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 ($/lb)
How to Calculate Meat Goat Profit?
The following example problems outline how to calculate Meat Goat Profit.
Example Problem #1
- First, determine the total pounds of goat meat sold (lbs). In this example, the total pounds of goat meat sold (lbs) is given as 100 .
- Next, determine the total price per pound ($/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 ($)
