a. Prepare the scatter diagram and insert the trendline or line of best fit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the y-axis. b. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.) The table below shows monthly data collected on production costs and on the number ofunits produced over a twelve month period.MonthTotal ProductionCostsLevel of Activity(Units Produced)July$230,0003,500August250,0003,750September260,0003,800October220,0003,400November340,0005,800December330,0005,500January200,0002,900February210,0003,300March240,0003,600| April380,0005,900Мay350,0005,600June290,0005,000

Variable cost per unit = higher number of units cost - lower no. of units cost higher no. of units…

a. Prepare the scatter diagram and insert the trendline or line of best fit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the y-axis. b. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.)

a. Prepare the scatter diagram and insert the trendline or line of best fit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the y-axis. b. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

How do I determine variable cost? Only typed solution
Urmilaben
Total cost and output are $3000 and 60 respectively Calculate average cost
calculate and plot the following: No of Units Total Cost 0 5 1 9 2 12 3 15 4 20 5 30 6 42 a) Variable cost b) Fixed Cost c) Average Fixed Cost d) Average Variable Cost e) Maginal Cost
Discuss the difference between accuracy and precision.
The sum of the 2011 revenue and four times the 2008 revenue for a particular company is $3,489 4 million The difference between the 2011 and 2008 revenues is $145 9 million if the company's revenue between 2008 and 2011 is an increasing inear function, find the 2008 and 2011 revenues The 2008 revenue is $ million (Type an integer or a decimal)
In line with the information including the production amount and total cost of the firm and the double (half) average technique, write the total cost function of the firm by making the relevant calculations and calculate the total cost for the production of 1150 units. .
SOLVE STEP BY STEP IN DIGITAL FORMAT The company Cielito S.A. It manufactures clothing for older adults and has a large presence in Mexico, due to the comfort and good taste of its garments. It has 60 seamstresses who work 8 hours a day; Indirect manufacturing expenses are $9,500.00 MXN. Every day Cielito S.A. produces 1,500 garments. The cost per hour of labor is $55.00 MXN. With this data, you must calculate: a. Labor or labor productivity. b. The productivity of manufacturing indirect expenses. c. The total productivity of Cielito S.A.
If r increases, C and w unchanged, the isocost will shift parallely to the right shift parallelly to the left pivot towards point of origin pivot away from the point of origin
If the short run is 18 months does it follow that the long run is longer than 18 months?
Calculate the totat variable cost if it is given that Total cost is $8200 and total fixed cost is $3300