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From the following data write the standard cost card for one unit of the sole product manufactured.
Standard Cost card for One Unit Direct Materials 20 Kgs A @Rs.0.80 per Kg 15 Kgs B @Rs.2.40 per kg Director Labour Preparation 14 hrs @ Rs.3.75 per hour Assembly 5 hrs @ Rs.2.50 per hour
The budgeted full overheads for year: Rs. Hours Preparation Dept. 88,000 21,000 Assembly Dept. 150,000 24,000
The fixed overheads (contained in the above figures) are Rs. 25,000 and Rs. 48,000 respectively. Requirement: The standard cost card should show sub totals for:
a. Prime cost b. Variable production cost c. Total production cost
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Q. A firm's total cost function is given by TC = 2Q 2 + 10. What are the firm's fixed cost, variable cost, average fixed cost, average variable cost, and marginal cost functions?
A firm uses capital and labor to produce a single output good. The production function is given by F(K, L) = K 2 L where K is the amount of capital and L is the amount of labor em
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