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tia_tia [17]
3 years ago
7

The manufacturing cost of Calico Industries for three months of the year are provided below. Total Cost Production (units) April

$119,400 281,300 May 92,000 162,800 June 99,000 238,000 Using the high-low method, the variable cost per unit and the total fixed costs are a.$0.41 per unit and $27,351 b.$4.14 per unit and $5,470 c.$2.30 per unit and $5,470 d.$0.23 per unit and $54,701
Business
1 answer:
elena55 [62]3 years ago
7 0

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Total Cost Production (units)

April $119,400 281,300

May 92,000 162,800

June 99,000 238,000

<u>To calculate the variable cost per unit and the total fixed cost, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (119,400 - 92,000) / (281,300 - 162,800)

Variable cost per unit= $0.231

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 119,400 - (0.231*281,300)

Fixed costs= $54,701

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Based on the information given the correct entry to record this transaction is:

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2 years ago
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Answer:

Please see explanation below.

Explanation:

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In the first scenario, given that both the private good and public good are perfect substitutes, the optimum quantity produced by the government is at the point where marginal social cost is equal to the marginal social benefit. This optimum output is lower than that of the private firm because the price of public good is higher than price of private good (since marginal social cost > marginal private cost).

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