In a building construction project, 7,500 feet of insulated ductwork is  required. The ductwork is made from 14-gauge steel costing $8.50 per pound. The 24-inch-diameter duct weighs 15 pounds per foot. Insulation for the ductwork costs $10 per foot. Engineering design will cost $16,000, and labor to install the ductwork will amount to $180,000. What is the total cost of the installed ductwork for this project?

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A: there are mainly two type cost , Fixed Cost and Variable cost , Average cost is the per unit cost…

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A: The value of correlation exponent can be calculated as follows:

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A: For department A: Rate direct labor hour(R) can be calculated as follows:

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Q: hy is it important for managers to avoid confusing incremental costs with average costs?

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Q: Q2. A company manufactures and sells wallets. The selling price is 54.90 AED per wallet. The total…

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Q: Compare and contrast economies of scope and economies of scale. Be sure to include outside sources.

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A: Below is the given values: Learning curve = 70% First unit takes time  = 53 hours

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A: The amount of fluid that moves through a system in a given amount of time is known as the flow rate,…

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A: Excavate: It refers to dig a hole in the ground.

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A: Total cost is the sum of fixed and variable costs.

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A: Explicit costs are the costs for a firm which it is paying out of its pocket, for example, payments…

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A: As given marginal cost is C'(X) = 0.02X +100 and Fixed cost = $4000/ month

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A: Given data,

Q: What will be the average fixed cost if TFC Is $350 and the output is 50 units

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.