Preparing a Profit Equation to Predict Future Profits

Picnic Time produces a picnic basket that is sold for $$136$ 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. Variable Cost per Unit  

Manufacturing: Direct materials $$34$

Direct labor $24$

Manufacturing overhead $14$

Selling and administrative $4$

Total $$76$

Fixed Costs per Month

Manufacturing overhead $$36,000$

Selling and administrative $86,000$

Total $$122,000$ a$)$Prepare a monthly profit equation.

Profits $=$ $Answer X $-($ $Answer$+$ $Answer X $)$

where X $=$ number of picnic baskets.

b$)$Determine profit for the month of July using the equation from

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?