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QUESTION 5 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1-12. Test Company derived the following cost function for the production of its product. Cost = $16,000+ $10X, where x is the number of units. Next month, Test Company expects to produce 5,000 units. Determine the fixed cost per unit to produce 5,000 units. Note: Give your answer using dollar signs and state your answer to the nearest cent. Example: $12.34 or $12.00

QUESTION 5 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1-12. Test Company derived the following cost function for the production of its product. Cost = $16,000+ $10X, where x is the number of units. Next month, Test Company expects to produce 5,000 units. Determine the fixed cost per unit to produce 5,000 units. Note: Give your answer using dollar signs and state your answer to the nearest cent. Example: $12.34 or $12.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 5 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1-12. Test Company derived the following cost function for the production of its product. Cost = $16,000+ $10X, where x is the number of units. Next month, Test Company expects to produce 5,000 units. Determine the fixed cost per unit to produce 5,000 units. Note: Give your answer using dollar signs and state your answer to the nearest cent. Example: $12.34 or $12.00
Transcribed Image Text:QUESTION 5 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1-12. Test Company derived the following cost function for the production of its product. Cost = $16,000+ $10X, where x is the number of units. Next month, Test Company expects to produce 5,000 units. Determine the fixed cost per unit to produce 5,000 units. Note: Give your answer using dollar signs and state your answer to the nearest cent. Example: $12.34 or $12.00
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