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Math Help - how would i be able to find the total costs?

  1. #1
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    how would i be able to find the total costs?

    how would i be able to find the total costs of this table?



    i know that to find the total cost , total cost = fixed costs + variable costs, but this time it doesn't have variable costs and it has hourly wages and etc.

    thanks!
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  2. #2
    Senior Member
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    The way I read the table, 40 in the Total cost column (when product quantity is zero) is the fixed costs.
    Then each line add employee hours, which you multiply by hourly rate ($10) and add to fixed costs = total costs. They will grow as the employee hours increase.
    Marginal cost is the difference between the two lines of total cost (one above and one below).

    Your variable costs here is $10/hour of employee time.
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  3. #3
    Senior Member
    Joined
    Nov 2010
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    Hong Kong
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    The way I read the table, 40 in the Total cost column (when product quantity is zero) is the fixed costs.
    Then each line add employee hours, which you multiply by hourly rate ($10) and add to fixed costs = total costs. They will grow as the employee hours increase.
    Marginal cost is the difference between the two lines of total cost (one above and one below).

    Your variable costs here is $10/hour of employee time.
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