# Lesson Description. Texas Essential Knowledge and Skills (Target standards) Texas Essential Knowledge and Skills (Prerequisite standards)

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1 Lesson Description This lesson continues with characters from Mr. Cash s fourth grade class. The students want to raise money for the playground fund at Capital Elementary School. Students are to determine the supplies needed for each fundraising project, decide which of the supplies can be donated and which supplies must be purchased, and find the cost of the purchased supplies given necessary information. For each fundraising project, additional information is provided so students can compute the amount of money collected for each project. Students will calculate the profit for each project and determine the total profit earned by Mr. Cash s class. Texas Essential Knowledge and Skills (Target standards) Texas Essential Knowledge and Skills (Prerequisite standards) National Standards (Supporting standards) CEE - Council for Economic Education CCSS - Common Core State Standards PFL Math 4.10B: calculate profit in a given situation Math 4.1: Mathematical process standards Math 4.2E: represent decimals, including tenths and hundredths, using concrete and visual models and money Math 4.4A: add and subtract whole numbers and decimals to the hundredths place using the standard algorithm CEE Earned Income 4.6: People who own a business can earn profits, which is a source of income. CCSS Math 4.OA: Use the four operations with whole numbers to solve problems. CCSS Math 4.NBT: Use place value understanding and properties of operations to perform multi-digit arithmetic. Time Required One 45-minute period class PFL Terms Profit Revenue Materials Required Chart paper and markers or interactive white board Paper and pencil for students A copy of Activity for each student A copy of Activity for each student P a g e 1

4 Activity Name Class Period Directions: Your teacher will assign the roles of Penny, Buck, Richey, Bill, and Mr. Cash for the Readers' Theater below. Those students will practice their parts first and then read their parts. Listen to directions from your teacher. PENNY: Mr. Cash, we have been thinking that it would only be fair for our class to help with the fundraising for the new playground equipment project. MR. CASH: Penny, that would be wonderful! What are some of your ideas for raising money? PENNY: I like to bake cookies, so we could make cookies and sell them here at school, at the carnival, or at the next PTA meeting. BUCK: Kids always need pencils. My uncle can get us a great deal on big boxes of pencils. We could sell them in the cafeteria before school. MR. CASH: Great ideas! Who else has an idea? RICHEY: My aunt has a dog grooming shop. She said we could use her dog bathtub one Saturday. We can keep whatever we make and donate it to the school project. Aunt Sally said it might even be good for her business. BILL: My sister makes bracelets with beads. Her friends like to wear the ones she makes for them. I ve got a great idea! We can make some for girls, but we can make them in team colors and guys would wear them. They re fun and easy to make. MR. CASH: OK, let s get started. Let me remind you that it is important that our fund raising projects make a profit. That means that we need to make more in sales than we spend on supplies. Will each one of you head up a team? ALL FOUR STUDENTS: YES, SIR!!! P a g e 4

6 Pencil Sales Large box of pencils (1 gross) (Recall that 1 gross = 144) Total : Sell 144 pencils for 50 per pencil 144 x 50 = Bracelet Sales \$31.99 Pony beads 1 package of each color: red, white, blue, pink, purple, yellow, green, black, orange, and gold \$2.99 per package x packages = Elastic stretch cord \$8.99 Total : Sell 97 ten-inch bracelets for \$1 each 97 x \$1 = (Be sure to change the cents to dollars. Use a calculator if needed.) Total Revenue: Revenue from pencil sales Total Revenue: Revenue from bracelet sales Profit: Profit: 1. Order the amounts of profit from each team project from least to greatest. 2. The fundraiser was a success! All four groups sold out. What is the total amount of money Mr. Cash s class will donate to the playground equipment fundraiser for Capital Elementary School? Show your work in the space below. P a g e 6

8 Pencil Sales Bracelet Sales Large box of pencils (1 gross) \$31.99 Pony beads 1 package of each color: red, white, blue, pink, purple, yellow, green, black, orange, and gold \$2.99 per package x 10 packages = \$29.90 Elastic stretch cord \$ 8.99 Total : \$31.99 Total : \$38.89 Sell 144 pencils for 50 per pencil 144 x 50 = 7200 Sell 97 ten-inch bracelets for \$1 each 97 x \$1 = \$97 (Be sure to change the cents to dollars. Use a calculator if needed.) Total Revenue: \$72.00 Total Revenue: \$97.00 Revenue from pencil sale \$72.00 Revenue from bracelet sales \$97.00 \$31.99 \$38.89 Profit: \$40.01 Profit: \$ Order the amounts of profit from each team project from least to greatest. \$27.16,_\$40.01,_\$58.11,_\$ (Cookie Sales,_Pencil Sales,_Bracelet Sales,_Dog Shampooing) 2. The fundraiser was a success! All four groups sold out. What is the total amount of money Mr. Cash s class will donate to the playground equipment fundraiser for Capital Elementary School? Show your work in the space below. \$ \$ \$ \$ = \$ P a g e 8

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