Chuck owns a factory that produces leather footballs. His total variable cost eq
ID: 1225560 • Letter: C
Question
Chuck owns a factory that produces leather footballs. His total variable cost equaled $161,000 last year. His total cost equaled $226,000 last year. Hence Chuck's
total fixed cost equaled $226,000.
total fixed cost equaled $65,000.
total fixed cost was zero.
average fixed cost equaled $12.50
None of the above answers is correct.
A)total fixed cost equaled $226,000.
B)total fixed cost equaled $65,000.
C)total fixed cost was zero.
D)average fixed cost equaled $12.50
E)None of the above answers is correct.
Explanation / Answer
Answer ) total fixed cost = total cost - total variable cost.thus , select B.) total fixed cost equaled $65,000.
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