Total costs = 500 + 8 * 8x =
Fixed cost + (hrs per day)( hourly wage rate) (x) =
500 + 64x where x is the number of workers we need
Total Revenue =
(hrs per day) (number of widgets/hour)(sales price/widget) (x) =
8 * 5 * 3.10 * x = 124x
And we want to solve this
124x > 500 + 64x subtract 64x from both sides
60x > 500
x > 500/60
x > 8.33 workers
So...we need 9 workers (at a minimum )