SOLUTION: If you are a company and your fixed cost for producing a product is $55 and you are charging $15 for that product and there is an additional labor cost of $4 per item produced;
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Question 634490: If you are a company and your fixed cost for producing a product is $55 and you are charging $15 for that product and there is an additional labor cost of $4 per item produced;
Establish an equation to determine revenue,
Establish an equation to determine total cost.
I am confused on how to input the labor cost! Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! If you are a company and your fixed cost for producing a product is $55 and you are charging $15 for that product and there is an additional labor cost of $4 per item produced;
Establish an equation to determine revenue,
Revenue = 15x where "x" is the number of units produced.
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Establish an equation to determine total cost.
Cost = 55 + 4x where "x" is the number of units produced.
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Cheers,
Stan H.
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