For this assignment, you will be creating cost curves for ABC furniture. Use the attached excel spreadsheet to complete the assignment. Use formulas to fill in each column. I recommend you use the second sheet of the workbook to find the total variable costs, then copy past them into the first sheet of the workbook. Econ 101 Asst. 2 - ABC Furniture.xIsx ABC Furniture is trying to figure out how to minimize its cost when producing couches each month. To figure 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 firm wants to minimize its average total cost per couch, how many couches should they produce? ASSIGNMENT 2 - ABC Furniture \begin{tabular}{|r|} \hline \\ \hline 1 \\ \hline 2 \\ \hline 3 \\ \hline 4 \\ \hline 5 \\ \hline 6 \\ \hline 7 \\ \hline 8 \\ \hline 9 \\ \hline 10 \\ \hline 11 \\ \hline 12 \\ \hline 13 \\ \hline 14 \\ \hline 15 \\ \hline 16 \\ \hline 17 \\ \hline 18 \\ \hline 19 \\ \hline 20 \\ \hline 21 \\ \hline 22 \\ \hline 23 \\ \hline 24 \\ \hline 25 \\ \hline 26 \\ \hline 27 \\ \hline 28 \\ \hline 29 \\ \hline 30 \\ \hline \end{tabular} For this assignment, you will be creating cost curves for ABC furniture. Use the attached excel spreadsheet to complete the assignment. Use formulas to fill in each column. I recommend you use the second sheet of the workbook to find the total variable costs, then copy past them into the first sheet of the workbook. Econ 101 Asst. 2 - ABC Furniture.xIsx ABC Furniture is trying to figure out how to minimize its cost when producing couches each month. To figure 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 firm wants to minimize its average total cost per couch, how many couches should they produce? ASSIGNMENT 2 - ABC Furniture \begin{tabular}{|r|} \hline \\ \hline 1 \\ \hline 2 \\ \hline 3 \\ \hline 4 \\ \hline 5 \\ \hline 6 \\ \hline 7 \\ \hline 8 \\ \hline 9 \\ \hline 10 \\ \hline 11 \\ \hline 12 \\ \hline 13 \\ \hline 14 \\ \hline 15 \\ \hline 16 \\ \hline 17 \\ \hline 18 \\ \hline 19 \\ \hline 20 \\ \hline 21 \\ \hline 22 \\ \hline 23 \\ \hline 24 \\ \hline 25 \\ \hline 26 \\ \hline 27 \\ \hline 28 \\ \hline 29 \\ \hline 30 \\ \hline \end{tabular}