Sam's total expenses last month were $1840. What was his total variable cost for last
1 answer:
Answer:
$1500
Step-by-step explanation:
It is given that
Rent = $100
Groceries and drinks = $1000
Insurance premiums = $10
Loan interest payment =$30
Clothes = $200
Utilities = $300
Home security fee = $200
Fixed cost are costs that does not vary and variable cost are costs that vary with goods and services.
In the given problem, rent , insurance premiums, loans interest payment ad home security fee are fixed cost.
Groceries and drinks, clothes and utilities are variable cost.
So, total variable cost for last month is
Therefore, total variable cost for last month is $1500.
You might be interested in
It is given in the question that,
Since we have the value of r given, so we have to use the formula to find the nth term of the geometric progression, which is
Substituting the values of a and r, we will get
So the correct option is the third option .