ment 2 Summer 2021 - Last Modified: Mon at 12:44 AM . O Search eferences Mailings Review View Help note Manage Sources Insert Table of Figures Insert Index EP Insert Table of Au Update Index Update Table Search Researcher Insert Style: MLA Insert Update Table Mark Mark Citation ~ LL Bibliography Caption LE Cross-reference Entry Citation Research Citations & Bibliography Captions Index Table of Authorities Assignment 2 Assignment 2 1. Using all this information complete the following table and answer the question Learning Outcomes It would be easier if you set this up in an Excel spreadsheet. When you are do you must submit it as a Word document with your answers. You will use this t The learner will be able to: to answer questions 2 and 3_(4 marks) Calculate average marginal and total costs given a companies fixed and variable cost data, Your first step is to identify which are fixed costs and which are variable costs. Given a specific business situation, calculate the point of profit maximization in the short you will have to keep paying the cost whether you produce 0 units of the produ term. or 10,000 units, then it is a fixed cost. In the short run you have to keep paying Instructions In the long run you are be able to change these fixed costs. A variable cost changes based on how much of the product you produce. But the variable cost 1. Complete the exercises below, answering all questions, In this exercise you are may not change all at the same time. trying to maximize profits (or minimize losses). Don't forget to answer the questions as well as create the table. 2 Submit the assignment in a WORD document using the Assignment Submission | # of TVC AVC AFC TC ATC MC feature. Assignments not submitted as a Word document will not be accepted. workers Q Assignments submitted in Excel or PDF format will be returned unmarked. TVC/Q FC/Q FC Assignments that are emailed will not be accepted. VC TCIO ATCI 40 0 A company produces gold picture frames. The cost per picture frame is: 1 9.000 Materials $8 2 22,000 Packaging Decorations on the frame SA Shipping and handling $1.5 3 38,000 Each worker ears $31,500 annually in salary and benefits. The number of workers 4 56,000 changes based on the level of production. This means this is a variable cost. 5 66,000 The artist who creates the designs on the picture frames is paid $25,000 annually. Senior management are paid a total of 5220,000 annually. Other annual costs are 6 72,000 Taxes and Insurance $17.000 73,000 Utilities $60.000 Rent $160,000 Miscellaneous Overhead Expenses $24.000 The following production is possible No. Of 0 3 5 6 Workers No. Of 9.000 22.000 38,000 56,000 66,000 72,000 73,000 Picture Frames that can be made
