# Cost of Production

Feb 3rd, 2012
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This is an economics assignment of cost analysis. We analyze the production of Joseph Farms Inc's cost and revenue data. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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Column 1Column 2Column 3Column 4Column 5Column 6Column 7Column 8Column 9Column 10Column 11Output LevelPrice Per UnitTotal Fixed CostTotal Variable CostTotal CostAverage Fixed CostAverage Variable CostAverage Total CostMarginal CostMarginal RevenueTotal Revenue0165125125116512511323812511323811316516521651252133386310716910016533031651253004254210014287165495416512537550031941257516566051651254635882593118881658256165125563688219411510016599071651256758001896114112165115581651258139381610211713816513209165125975110014108122162165148510165125116312881311612918816516501) Show calculations.Column 2: Since the price is \$165, all the rows should be \$165. Column 3: Since the fixed cost is \$125, all the rows should be \$125. Column 4: Given.Column 5: Total cost is a sum of total fixed cost and total variable cost. Each row should be; 125+0=125, 125+113=238, 125+213=338, 125+300=425, 125+375=500, 125+463=588, 125+563=688, 125+675=800, 125+813=938, 125+975=1100, 125+1163=1288. Column 6: Average Fixed cost = Total fixed cost / Output level

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