The total plant cost for manufacturing CO2 warning devices that have a compact gas detector and a signaling unit is $1,154,400. If the overall costfactor for the plant was 2.61, the delivered equipment cost was closest to:a. $442,300b. $501,200c. $593,700d. $613,900

The total plant cost for manufacturing CO2 warning devices that have a compact gas detector and a signaling unit is $1,154,400. If the overall costfactor for the plant was 2.61, the delivered equipment cost was closest to:a. $442,300b. $501,200c. $593,700d. $613,900

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Related questions

Q: Alpha Associates has the following details: Fixed cost = $20,00,000 Variable cost per unit = $ 100…

A: Following are the given values: FC = $2000000VC = $100Price = $200Quantity = 60000

Q: An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost…

A: When average variable cost is given, total variable cost can be computed by multiplying AVC and…

Q: Question 13 The cost index method is used estimate the cost of a component, system, or plant by…

A: Cost index are some of the time likewise alluded to as information records. The expense file…

Q: The manufacturer produces certain items at a labor cost per unit of 315, material cost per unit is P…

A: The breakeven point is the level of production at which the costs of production equal the revenues…

Q: The delivered-equipment cost for a fully equipped CNC machining system is $4.4 million. The direct…

A: Total plant cost can be calculated by using the following formula.

Q: "Rancor Inc. had a per-unit conversion cost of $3.50 during April and incurred direct materials cost…

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

Q: The total cost for a production plant that supplies hydrogen to the refining industry is estimated…

A: a) Following information is given: Equipment cost = $17.8 million Total estimated cost = $55.4…

Q: a) Determine the variable cost per unit and the fixed cost using the high-low method. b) What is the…

Q: The total design and construction cost for a sand filter machine to handle a flow rate of 0.7…

A: Cost Inflation Index (CII) is used to estimate the increase in the prices of goods and assets…

Q: The Department of Defense uses area cost factors (ACFs) to compensate for differences in…

A: Cost in H and M regions (CH) is $2.19. cost in M and A region (CM) is $0.83. cold storage cost in M…

Q: A manufacturer produces certain items at a labor cost of P 115 each, material cost of P 76 each and…

A: Given: The labor cost is = P115 each The material cost is = P76 each The variable cost is = P2.32…

Q: When using the Top-down Cost Estimation Approach.. Note: This is a Multiple Answer question. Select…

A: The top-down cost estimation approach is a tool used by upper-level management to estimate the total…

Q: An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost…

A: Here, average variable cost function is given as: AVC=96-2Q+0.05Q2 This function can be used to…

Q: Economics In one company it was calculated that producing 20 units 7 years ago would cost the…

A: Introduction Cost capacity equations also known as sizing model. Capacity cost is an expenditure or…

Q: Estimate the cost of a 0.75 million gallon per day (MGD) induced-draft packed tower for…

Q: A Fast-Moving Consumer Goods (FMCG) Company produces certain items at a labor cost of P 115 each,…

A: Given information are- Labor cost =P115 per unit Material cost =P76 per unit Variable cost =P9 per…

Q: The equipment for applying specialty coatings that provide a high angle of skid for the paperboard…

A: The overall cost factor (OCF) is 3.96. Delivery cost (DC) is $390,000. The total plant cost (TPC)…

Q: The estimated cost for a multitube cyclone system with a capacity of 60,000 cubic feet per minute is…

A: Suppose, the capacity (CA) of new machine is 60,000, cost of new machine (C) is $450,000. Capacity…

Q: The cost of an electrode position control system in an electric arc furnace was $16,000 when the…

A: The cost of arc furance = $16000 Exponent = 0.65

Q: Use the cost index method to estimate the current construction cost for a building equivalent to one…

A: Cost indices are sometimes also referred to as input indices. The cost index describes changes in…

Q: The delivered equipment cost for setting up a production and assembly line for high-sensitivity,…

A: The total plant cost estimate can be calculated as follows:

Q: company produces a certain commodity. The labor and material cost for each item produce is P112.…

A: We have given that Labor and materials cost = P112 per unit Other Variable cost = P67 per unit…

Q: In 2009, the Office of the Under Secretary of Defense projected that a critical International…

A: Suppose, the present value (PV) is $3,423. Actual future value (FV) is $5,167. Time period (n) is 7…

Q: The equipment cost for removing arsenic from a well that delivers 800 gallons per minute is $1.8…

A: Given:- The equipment cost is given as $1.8 million or $1,800,000 The overall cost factor is 2.25.…

Q: The Waste Not – Want Not ([WN]²) company makes compressed soap tablets that can be “rehydrated" for…

A: Answer: Given, Fixed cost up to 400,000 tablets per month = $125,000 per month Price of tablet =…

Q: The cost for a 200-horsepower (hp) pump, with controller, is $22,000. The cost estimate of a similar…

A: Cost- capacity can be calculated as follows:…

Q: When all the unit cost curves are below the MC curve, the AVC and AC curves are declining.

A: Ans. in step 2

Q: The average cost function is:- 21Q - 33 Calculate the total cost function

A: We are given that the average cost function of the firm is as :- 21Q - 33 We need to calculate the…

Q: For the cost function CO) = 100 - 20 - 302, the average fixed cost of producing 2 units of outout…

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

Q: A car wheel making company has the following data related to cost: Total Cost = $ 15000 + 1000X and…

A: Break-even point: It is the point where TC=TR.

Q: An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost…

A: When talking about cost functions of a firm, it can be said that these coste function are…

Q: can be shown as P = 3 000 - 100Q. It has fixed costs of R1 000 and additional cost per unit produced…

A: The marginal cost is the change in the total cost that arises when the quantity produced is…

Q: If the cost of an 8000-operation-per-second assembly line robot is $80,000 and the cost for one with…

A: The cost-capacity equation states that the ratio of costs of current and previous capacities is…

Q: FEMA (Federal Emergency Management Agency) has ordered 25 specialized test units capable of field…

A: Here, FEMA has ordered 25 specialized test its capable of field checking separate elements Thompson…

Q: The cost of producing a certain commodity consists of 45.00 per unit for labor and material cost and…

A: The break even point in economic aspects, business — and explicitly cost bookkeeping — is the place…

Q: A company sells its product at 60 OMR per unit. Fixed cost for the company is 18000 OMR and the…

A: Given - Selling Price (P) = 60 OMR Fixed Cost (FC) = 18000 OMR Variable Cost (VC) = 25% of Total…

Q: Given the Total cost Function, TC = 5,600 + 27Q - 6Q² - .5Q³, solve for AC, MC, AVC and AFC

A: Formula to calculate:- 1) Average Cost AC=TCQ 2) Marginal Cost MC=dTCdQ 3) Average variable cost…

Q: An assembly line robot arm with a first cost of $75,000 in 2001 had a cost of $89,750 in 2017. If…

A: Cost (C) in 2001 is $75,000. Cost (C) in 2017 is $89,750. Cost index (CI) in 1995 is 307.

Q: Estimate the cost of a 0.75 million gallon per day (MGD) induced-draft packed tower for…

A: Suppose, the given cost (C) is $153,200. Quantity (Q) is 0.75 million gallon and the value of n is…

Q: The fixed cost element for the firm is a. $11,250 b. $10,250 c. $12.250

A: Mixed costs have a nature of fixed costs as well as variable costs. They have a certain fixed…

Q: The delivered equipment cost for setting up a production and assembly line for high-sensitivity,…

A: The equipment cost (EC) is $650,000. The direct cost factor (DF) is 1.36. the indirect cost factor…

Q: In the early and conceptual design stages of a project, what are the cost estimates called?…

A: Cost estimates are considered important for a business as they need to check on to the costs before…

Q: The Department of Defense uses area cost factors (ACFs) to compensate for differences in…

A: The ACF in the Andros Island = 1.70 The ACF for Rapid City = 0.93 Warehouse cost in Rapid city =…

Question

The total plant cost for manufacturing CO² warning devices that have a compact gas detector and a signaling unit is $1,154,400. If the overall cost
factor for the plant was 2.61, the delivered equipment cost was closest to:
a. $442,300
b. $501,200
c. $593,700
d. $613,900

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

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

The cost for a 200-horsepower (hp) pump, with controller, is $22,000. The cost estimate of a similar pump of 300 hp capacity, provided the exponentin the cost-capacity equation is 0.64, is closest to:a. $12,240b. $28,520c. $33,780d. $39,550
The cost of constructing an 8000 ft2 warehouse was $400,000. The ENR construction cost index was 6770 at that time. The cost of constructing asimilar building using an ENR index of 9088 is closest to:a. less than $450,000b. $537,000c. $672,000d. more than $700,000
The delivered equipment cost for setting up a production and assembly line for high-sensitivity, gas-damped accelerometers is $650,000. If the direct cost and indirect cost factors are 1.36 and 0.31, respectively, and both factors apply to delivered equipment cost, the total plant cost estimate is approximately:a. $2,034,500b. $1,735,500c. $1,384,500d. $1,183,000
If AFC=60 and ATC=120 when output is 100, then total variable cost must be: 60 40 6000 8000
A company operates a summer camp. The cost data for a 12-week summer camp is as follows: Charge per camper $400/week. Variable cost per camper $220/week, Fixed costs $240,000 per summer season Capacity per week 200 camper. the total number of campers to breakeven for the season is
Determine the Total Cost if the Fixed cost are $16000 and the variable cost are $22000?
Fixed cost Variable cost No. of cupcake Total cost (FC+VC) $420 $2.10 1 $422.10 $420 $42.00 20 $462.00 $420 $84.00 40 $504.00 $420 $126.00 60 $546.00 $420 $168.00 80 $588.00 $420 $210.00 100 $630.00 TC = $420 + 2.1x R= 4.90(x) (I) Graph both functions on the same coordinate axes.(II) From your graph find coordinatae at which cost equals revenue.(III) Using your graph, determine how many cupcakes need to be made to produce revenueof at least $1,029.How much profit is made for this number of cupcakes?
Owen conner works part time packaging software for a local distribution company in indiana. The annual fixed cost is $15,000 for this process, direct labor is $4.00 per package, and material is $5.00 per package. The selling price will be $15.00 per package. How much revenue do we need to take in before breaking even? What is the break even point in units?
A company manufactures and sells book-cases .The selling price is $54.90 per book case.The total cost.The total cost function is linear, and cost amounts to $50,000 for 2,000 book-cases and $32,120 for 800 book-cases. (a)Write the equation for revenue.(b)Write the equation for total cost. (c)Find the break even point.
Using annual cost method, what is the total annual cost of machine A, B, C, D.
A firm fixed cost are $2000 and firm total cost of producing 100 units is $4000
It is assumed that the machine handles a flow rate of 0.5 million gallons per day. The cost of the machine is $1.24 million in 2020. The correlation exponent is 0.14. The cost index has been updated from 156 to 221 this year. The cost today for a flow of 2.3 million gallons per day is: a. $8,752,042 b. $2,175,081 c. $5,347,061 d. $3,562,455