1) What are the fixed costs of this business?
2) What are the variable costs?
3) Develop a monthly total cost function for this business of the form:
C(x) = Vx + F
Where C(x) represents the total cost for the month to produce x tons of feed, V represents the variable costs per ton of feed produced based on monthly averages, and F is the total of all average monthly fixed costs.
4) Use Desmos to graph the monthly total cost function for 0 <= X <= 20,000
5) Develop an average cost function based on the total cost function developed above.
6) Use Desmos to graph the average cost function for 1000 <= X <= 20,000
Homework Answers
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1) What are the fixed costs of this business?
2) What are the variable costs?
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Variable and Fixed Costs, Cost Formula, High-Low Method Li Ming Yuan and Tiffany Shaden are the...
Variable and Fixed Costs, Cost Formula, High-Low Method Li Ming Yuan and Tiffany Shaden are the department heads for the accounting department and human resources department, respectively at a large testle the other United States. They have just returned from an executive meeting at which the necessity of cutting costs and gaining licency has been stressed Ar e ndom of her staff members, as well as his own staff members, U Ming discovered that there were a number of costs...
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Exercise 1-9 Fixed, Variable, and Mixed Costs LO1-4 Refer to the data given in Exercise 1-7....
Exercise 1-9 Fixed, Variable, and Mixed Costs LO1-4
Refer to the data given in Exercise 1-7. Answer all questions
independently (1-8).
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Exercise 1-9 (Algo) Fixed, Variable, and Mixed Costs [LO1-4) Required: 1. If 24.000 units are produced...
Exercise 1-9 (Algo) Fixed, Variable, and Mixed Costs [LO1-4) Required: 1. If 24.000 units are produced and sold, what is the variable cost per unit produced and sold? 2. If 31,000 units are produced and sold, what is the variable cost per unit produced and sold? 3. If 24.000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold? 4. If 31,000 units are produced and sold, what is the...
if Fixed Costs are 46 and Variable costs are 35 at 3 units of output, what...
if Fixed Costs are 46 and Variable costs are 35 at 3 units of output, what are average total costs? i.e., what are total costs per unit at 3 units of output? 5P QUESTION 7 If Fixed Costs are 46 and Variable Costs are 35 at's units of output, what are average variable costs? le, what are variable costs per unit at 3 units of output? 5 p QUESTION 8 If Average Fixed Costs are 9.7 and Average Variable Costs...
1. Watertown Health System, a for-profit provider, has fixed costs of $2 million. Variable patient service...
1. Watertown Health System, a for-profit provider, has fixed costs of $2 million. Variable patient service costs are $10 per visit, and variable administrative costs are $5 per visit. Watertown is planning to contract with a local HMO, which has proposed an annual capitation payment of $150 per member for its population of 20,000 members. Based on an analysis of historical claims data, the HMO estimates that a member utilizes an average of 2 visits per year. The income tax...
need help Exercise 1-9 Fixed, Variable, and Mixed Costs (L01-4) Kubin Company's relevant range of production...
need help
Exercise 1-9 Fixed, Variable, and Mixed Costs (L01-4) Kubin Company's relevant range of production is 22,000 to 27,000 units. When it produces and sells 24,500 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Amount per Unit $ 3.20 $ 5.20 $ 2.70 $ 6.20 $ 4.70 $ 3.79 $ 2.20 $ 1.70 Required: 1. If 22.000...
Variable and Fixed Costs, Cost Formula, High-Low Method Li Ming Yuan and Tiffany Shaden are the department heads for the accounting department and human resources department, respectively at a large testle the other United States. They have just returned from an executive meeting at which the necessity of cutting costs and gaining licency has been stressed Ar e ndom of her staff members, as well as his own staff members, U Ming discovered that there were a number of costs...
2-22 A small company manufactures a certain product. Variable costs are $20 per unit and fixed costs are $10,875. The price-demand relationship for this product is P-0.25D 250, where P is the unit sales price of the product and D is the annual demand. Total cost Fixed cost + Variable cost Revenue Demand x Price e Profit Revenue-Total cost Set up your graph with dollars on the y axis (between 0 and $70,000) and, on the x axis, demand D:...
Exercise 1-9 Fixed, Variable, and Mixed Costs LO1-4
Refer to the data given in Exercise 1-7. Answer all questions
independently (1-8).
Chapter 1 2/04/20 (A EXERCISE 1-6 Traditional and Contribution Format Income Statements LO1-6 Cherokee Inc. is a merchandiser that provided the following information: mount 20,000 $30 $4 $2 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Lav Total fixed administrative expense Beginning merchandise inventory... Ending...
. A company manufacturing snowboards has fixed costs of $200 per day and total costs of $3800 per day at a daily output of 20 snowboards. A) Write an equation for the total cost per day, C(x), assuming it is a linear function. B) Write an equation for the average cost for an output of x snowboards, AC(x)- C(x)/x C) Graph in EXCEL the average cost function for production levels 1 to 40 Describe what you see in 100 words...
Question 2: Your fruit selling business has a fixed cost of 10 AED. The variable costs schedule is as given: (a): Compute the missing costs and complete the table up to quantity =6 (use at least 2 decimal places) (2.5 marks) Quantity of Variable Costs Total Cost (TC) Average Average Fixed Average Total Marginal Cost fruits sold in (VC) Variable Cost Cost (AFC) Cost (ATC) (MC) kgs) (AVC) N/A N/A N/A
QUESTION 3 A pizza shop has fixed costs of S10 per day and variable costs of S1 per slice Its oven can. handle up to 40 slices a day and it is impossible to obtain additional capacity. Sketch the Pizza shop's average cost curve, average variable cost curve, average fixed cost curve and marginal cost curve on the same graph. Please ensure your graph is legible and properlhy labelled
Exercise 1-9 (Algo) Fixed, Variable, and Mixed Costs [LO1-4) Required: 1. If 24.000 units are produced and sold, what is the variable cost per unit produced and sold? 2. If 31,000 units are produced and sold, what is the variable cost per unit produced and sold? 3. If 24.000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold? 4. If 31,000 units are produced and sold, what is the...
if Fixed Costs are 46 and Variable costs are 35 at 3 units of output, what are average total costs? i.e., what are total costs per unit at 3 units of output? 5P QUESTION 7 If Fixed Costs are 46 and Variable Costs are 35 at's units of output, what are average variable costs? le, what are variable costs per unit at 3 units of output? 5 p QUESTION 8 If Average Fixed Costs are 9.7 and Average Variable Costs...
1. Watertown Health System, a for-profit provider, has fixed costs of $2 million. Variable patient service costs are $10 per visit, and variable administrative costs are $5 per visit. Watertown is planning to contract with a local HMO, which has proposed an annual capitation payment of $150 per member for its population of 20,000 members. Based on an analysis of historical claims data, the HMO estimates that a member utilizes an average of 2 visits per year. The income tax...
need help
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