Hartford Incorporated produces toys. Total manufacturing costs are $360,000 when 50,000 toys are produced. Of this amount, total variable costs are $140,000. What are the total production costs when 95,000 toys are produced? (Assume the same relevant range for both production levels.)

$486,000

Explanation:

Total production cost = Total fixed cost + Total variable cost

Fixed cost does not vary with production levels e.g. rent

Variable cost varies with production level e.g. wages of labour

When 50,000 toys are produced:

Fixed cost = $360,000 -  $140,000 = $220,000

Variable cost per unit = $140,000 / 50,000 = $2.80

When 95,000 toys are produced, fixed cost would still be $220,000

Total variable cost When 95,000 toys are produced = 95,000 x $2.80 = $266,000

Total production cost = $220,000 + $266,000 = $486,000

I hope my answer helps you

b

explanation:

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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