Enter the total pounds of goat meat sold (lbs), the total price per pound ($/lb), and the total cost per pound ($/lb) into the calculator to determine the Meat Goat Profit.
Meat Goat Profit Formula
The following formula is used to calculate the Meat Goat Profit.
Pmg = W * (PP-CP)
- Where Pmg is the Meat Goat Profit ($)
- W is the total pounds of goat meat sold (lbs)
- PP is the total price per pound ($/lb)
- CP is the total cost per pound ($/lb)
To calculate the meat goat profit, multiply the total weight of mean by the difference in price and cost per pound of meat.
How to Calculate Meat Goat Profit?
The following example problems outline how to calculate Meat Goat Profit.
Example Problem #1
- First, determine the total pounds of goat meat sold (lbs). In this example, the total pounds of goat meat sold (lbs) is given as 100 .
- Next, determine the total price per pound ($/lb). For this problem, the total price per pound ($/lb) is given as 3 .
- Next, determine the total cost per pound ($/lb). In this case, the total cost per pound ($/lb) is found to be 2.
- Finally, calculate the Meat Goat Profit using the formula above:
Pmg = W * (PP-CP)
Inserting the values from above yields:
Pmg = 100 * (3-2) = 100 ($)
Example Problem #2
The variables needed for this problem are provided below:
total pounds of goat meat sold (lbs) = 150
total price per pound ($/lb) = 5.5
total cost per pound ($/lb) = 3
Entering these values and solving gives:
Pmg = 150 * (5.5-3) = 375 ($)
