FNSACC601 Quiz 5 - review

Break Even Analysis -Exercise FINC15 Exercise : Figurine Maker Data for the break-even analysis (per month) Selling rice per unit PhP 1,000 Variable cost per unit PhP 600 Fixed costs PhP 16,000 Instruction: Kindly fill out the required data. Units Variable Cost Fixed Cost Total Cost Total Sales (VC) (FC) (Т) Revenue 10 20 30 40 50 60 70 80 90 100 B. Based on the above data, kindly prepare a Cost, Volume, and Profit (CVP) graph. C. Calculate the following: Show your SOLUTIONS/COMPUTATION. BEP in Units BEP in Sales

Output quantity Total variable cost Total cost 0 $0 $250 25   450 50 300 X 75 375   100 600 850 125 X 1125 150 1200 X 175   1875 200 2000 2250

Firm Measures: Productivity, Costs, Revenues, and Profits Labor Total Product (TP) Fixed Cost (TFC) Variable Cost (TVC) $800,000 $ 0 $800,000 $ 800,000 $800,000 $800,000 d. e. f. g. 0 1 2 4 5 6 1. 0 8000 30000 45000 56000 60000 63000 $800,000 $800,000 $800,000 $1,500,000 $2,250,000 $3,130,000 $4,200,000 $5,040,000 a. Solve for marginal product (MP) in each row, except for where labor = 0. b. After which worker does the region of diminishing marginal returns begin? c. Specialization and division of labor are observed in which one of the three Price $80 $80 $80 $80 $80 $80 $80 regions? Solve for total cost (TC) in each row. Solve for average variable cost (AVC) in each row, except for where labor = 0. Solve for marginal cost (MC) in each row, except for where labor = 0. Why are the MC and MP inversely related to one another? While it is because as one increases, the other decreases, please explain the meaning behind the inverse relationship that exists between worker productivity and…

5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Number of Factories 1 2 3 Q = 100 Q 200 440 280 380 480 620 800 Average Total Cost (Dollars per bike) Q = 300 Q = 400 240 320 240 240 320 240 Q = 500 480 380 280 Q = 600 800 620 440 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is $ per bike. Suppose Ike's Bikes is expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using On the following graph, plot the three SRATC curves for…

Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the firm produces 265 units of output and sells it at $1 per unit, is it making profits or losses? How much are they making?

Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the price of the output is $1, how many units of output should the firm produce to maximize profit? What is the firm’s profit level?

Just answered a and b

please discuss this statement “Thw technical pattern that statistically significant could be economically insignificant.”

PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data Average Average Average I Fixed Variable Total Cost TC Marginal Quantity Fixed Variable Total Change in I Cost of Output (FC) (VC) Cost ATC Cost Cost Total Cost (TC) (ATC) Plot MC at Output Cost Cost IFC VC $600 $ 0 $ 600 I XX XX XX XX $3.00 $300 50 100 600 300 900 I $6.00 $3.00 $9.00 100 1.00 150 200 600 400 | 3.00 2.00 5.00 50 .50 - 250 300 1050 I 2.00 1.50 1.00 350 400 1150 I 1.50 1.38 2.88 200 2.00 - 450 500 600 750 1350 I 1.20 1.50 550 600 600 1200 1800 3.00 10.00 - 650 700 2200 2800 I.85 3.15 PLOT THE APPROPRIATE DATA FROM THE PRECEDING TABLE ON THE GRAPHS ON P. 134 AND 135 BEFORE ANSWERING THE EIGHT QUESTIONS BELOW. QUESTIONS 5-8 ARE ON PAGE 136. 1. How is marginal cost (ATC/AQ) represented in your graph on page 134? 2. On your graph on page 135 Variable Cost per unit (VC/Q or average variable cost) is at a minimum at an output level of, units. 3. On your graph on page 135 Total Cost per unit (TC/Q or average…

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The Pery Corporation ecorded the following budgeted and actual information lating to fixed overtead costs for its Z-Line of products Standwd fixed overhead per direct labor hour Standard direct labor hours per unit Budgeted production Budgeted foxed overhead costs $3.00 05 2,860 $4,275.00 Actual production in units Actual fixed overhead costs incumred 4.400 $1,500 00 What is Perry's fxed manufacturing overhead volume vanance? OA S2,325.00 unfavorable OR $2.325 00 tavorable OC S2,775 00 unfavorable OD. $2.775.00 favorable

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H.W 7/ For the following data: Fixed cost = 100,000 ID Variable cost per unit = 300 ID Selling price per unit=500 ID n = 500 Calculate BEP by using chart method

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(11) When the total product curve is falling, the: (a) marginal product of labor is zero.          (b) marginal product of labor is negative. (c) average product of labor is increasing.  (d) average product of labor must be negative.

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Output (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost (RM) Average variable cost (RM) Average total cost (RM) Marginal cost (RM) 0 600 600 - - - - - 10 1050 600 450 60 45 105 45 20 1450 600 850 30 42.5 72.5 40 30 1800 600 1200 20 40 60 35 40 2100 600 1500 15 37.5 52.5 30 50 2450 600 1850 12 37 49 350 60 2850 600 2250 10 37.5 47.5 40 70 3300 600 2700 8.57 38.57 47.14 45 80 3850 600 3250 7.5 40.625 48.125 55 90 4500 600 3900 6.67 43.34 50 65 100 5250 600 4650 6 46.5 52.5 75 Which time period is the firm operating? Why?

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Cost (thousands of $) The graph shown on the right represents the cost C (in thousands of dollars) of refining x gallons of gasoline per hour (in thousands). The vertical axis represents the cost, and the horizontal axis represents the number of gallons of gasoline refined. Cost of refining gasoline per hour 1000- 800- 600- 400- Answer the following questions below in parts (a) through (d). 200 O 100 200 300 400 500 600 700 800 Number of Gallorns (thousands) (a) What is the cost of refining 200 thousand gallons of gasoline per hour? thousand

Total Costs (000s of dollars) 20 000 18 000 16 000 14 000 12 000- 10 000- 8 000 6 000 4 000 2000 0 4000 0 2000 5 1000 10 15 20 Output (golf carts per month) TC TVC Refer to the figure. How much is the total cost (TC) when the total output is zero? TFC T 25 30