Most manufacturing companies divide manufacturing costs into which three broad categories?

Q: What is economies of scope?

A: When the language of economics is considered, “economies” is stated as “cost saving” & ‘scope’…

Q: Distinguish between implicit and explicit costs. How is it possible to have positive accounting…

A: Any cost that has already occurred but is not shown or reported as a distinct item is referred to as…

Q: After one month of operation, UCC Cafe decided to shorten its business hours and close on weekends.…

A: When UCC cafe reduced business hours and weekends holiday. It considered variable cost.

Q: Explain what responsibilities of "cost control" are in a project associated with the making of a…

A: Step 1: Cost control: Cost control is the act of recognising and lessening operational expenses to…

Q: Lake Charles Seafood makes 500 wooden pack-ing boxes for fresh seafood per day, working in two…

A: Productivity is represented as the ratio between the amount of output and the number of inputs. In…

Q: What are the variable costs?

A: Variable cost refers to those costs that are changed along with the changes in the production. In…

Q: customers there while you golf. Why do you think a miniature golf course would stay open during the…

A: *answer:

Q: Explain Homogeneous products and give more examples

A: Homogenous product: Homogenous products or homogenous goods are those goods that are similar in…

Q: IIT Ball Bearings Inc. faces costs of production as follows: Quantity Total Fixed Cost Total…

A: (A) Total Cost = Total Fixed Cost + Total Variable Cost  Marginal Cost = Change in Total Cost /…

Q: Draw the cost-volume-profit diagram?

A: The cost-volume-profit analysis implies the relationship between costs and volume, selling price,…

Q: Some producers do not stop their production when they face loss in their production. Why?

A: Shut-down decision signifies a short-run decision taken where a firm decides whether to operate or…

Q: xport-oriented industry, ta

A: : Export- oriented industry: It refers to that industry which is more into the exporting the goods…

Q: The most efficient scale of production is where at which point?

A: According to the given question In simple words we can say that scale of production basically or…

Q: Example of law if Diminishing Returns

A: The quantitative change in production of a firm or industry as a result of a proportionate increase…

Q: For each term, explain the definition or calculation, and explain this concept to someone who is…

A: Cost of production is the total cost that a firm or a business incurs for the production of goods…

Q: How should we develop the firm’s capabilities and focus its efforts

A: In order to develop the abilities of the firm, more and more should be spend on the upgradation of…

Q: On which factors does total cost for heating or air conditioning a building depends?

A: The sum of all the costs of producing a certain level of output incurred by a company is known as…

Q: Does additive manufacturing rely on economies of scale to deliver low costs? What are two ways in…

A: Economies of scale refer to the situation of reducing the total cost during the process of…

Q: What is another term for marginal costs

A: Marginal cost refers to the additional cost incurred by firm or a producer when one additional unit…

Q: A small farmer produces two types of crops, A and B. A and B generate $30 and $25 per bushel…

A: You have asked multiple questions. We will answer the first question for you. If u want any specific…

Q: What are their implications for cost and return?

A: The method of directing capital among savers to organizations that require it is known as finance.

Q: A firm produces one good and has average cost equal to 115, average variable cost equal to 75, and…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Give some examples of the term Mixed Costs?

A: Costs can be classified into fixed and variable costs. The variable cost is the type of cost that…

Q: What is the difference between DIVERSIFICATION and INDUSTRY SPECIFIC?

A: Diversification means a firm is doing their business in different industry or sector, like Tata…

Q: Compare and contrast: a) Average fixed cost vs. Total fixed cost b) Total variable cost vs. Average…

A: Differentiate between Average fixed cost and Total fixed cost:- Average fixed cost Total fixed…

Q: Define the term Unit-Profit?

A: The profit that is earned per unit of the output is known as Unit-Profit. Clearly, the profit that a…

Q: Explain how a company could choose to get bigger, yet lower their average costs?

A: Average cost: It is average cost incurred for producing a good.

Q: How does a successful engineering project affect a firm's market value?

A: A successful engineering project result in an increase in the revenue and profit of the firm. Rise…

Q: What are the factors that influence a company’s cost ofcapital?

A: Cost of capital- It is the cost of the funds of a company or, from the point of view of an investor,…

Q: Which cost inc with the increase in production? (a) Average cost. (b) Marginal cost. (c) Fixed cost.…

A: According to the given question The cost in economics are usually defined as the amount of the…

Q: (d) Find the minimum average production cost per unit and the level of production that minimizes…

A: Average cost(AC) is defined as total cost(TC) divided by the total units produced. Here, units are…

Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500,…

A: In economics, an isoquant curve illustrates the combination of two inputs that will give the same…

Q: An assembly line can produce 60 units per hour. The line's hourly cost is $3600 on straight time…

A: a For 300 units, unit cost For 300 units, unit cost = (6 hours)($3600) / 300. Marginal cost is 0 for…

Q: Define economies of scale and explain why they mightarise

A: Economics of scale are the result of production efficiency. It can be a reason for a larges firms to…

Q: How profit is different from the incorporating normal profit and when the normal profit is into…

A:

Q: 1. A factory produces 1,500 electric machines per annum. The variable cost per machine is Rs. 100.…

A: Marginal cost is the change in total cost or total variable cost per unit change in output.

Q: A firm is deciding between two different sewing machines. Technology A has fixed costs of $500 and…

A: In this case, the firm has two different technological options where technological option A is the…

Q: nanufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It…

A: Supply and demand represent the working of a market and the cooperation among providers and…

Q: What are the advantages and disadvantages of Cost benefits?

A: Cost-benefit analysis refers to the system under which the business can try to estimate the profits…

Q: State the law if Diminishing Returns

A: A consumer's increased enjoyment from having one more unit of an item or service is referred to as…

Q: To compute economic profits, which costs are used?

A: The economic profits of a firm could be estimated by the difference between total revenue and total…