Profit range between $\backslash$$ on the low end and $\backslash$$ on the high end.