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Homework answers / question archive / Compute the table below

Compute the table below

Accounting

Compute the table below. Show steps and give formulas.

 

  Total Variable Fixed Marginal Average Avg.Var. Avg. fixed
Output Cost Cost Cost Cost Cost Cost Cost
0              
1       5      
2         30    
3           13  
4 105           10
5   110          
6       50    

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We can use the following formula to compute the table:

  • total cost = fixed cost + variable cost
  • average cost = total cost / units of output
  • average variable cost = variable cost / units of output
  • average fixed cost = fixed cost / units of output
  • marginal cost = change in variable cost

 

  Total Variable Fixed Marginal Average Avg.Var. Avg. fixed
Output Cost Cost Cost Cost Cost Cost Cost
0 0 0 40 0 0 0  
1 45 5 40 5 5 5 40
2 60 20 40 15 30 15 20
3 79 39 40 19 26.33 13.00 13.33
4 105 65 40 26 26.25 16.25 10.00
5 150 110 40 45 30.00 22.00 8.00
6 200 160 40 50 33.33 26.67 6.67

Total Cost:

Total cost is the sum of variable cost and fixed cost. Average variable cost is total variable cost divided by the number of units produced. Total fixed cost does not vary with production volume.

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