Filling in a Cost spreadsheet
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During the last few days the Company ABC has been running into problems with its computer system. The last run of the production cost schedule resulted in the incomplete listing shown below. From your knowledge of cost theory, fill in the blanks.
Q TC TFC TVC ATC AFC AVC MC
0 40 _____ _____ x x x x
1 _____ _____ _____ 52 _____ _____ _____
2 _____ _____ 20 _____ _____ _____ _____
3 _____ _____ _____ 21.33 _____ _____ _____
4 _____ _____ _____ _____ _____ _____ 4
5 _____ _____ 40 _____ _____ _____ _____
6 _____ _____ _____ 15.67 _____ _____ _____
7 _____ _____ _____ _____ _____ 10 _____
8 _____ _____ 96 _____ _____ _____ _____
9 _____ _____ _____ _____ _____ 15 _____
10 _____ _____ _____ _____ _____ _____ 45
Q = Production; TC = Total Cost; FC = Fixed Cost; TVC = Total Variable Cost; ATC = Average Total Cost; AFC = Average Fixed Cost; and MC = Marginal Cost
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Solution Summary
Given a partially filled-in spreadsheet of a firm's costs, this solution gives the formulas for each type of cost and shows how to calculate the missing values.
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See the attached file. The formulas in the cells show how each ...
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