For this assignment, you will be creating cost curves for ABC furniture. Use the attached excel spreadsheet to complete the assignment. Use formulas to ll in each column. | recommend you use the second sheet of the workbook to nd the total variable costs, then copy past them into the rst sheet of the workbook. Econ 101 Asst. 2 ABC Furniture.x|sx 'J/l ABC Furniture is trying to gure out how to minimize its cost when producing couches each month. To gure out where their unit costs are the lowest, they give you the following information: Each couch takes $250 of materials. Each couch takes $200-worth of wages for workers to produce. The factory owner knows that during regular hours they can produce 20 couches each month. After 20 couches, they need to keep the laborers into overtime. In overtime, they must pay the workers time and a half (1.5x their regular wage). The owner also knows that after 25 couches, the workers need to stay into double overtime (2x regular wage). The factory's rent is $2,500 a month. Fill in all missing columns of data. Once you have done this, create a graph which shows the factory's marginal cost curve and its average total cost curve. If the rm wants to minimize its average total cost per couch, how many couches should they produce? AutoSave OFF Econ 101 Asst. 2 - ABC Furniture Home Insert Draw Page Layout Formulas Data Review View Tell me Calibri (Body) v 12 AA ab, General Paste BI U V .. v MVAv = $ ~ % 9 00 .00 P14 X V fx A B C D E F G H I J K L 1 ASSIGNMENT 2 - ABC Furniture N Average # of Couches / Total Fixed Total Variable Average Variable Average Marginal 3 Month Cost Cost Total Cost Fixed Cost Cost Total Cost Cost 1 00 LO OO V O UT A W N 10 11 10 11 12 13 17 14 18 15 19 16 20 17 18 22 19 23 20 24 21 25 22 26 23 27 24 28 25 29 26 30 27 31 28 32 29 30