TVC ATC/AC 0 65 105 135 167 a. 203 244 7 293 d. 8 55 355 9 432 10 527 5. Explain why the short-run AVC and AC curves are U-shaped. q 0 1 2 23 3 4 5 19 6 TFC TC b. AVC MC
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- Product Costs Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials $120,000 Direct labor 60,000 Variable overhead 25,000 Fixed overhead 220,000 Required: If required, round your answers to the nearest cent. 1. Calculate the prime cost per unit.$ per unit 2. Calculate the conversion cost per unit.$ per unit 3. Calculate the total variable cost per unit.$ per unit 4. Calculate the total product (manufacturing) cost per unit.$ per unit 5. What if the number of units increased to 55,000 and all unit variable costs stayed the same? indicate the impact on the following costs. a. Total direct materials increases by 10% b. Total direct labor increases by 10% c. Total variable overhead increases by 10% d. Total fixed overhead does not change no change e. Unit prime cost does not change no change f. Unit conversion cost decreases by less than 10% What would…Inventory Costing Methods—Periodic MethodThe Luann Company uses the periodic inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ $9 per unit 10 Purchased 50 units @ $11 per unit 15 Sold 60 units 26 Purchased 25 units @ $13 per unit Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Note: Round your cost per unit to three decimal places, if needed. Then round your final answers to the nearest dollar. A. First-in, First-out: Ending Inventory Answer Cost of Goods Sold: Answer B. Last-in, first-out: Ending Inventory Answer Cost of Goods Sold: Answer C. Weighted-average cost: Ending Inventory Answer Cost of Goods Sold AnswerThe total cost (CT) of Holdins-up is CT = 4q2 + 4q + 16CT = 4q2 + 4q + 16. Get the fixed cost (CF) and the variable cost (CV) of the company. CF=4q^2+4; CV=16 CF=16;CV=4q^2+4q CF=0;CV=4q^2+4q+16 CF=4q^2+4q; CV=0
- A company produces two products. FC = Total Fixed costs = $580VC1= variable costs from product 1 = $920VC2= variable costs from product 2 = $805TR1= revenue from product 1 = $900TR2= revenues from product 2 = $900In the short run, what should the firm do? a.Produce product 1 but not 2 b.Produce neither c.Produce both d.Produce product 2 but not 1The Jones Company has the following cost schedule: Output Total Cost (Units) (OMR) 0 3000 50 3750 100 4275 150 4675 200 5000 250 5300 300 5700 350 6250 400 7050 450 8225 What is the Fixed Cost (FC) and Variable Cost (VC). What is the average fixed cost (AFC), average variable cost (AVC) and average total cost (ATC) for each level of output What is the marginal cost (MC) for each level of outputGive the formulas for cost and plot AFC, MC, AVC, and AC if the cost function isa C = 10+10q (MC = 10)b C = 10 + q2 (MC=2q).c C = 10 + 10q - 4q2 + q3 (MC = 10 - 8q + 3q2).
- upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of RM60,000 annually. Last year you earned a total revenue of RM100,000. Rent and supplies last year were RM50,000. 2.1) Your annual economic costs areFind the level of the accounting profit Explicit cost is given as = $ 130 Total revenue = $ 190Suppose a firm decided to leave a high-cost/ high-tax state like California to reloacte to a low-cost / low-tox state like Nevada. They are doing this because they will be able to save 30 percent on the cost of their labor (employees) and becouse the Nevada state government is giving them generous state tax incentives for new machinery and free land. This decision would be a good example of economies of scale. (Telsa car battery factocy story) True or False
- Q25 Which one of the following types of short-run costs declines over the whole range of output? a. Total fixed cost. b. Total cost. c. Marginal cost. d. Total variable cost. e. Average fixed cost.Graphically Represent and analyze the interrelationship between the short run costs Units TFC TVC TC AFC AVC AC MC 0 24 0 1 24 28 2 24 54 3 24 75 4 24 96 5 24 126 6 24 168 7 24 214 8 24 264.Total costs increase from $1,500 to $1,800when a firm increases output from 40 to50 units. Which of the following is true ifMC is constant?a. FC 5 $100b. FC 5 $200c. FC 5 $300d. FC 5 $400