The ACME manufacturing company makes widgets. Their fixed costs are $1600 per month, while their cost...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The ACME manufacturing company makes widgets. Their fixed costs are $1600 per month, while their cost per widget is $10. They sell each widget for $29. If x is the number of widgets, answer the following. Give the cost function,C(x)=C(x)= Give the revenue function, R(x)=R(x)= Give the profit function, P(x)=P(x)= What is the minimum number of widgets the ACME manufacturing company must produce and sell each month to make a profit? NOTE that you need to enter a whole number since you can't produce part of a widget. The ACME manufacturing company makes widgets. Their fixed costs are $1600 per month, while their cost per widget is $10. They sell each widget for $29. If x is the number of widgets, answer the following. Give the cost function,C(x)=C(x)= Give the revenue function, R(x)=R(x)= Give the profit function, P(x)=P(x)= What is the minimum number of widgets the ACME manufacturing company must produce and sell each month to make a profit? NOTE that you need to enter a whole number since you can't produce part of a widget.
Expert Answer:
Answer rating: 100% (QA)
ANSWER AND EXPLANATION Refer to image Fixed cost 1600 cost per unit widget Sinc... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A few years ago, the ACME Manufacturing Company installed automated robots worth millions of dollars in its furniture assembly lines, believing that the robots would improve profitability and...
-
The Acme Manufacturing Company is concerned about its warehouse needs and how they can be best met. The company produces a line of spare parts for appliances. Due to the combination of production...
-
If X is the number of 7s obtained when rolling a pair of dice three times, find the probability that Y = X2 will exceed 2.
-
Help Mad Mildred's Magic Mall by determining the missing values in the table Labor (workers/day) Output (units/day) Total fixed cost ($/day) Total variable cost ($/day) Total cost ($/day) 50 50 50 75...
-
What acquisition- and disposition-year conventions are used in MACRS and to what types of property does each of the conventions apply?
-
The following information relates to the year ended 30 April 20*8 for the business of Sahera Patel: stock at 1 May 20*7 1,435; stock at 30 April 20*8 1,265; purchases 34,328; sales 72,548; returns...
-
Describe the SECs role in regulating securities transactions in the United States. Discuss the mission and purpose of the SEC.
-
Hudson Companys actuary has provided the following information concerning the companys defined benefit pension plan at the end of 2016: Fair value of plan assets (1/1/2016) ........ $350,000 Actual...
-
(a) A company has an EPS of Rs. 2.5 for the last year and the DPS of Rs. 1. The earnings is expected to grow at 2% a year in long run. Currently it is trading at 7 times its earnings. If the required...
-
For R, partition the data sets into 60% training and 40% validation and implement the 10-fold cross-validation. Use the statement set. seed(1) to specify the random seed for data partitioning and...
-
What is the pH of a 1 M HCIO, and 0.5 M NaCIO, solution? Ka of HCIO2 is 1.2 x10-2. O 1.62 O 1.92 O -2.22 O 2.22
-
Name an environment where wind shapes the landscape to a significant degree.
-
What is wind? What causes wind?
-
What is the name of the geologic process that involves dumping sediment at a new location?
-
How much sediment does the Mississippi River move each year?
-
Rank clouds classified as alto, cirro, and stratus according to their altitude, from highest to lowest.
-
EVS Inc manufactures electric scooters. Each scooter is sold for $3,500. Sales revenue for the current fiscal year (just ended) was $490,000. Variable costs totalled $252,000. Fixed costs for the...
-
You are a Loan Officer with an Investment Bank. Today you need to set your lending parameters. They are: LTV: 55% 10 Year T-Bill: TBD Rate Markup: 300 Basis Points Term: 30 Years Amortization: 30...
-
In equilibrium, 2,000 pounds of potatoes are sold each month. A new law requires sellers to buy permits before they can sell potatoes. One permit allows you to sell one pound, and permits can't be...
-
A socially conscious student has decided to reduce his meat consumption by one pound per week. True or False: That way, there will be one more pound of meat each week for somebody else to eat.
-
The American demand and supply curves for oranges cross at a price of $8, but all Americans are free to buy or sell oranges on the world market at a price of $5. One day, the U.S. government...
-
Using the information presented in Exhibit 4, the quick ratio for SAP Group at 31 December 2017 is closest to: A . 1.00. B . 1.07. C . 1.17.
-
Using the information presented in Exhibit 14, the fi nancial leverage ratio for SAP Group at December 31, 2017 is c losest to: A . 1.50. B . 1.66. C . 2.00.
-
Th e quick ratio for Company A is closest to: A . 0.43. B . 0.57. C . 1.00.
Study smarter with the SolutionInn App