Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

(9 points) A company finds that their total production costs for a certain item are modeled by C() = 17+ 1.5 In(4x + 1) hundred

image text in transcribed
(9 points) A company finds that their total production costs for a certain item are modeled by C() = 17+ 1.5 In(4x + 1) hundred dollars, where x is the number of cases of the item that are produced (a) The fixed cost of this production is S 1700 When 30 cases of the item are produced, the total production cost is $ fround to the nearest whole dollar). This means that when 30 cases are produced the average cost is $ per case (round to the nearest cent). cases (round to (b) if the total cost of a production run is about $2500 then we expect the production level will be at nearest whole number). (c) Suppose that cases of the items are sold at a price of $64.69 for each case. When 61 cases are produced and sold, the revenue will be and the company's profit will be $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Non Specialists

Authors: Catherine Gowthorpe

2nd Edition

1844802051, 978-1844802050

More Books

Students explore these related Accounting questions

Question

What do you think Kates reaction will be?

Answered: 3 weeks ago