26) Which of the following is a fixed cost for a chocolate factory over the course of a month? A) Depreciation of machines due simply to their ageB) Overtime payC) The cost of cocoaD) The cost of electricity (paid quarterly) for running the mixing machines

Cost is defined as an expenditure which is required to produce or sell a product . Fixed Cost is…

Answered: Which of the following is a fixed cost…

Business

Economics

Which of the following is a fixed cost for a chocolate factory over the course of a month?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Related questions

Q: Calculate the fixed costs using the following information: :sales $234,760 :variable rate 0.36 :loss…

A: This question asked us to calculate the fixed costs. Fixed costs are a component of total costs that…

Q: An total revenues, O opportunity cost; including economic profit accounting profit; excluding…

A: In economics, the term profit is defined as the difference between the revenue of a firm that it…

Q: Ali is the managerial accountant in charge of Company A, which sells water bottles. He previously…

A: Given: Fixed cost (FC) = $200,000 Variable cost (VC) = $5 per unit Selling price (P) = $10

Q: 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 0.202 +120Q + 5,000, the…

A: Marginal cost (or MC in short) reveals the extra cost incurred by the business unit when it…

Q: 5) If Hilltoo Turf Farm's total cost of producing acres of sod is TC = 0.202-1200 - 5,000, the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Point F indicates _____? A) where the cost per unit is at a minimum; B) where the AVC is at a…

A: The graph in the question shows cost curves where curve ending with point A is Marginal cost (MC)…

Q: 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC= 0.20- 1200 - 5,000, the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: are likely a fixed cost of a firm. O The payments for supplies O Travel expenses to meet with…

A: We have to find fixed cost of a firm.

Q: a) You have been given the following information on costs. Segregate them into fixed and variable…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: In a company, amount of total fixed costs is 6000 TL Variable cost per unit is 10 TL. Selling price…

A: The number of additional units required to pay the cost of a marketing campaign or other sort of…

Q: Need help with c (the break even point) and d (the price range for which the company will make a…

A: X Y = 159.24x+65065.22 280 159.24*280+65065.22 =…

Q: A manufacturing firm faces the cost of production as follows : Quantity Total Fixed Costs Total…

A: Formulas used in the question are as follows: Average Fixed Cost = Total Fixed Cost/ Output…

Q: The graph shows the cost curves are they profit maximizing firm in a competitive market. If the…

A: In a competitive market, there are a large number of sellers and buyers who have full information…

Q: A local baker owns a small shop in a very busy downtown section that the baker uses to bake loaves…

A: In economics, operating cost is the expenditure incurred on daily basis as it is the ongoing cost of…

Q: Glen Eira City Council wants to impose a tax to fish and chips shops. It is considering two types of…

A: Since the second part of the question is not complete, we can provide you only the answer for the…

Q: Perko manufactures and sells coffee cups. Graphs of the revenue and cost functions are shown below.…

A: An inverted U-shaped revenue curve typically represents a situation where total revenue initially…

Q: Water and electricity used in manufacturing company is an example of: A Manufacturing overhead -…

A: The markets are the place where the buyers of various goods, and services tend to meet and interact…

Q: Complete the following table of short-run fixed costs. (Enter your responses rounded to two decimal…

A: Total cost is the sum of total fixed cost and total variable cost. Fixed cost are the cost that…

Q: 8.1 The fixed costs at Harley Motors are $1M annually. The main product has revenue of $9.90 per…

A: c. ‘Harley motors have annual fixed charge which is adequate to $1 million. the most…

Q: construct the cost schedule for a firm operating in the short run b) Graph the average variable…

A: At zero level of quantity, total cost and total fixed cost are equal, and total variable cost is…

Q: A shoe company manufactures and sells a pair of shoes with the following cost and revenue data:…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Table Q1(c) shows the long-run total cost information for Firms A, B, C and D in a hypothetical…

A: There will be constant returns to scale when the average cost in the long run remains constant at…

Q: If the firm sells 5 units at a price of $30 each, then the Quantity Cost Fixed Total Average (in…

A: Where the marginal revenue is equal to marginal cost to maximize its profit. Profit is the…

Q: Which one of the following is a fixed cost for a handmade furniture manufacturer? The cost of…

A: The total costs of any firm in the short run comprise the firm's fixed costs and its variable costs.…

Q: The CDE Co. manufactures widgets which it sells for $9.00 each. The variable cost of each unit is…

A: Break - even quantity is the number of units that the firm needs to sell to cover the cost of…

Q: Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: Engr. Sy wants to calculate the break-even point for the number of jobs needed for the new transport…

A: Here, Given information is: Fixed cost: P59 Variable cost per job: P2.63 Selling price for each…

Q: (c) The cost function of a firm is given below: पतंजलि 4 Output Total Cost () 1 60 80 100 111 116…

Q: 2. Classify the following items as start-up costs or operating expenses or both for a carpenter. nom…

A: 2) The process of creating goods and services to suit human needs is known as production. A product…

Q: The following production table gives estimates of the maximum amounts of output possible with…

A: The change in output brought on by one more unit of input is known as the marginal product. It is…

Q: 5) If Hilltoo Turf Farm's total cost of producing acres of sod is TC = 0.202-1200 - 5,000, the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 10. Chef Company makes and sells pre-packed lunches. The variable cost of each lunch is $4. The…

A: The breakeven point implies the point at which a company fully covers its variable and fixed costs…

Q: Output 012345 Total Cost $15 100 145 205 290 410 If market price is $100, the maximum profit the…

A: In a competitive market, no single buyer or seller can influence the price(P) of the product.…

Q: Use the following information to answer question 22-23 Number of Workers Hired 4 3 6 7 B seventh…

A: Since you have posted multiple MCQs from different topics, we will be solving only the first two…

Q: The explicit costs of the firm is given as $2000 and the total revenue is $7700 Calculate the…

A: We are given that:- Explicit costs of the firm = $2000 Total revenue of the firm = $7700 We need to…

Q: 8.1 The fixed costs at Harley Motors are $1M annually. The m revenue of $9.90 per unit and $4.50…

A: Profit is calculated by finding the difference between total revenue and total cost.

Question

26) Which of the following is a fixed cost for a chocolate factory over the course of a month?

A) Depreciation of machines due simply to their age
B) Overtime pay
C) The cost of cocoa
D) The cost of electricity (paid quarterly) for running the mixing machines

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Q3 need in 10 minutes
The level of output at which average total costs equal áverage revenue or market price is: (a) The shut down output LTH€ breakeveni output O The marginal physical product (d) The marginal value product
swered Costs per Unit (dollars) 1000 900 800 700 600 500 400 300 200 100 0 4 Average total cost B Marginal cost Output (units per day) Average variable cost Average fixed cost 22 24 How many units of output should be produced per day if the price of the product is $600/unit? (provide an approximate answer in whole numbers)
Please solve with proper explanation and calculation
ANSWER LETTER A AND B
Q4- A firm producing lamps has fixed costs of €1000 per week. 1) f a kamp costs €15 to produce. (a) Write down the equation for total cost. (b) Graph the total cost function for Q = O to 100 (c) Calculate the cost of producing 25 lamps. (d) How many lamps are produced when total costs are C7000? 2) If the lamps are sold for €35 each. (a) Write down the equation for total revenue. (b) Graph the total revenue function for Q = 0w 100. (c) How many lamps are sokl when total revenue is €1750? (d) Does the firm's revenue exced costs when 80 lamps are sold? Calculate the rofit/loss when 80 lamps are sold.
Cost, revenues (dollars) 4.00 3.50 MC 20 Quantity ATC MR If this firm is currently producing 20 units of output, this firm:
A-3
discuss IKEA Variable product cost per item and Fixed product overhead costs per item
10. If the total cost function for a product is given by: TC - 1500 + 5Q- 10 Q² +Q° And if the output level is 100 unit, derive and find the value of: a. The fixed cost (FC)
Please written by computer source
3