8.1 The fixed costs at Harley Motors are $1M annually. The m revenue of $9.90 per unit and $4.50 variable cost. This questi parts. Part 2: What is the annual profit (or loss) if 150,000 units are s use a positive number and if a loss, use a negative number; do or $ signs in your answer)

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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.