Suppose the revenue function of selling Narra wood furniture is given by R(x)=x(150-45x). The overhead production of producing Narra wood is P1,000 while the variable costs equal to 120 per unit. (a) Set up the total cost function: C(x() = (b) Set up profit function: P(() = (C) Find the break - even points (in units): BEP =Peter Bradley, the managing editor of the Mebuhay Magazine, needs to develop a forecasting system for monthly newsstand sales in order to schedule press runs. The table below shows the sales in thousands of copies for the first 8 months of 2020 (the year of publication). Month January February March April May June July August Sales 52 62 54 70 62 65 65 What is the seles forecast for the month of September using exponential smoothing with smoothing parameter of 0.25? Select the correct response: 65,755 copies O 65,849 copies O 59,200 copies 61,521 copiesThe relationship d = 5000 - 25p describes the demand (o) as price (p) varies. How many units can be sold at the $20 price? Select the correct response. O 4500 O 4750 O 5740 4570Classify each of the following costs as fixed costs, variable costs, or blended costs. Match each item to a choice: A chief executive officer salary of P2,063,361 per year. Sales staff who are compensated at a salary of P8,000 per month plus 15% of sales. Placing a commercial on television for P450,000. Choices: 1: Variable Cost 1: Blended Cost Fixed CostQuestion 4 of 21 2 Points A manufacturer of Buri furniture sells all chairs that he purchase. If his total cost function is given by C(x) = 40x + 2000 and his total revenue function by R(x) = 50x, where x represents the number of chairs produced and sold. Based on the given problem, what will be the TOTAL REVENUE when there were 10 chairs produced and sold? Select the correct response: O 6000 O 5000 500 2400A manufacturer of Buri furniture sells all chairs that he purchase. If his total cost function is given by C(x) = 40x + 2000 and his total revenue function by R(x) = 50x, where x represents the number of chairs produced and sold. Which of the following is the correct Profit function based on the given problem? Select the correct response: O 2000+90x 10x-2000 2000-10x O 10x+2000If a company has fixed costs of P6,000 per month and their product that sells for P200 has a contribution margin ratio of 30%, how many units must they sell in order to break even? Select the correct response: 200 O 20000 100 180 O 2000A company's product sells for P1500 and has variable costs of P600 associated with the product. What is its contribution margin ratio? Select the correct response: 10% O 60% O 90% 40%The table below shows a summary of the future sales forecast (In thousands of units) Forecasting Model Forecast MSE Moving Averages 300 3.22 Exponential Smoothing 400 4.33 Trend Projection 500 5.06 Which Is the most accurate forecasting model? Select the correct response: O Trend projection O Exponential smoothing O Delphi method O Moving averagesThe Vintage Restaurant, on Captiva Island near Fort Myers, Florida, is owned and operated by Karen Payne. The restaurant just completed its third year of operation. During that time, Karen sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. Through the efforts of Karen and her staff, her restaurant has become one of the best and fastest-growing restaurants on the island. To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. The following table shows the value of food and beverage sales ($1,0009) for the first three years of operation: First Second Third First Second Third Month Year Year Year Month Year Year Year January 247 268 287 July 145 157 166 February 235 238 255 August 152 161 174 March 237 252 270 September 110 122 126 April 178 193 205 October 130 130 148 May 184 193 210 November 157 172 178 June 135 144 155 December 206 230 235 Using the dummy variable approach, forecast sales for January through December of the fourth year. Month Forecast (expressed in $1000s) January July August October December Assume that January sales for the fourth year turn out to be $295,000. What was your forecast error? Forecast error: What month do we expect the lowest sales