$49E $43 $35 $25 FC 1 2. Reference: Ref 7-1 Given the curves shown in Figure 7-1, the average variable cost of 3 units of output is: O A. $3.00. B. $8.00. C. $16.33. D. $25.00. E. none of the above.
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- $100 9아 8아 7아 6아 50- 40 30 20 10 1 2 3 4 567 89 10 Quantity of Output Refer to Figure 7-3. Which is the average variable cost curve? the curve labelled A the curve labelled B the curve labelled C the curve labelled D Cost per Unit (dollars)Question 12 Table: Variable Costs for Lawns Quantity of lawns Variable costs $0 10 100 20 300 30 500 40 1,100 50 1,800 Reference: Ref 9-3 If the ATC of the 20th unit is $35, then A. the AVC is rising between the 20th and 30th units B. the TC of the 20th unit is $900 C. the TC of the 30th unit is $1,200 D. the MC of the 30th unit is $200Product Costs Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials $120,000 Direct labor 60,000 Variable overhead 25,000 Fixed overhead 220,000 Required: If required, round your answers to the nearest cent. 1. Calculate the prime cost per unit.$ per unit 2. Calculate the conversion cost per unit.$ per unit 3. Calculate the total variable cost per unit.$ per unit 4. Calculate the total product (manufacturing) cost per unit.$ per unit 5. What if the number of units increased to 55,000 and all unit variable costs stayed the same? indicate the impact on the following costs. a. Total direct materials increases by 10% b. Total direct labor increases by 10% c. Total variable overhead increases by 10% d. Total fixed overhead does not change no change e. Unit prime cost does not change no change f. Unit conversion cost decreases by less than 10% What would…
- Units of Output 0 1 2 3 4 5 6 SO $45 $60 Variable Cost (dollars) $75 0 45 75 90 120 158 225 Total Cost (dollars) 60 105 135 150 180 Refer to Table 7-5. How much are total fixed costs? 218 285 Marginal Cost (dollars) 45 30 15 30 38 671. Definition of economic costs Yakov lives in San Diego and operates a small company selling bikes. On average, he receives $694,000 per year from selling bikes. Out of this revenue from sales, he must pay the manufacturer a wholesale cost of $392,000. He also pays several utility companies, as well as his employees wages totaling $289,000. He owns the building that houses his storefront; if he choose to rent it out, he would receive a yearly amount of $2,000 in rent. Assume there is no depreciation in the value of his property over the year. Further, if Yakov does not operate the bike business, he can work as a programmer and earn a yearly salary of $20,000 with no additional monetary costs, and rent out his storefront at the $2,000 per year rate. There are no other costs faced by Yakov in running this bike company. Identify each of Yakov’s costs in the following table as either an implicit cost or an explicit cost of selling bikes. Implicit Cost Explicit Cost…Question 7 Table: Variable Costs for Lawns Quantity of lawns 0 10 20 30 40 50 Reference: Ref 9-3 Variable costs $0 100 300 500 1,100 1,800 If the ATC of 20th unit is $35, then A. the AVC is rising between the 20th and 30th units B. the MC of the 30th unit is $200 OC. the TC of the 30th unit is $1,200 D. the TC of the 20th unit is $900
- 7. Consider the following cost information for a pizzeria: Q (dozens) Variable Cost Total Cost $ 0 $300 350 50 1 2 390 90 420 120 450 150 490 190 540 6 240 What is the pizzeria's fixed cost? а. b. Construct a table in which you calculate the marginal cost per dozen pizzas using the information on total cost. Also calculate the marginal cost per dozen pizzas using the information on variable cost. What is the relationship between these sets of numbers? CommentProblem1: Given the following information, you must complete the table: Total fixed cost is P220 per period. Units of the variable inputs cost P100 per unit per period. Units of Variable input 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Total Product 100 250 410 560 700 830 945 1,050 1,146 1,234 1,314 1,384 1,444 1,494 1,534 1,564 1,584 1,594 Fixed Cost Variable Cost Total Cost Average Fixed Cost Problem 2: Graph the fixed cost, variable cost, and total cost curves on one sheet of paper. Problem 3: Graph the average fixed cost, average variable cost and average total cost and marginal cost curves on another sheet of paper. ( Average Variable Cost Average Total Cost Marginal Cost1 If a firm buys a specialized metal stamping machine that will last 4 years for $125,000 and cannot resell it, the sunk cost is $0 $31,250 $125,000 $93,750 2 Variable costs are a production expense that does not vary with output. a production expense that changes with the quantity of output produced. equal to total cost divided by the units of output produced. the amount by which a firm's cost changes if the firm produces one more unit of output. 3 Suppose the total cost of producing T-shirts can be represented as TC 50 + 2q. The marginal cost of the 5th T-shirt is 10 12 60 4 A firm's cost curve is determined by congressional laws. whether the firm hires engineers or not. natural laws. the firm's production function. 5 Isocost lines represent the combinations of inputs that have the same marginal cost. represent the combinations of inputs that have the same total cost. are the inverse of the isoquant lines. represent supply and demand for inputs at a given cost. 6 A cost function has…
- Problem 11. Calculate AVC and MC at each level of output from the following data: 4 Qutput (Units) 3 1 2 TC (7) 80 180 270 350 4401.Joe quits his computer programming job, where he was earning a salary of $50,000 per year, to start his own computer software business in a building that he owns and was previously renting out for $24,000 per year. In his first year of business he has the following expenses: salary paid to himself, $40,000; rent, $0; other expenses, $25,000. Find the accounting cost and the economic cost associated with Joe’s computer software business.QUESTION 22 Refer to the table below: Quantity of Output 1 Fixed Cost Variable Cost Total Cost $23 $33 S38 3 $60 4 $54 5 $80 $88 $113 $155 Find the missing values in the table and provide an overall reasoning. For example what is fixed cost and it's relation with the variable and total cost. No need to provide details for each cell. T T T T Paragraph Arial 3 (12pt) 只i公 O fx Mashups HTML CSS Path: p Words:0