Lego
– Pricing Your Product/Service
Directions: Lego has hired
your product development team to create a new toy using Lego pieces you
select. You only have 30
minutes. In groups you must
do the following:
1.
Decide as a group what toy you want to make.
2.
Choose one person to collect the 20 Lego pieces from the table.
3.
Build the toy as a team.
4.
Using the cost sheet, determine the cost of materials using the unit
cost listed below.
5.
Calculate how much time it took to build the toy to determine labor
costs to product the toy.
6.
Identify a target customer.
7.
Give the toy a name.
8.
Calculate the selling price so that you make a profit.
Part A:
Record how many Legos of each color are needed to assemble your
toy. Then, calculate the
total cost per color by multiplying the cost of the color by the number
of units used.
J
Part B and Part C
are on page 2
Toy Idea (What is it?):
_________________________________________________________
Toy Name: _____________________________________
Target Customer:
______________________________________________________________________
______________________________________________________________________
Part B & C (Cost of Labor and other costs):
Next, gather your materials needed to build your toy.
Put together your toy using people in your group.
Record how long it takes to build the toy.
Time (in hours) needed to build the Toy:
______________ Hours
(This will be a percentage of an hour)
Determine how much you are going to pay per hour to build the
toy: $ _____________ / Hour
NOTE: Minimum wage is $7.25
Multiply the time (in hours) and the hourly pay rate for your labor cost
per toy. _________ / Toy
[B]
One more cost associated with this toy is deliver and handling.
What do you think the cost for deliver and storage or
packaging might be? _________ [C]
What do you think the selling price should be for this toy?
Fill in the box below and see if you have made a profit.
Calculate PROFIT of one unit
Be prepared to share your toy and your calculations with the class!
Use the space below for any calculations:
This site was created by Roderick Hames for the primary purpose of teaching and demonstrating computer & business skills.. Any distribution or copying without the express or written consent of Alton C. Crews Middle School or its creator is strictly prohibited. *** Any questions, comments or suggestions concerning this simulation or this handbook should be forwarded to Roderick Hames, Computer Science / Business Education Teacher copyright ©1997-2015, last updated November 05, 2016 Alton C. Crews Middle School: CS Dept |
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