Total Cost – NBC Institute

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

Question

The marginal cost of producing a particular item is given by

Required:
i. Find the total cost function , if the cost of producing 2 items is N1,660.
(7 marks)

ii. Find the cost of producing 50 items.

Answer

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Tags: Business Finance, Integration, Marginal Cost, Total Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2016

QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance

Find the level of output at which profit is maximized using given revenue and cost functions.

Question

Given that the Total Revenue (TR) function is:

and the Total Cost (TC) function is:

Determine the level of output at which profit is maximized. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Calculus, Output Level, Profit Maximization, Total Cost, Total Revenue
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2015

MI – May 2024 – L1 – SA – Q6 – Costing Techniques

Calculates the fixed cost based on total cost and activity levels.

Question

The following data were extracted from UVW Limited for a single product V: Activity (units) Total Cost (N) 144,000 3,624,000 842,000 12,000,000 Calculate the value of fixed cost.

A. N8,376,000
B. N6,200,000
C. N3,264,000
D. N1,896,500
E. N1,896,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costing Techniques, Fixed Costs, Marginal Costing, Total Cost
Level: Level 1

Topic: Costing Techniques
Series: MAY 2024

QT – May 2017 – L1 – Q3b – Elements of Calculus

Use integration to calculate total cost from a marginal cost function with a given fixed cost.

Question

At the Zee manufacturing company, the marginal cost for producing $x$ gears, measured in hundreds, is:

If the fixed cost (the cost of producing zero items) is GH¢3000:

Required:

Determine the total cost for manufacturing 5000 gears.
(11 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fixed Cost, Integration, Marginal Cost, Total Cost
Level: Level 1

Topic: Elements of Calculus
Series: MAY 2017

IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing

Features of a service, calculation of overhead absorption rates and production cost, addressing negative cash balances, and preparation of a flexible budget.

Question

a) Services are the non-physical, intangible parts of the Ghanaian economy, as opposed to goods, which we can touch or handle. Services, such as banking, education, medical treatment, and transportation make up a significant percentage of the economy.

Required: State and explain THREE (3) features of a service. (6 marks)

b) Edwin Ltd manufactures aviation components and parts to order, and the following are budgeted overheads for the year based on normal activity levels:

Department	Budgeted overhead	Labour hours
Welding	GH¢12,000	3,000
Assembly	GH¢20,000	2,000

Selling and administration overheads are 25% of factory cost.

An order for 350 units of engine parts, Job X 01, incurred the following cost:

Material cost: GH¢24,000
Labour:
- Welding: 200 hours @ GH¢5 per hour
- Assembly: 400 hours @ GH¢2 per hour
GH¢1,000 was paid for the hiring of a special x-ray machine for testing the welds.

Required: i) Calculate the overhead absorption rate for each department. (2 marks)

ii) Calculate the production cost for Job X01. (10 marks)

iii) Calculate the total cost of Job X01. (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Flexible Budget, Negative Cash Balances, Overhead Absorption Rate, Production Cost, Service Features, Total Cost
Level: Level 1

Topic: Budgeting, Marginal Costing and Absorption Costing
Series: DEC 2022

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

Question

The marginal cost of producing a particular item is given by

Required:
i. Find the total cost function , if the cost of producing 2 items is N1,660.
(7 marks)

ii. Find the cost of producing 50 items.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Finance, Integration, Marginal Cost, Total Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2016

QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance

Find the level of output at which profit is maximized using given revenue and cost functions.

Question

Given that the Total Revenue (TR) function is:

and the Total Cost (TC) function is:

Determine the level of output at which profit is maximized. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Calculus, Output Level, Profit Maximization, Total Cost, Total Revenue
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2015

MI – May 2024 – L1 – SA – Q6 – Costing Techniques

Calculates the fixed cost based on total cost and activity levels.

Question

The following data were extracted from UVW Limited for a single product V: Activity (units) Total Cost (N) 144,000 3,624,000 842,000 12,000,000 Calculate the value of fixed cost.

A. N8,376,000
B. N6,200,000
C. N3,264,000
D. N1,896,500
E. N1,896,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costing Techniques, Fixed Costs, Marginal Costing, Total Cost
Level: Level 1

Topic: Costing Techniques
Series: MAY 2024

QT – May 2017 – L1 – Q3b – Elements of Calculus

Use integration to calculate total cost from a marginal cost function with a given fixed cost.

Question

At the Zee manufacturing company, the marginal cost for producing $x$ gears, measured in hundreds, is:

If the fixed cost (the cost of producing zero items) is GH¢3000:

Required:

Determine the total cost for manufacturing 5000 gears.
(11 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fixed Cost, Integration, Marginal Cost, Total Cost
Level: Level 1

Topic: Elements of Calculus
Series: MAY 2017

IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing

Features of a service, calculation of overhead absorption rates and production cost, addressing negative cash balances, and preparation of a flexible budget.

Question

Required: State and explain THREE (3) features of a service. (6 marks)

b) Edwin Ltd manufactures aviation components and parts to order, and the following are budgeted overheads for the year based on normal activity levels:

Department	Budgeted overhead	Labour hours
Welding	GH¢12,000	3,000
Assembly	GH¢20,000	2,000

Selling and administration overheads are 25% of factory cost.

An order for 350 units of engine parts, Job X 01, incurred the following cost:

Material cost: GH¢24,000
Labour:
- Welding: 200 hours @ GH¢5 per hour
- Assembly: 400 hours @ GH¢2 per hour
GH¢1,000 was paid for the hiring of a special x-ray machine for testing the welds.

Required: i) Calculate the overhead absorption rate for each department. (2 marks)

ii) Calculate the production cost for Job X01. (10 marks)

iii) Calculate the total cost of Job X01. (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Flexible Budget, Negative Cash Balances, Overhead Absorption Rate, Production Cost, Service Features, Total Cost
Level: Level 1

Topic: Budgeting, Marginal Costing and Absorption Costing
Series: DEC 2022

Question Tag: Total Cost

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QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance

Find the level of output at which profit is maximized using given revenue and cost functions.

MI – May 2024 – L1 – SA – Q6 – Costing Techniques

Calculates the fixed cost based on total cost and activity levels.

QT – May 2017 – L1 – Q3b – Elements of Calculus

Use integration to calculate total cost from a marginal cost function with a given fixed cost.

IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing

Features of a service, calculation of overhead absorption rates and production cost, addressing negative cash balances, and preparation of a flexible budget.

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance

Find the level of output at which profit is maximized using given revenue and cost functions.

MI – May 2024 – L1 – SA – Q6 – Costing Techniques

Calculates the fixed cost based on total cost and activity levels.

QT – May 2017 – L1 – Q3b – Elements of Calculus

Use integration to calculate total cost from a marginal cost function with a given fixed cost.

IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing

Features of a service, calculation of overhead absorption rates and production cost, addressing negative cash balances, and preparation of a flexible budget.

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QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

You're reporting an error for "QTB – May 2016 – L1 – SB – Q5a – Mathematics"

QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance

Find the level of output at which profit is maximized using given revenue and cost functions.

You're reporting an error for "QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance"

MI – May 2024 – L1 – SA – Q6 – Costing Techniques

Calculates the fixed cost based on total cost and activity levels.

You're reporting an error for "MI – May 2024 – L1 – SA – Q6 – Costing Techniques"

QT – May 2017 – L1 – Q3b – Elements of Calculus

Use integration to calculate total cost from a marginal cost function with a given fixed cost.

You're reporting an error for "QT – May 2017 – L1 – Q3b – Elements of Calculus"

IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing

Features of a service, calculation of overhead absorption rates and production cost, addressing negative cash balances, and preparation of a flexible budget.

You're reporting an error for "IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing"

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

You're reporting an error for "QTB – May 2016 – L1 – SB – Q5a – Mathematics"

QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance

Find the level of output at which profit is maximized using given revenue and cost functions.

You're reporting an error for "QTB – Nov 2015 – L1 – SB – Q2c – Mathematics of Business Finance"

MI – May 2024 – L1 – SA – Q6 – Costing Techniques

Calculates the fixed cost based on total cost and activity levels.

You're reporting an error for "MI – May 2024 – L1 – SA – Q6 – Costing Techniques"

QT – May 2017 – L1 – Q3b – Elements of Calculus

Use integration to calculate total cost from a marginal cost function with a given fixed cost.

You're reporting an error for "QT – May 2017 – L1 – Q3b – Elements of Calculus"

IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing

Features of a service, calculation of overhead absorption rates and production cost, addressing negative cash balances, and preparation of a flexible budget.

You're reporting an error for "IMAC – DEC 2022 – L1 – Q1 – Budgeting | Marginal Costing and Absorption Costing"

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