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Create formula to express the behaviour of the firm

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Reference no: EM132612212

Sunshine Valley Meat Company produces one of the best sausage products in Ontario. The following information was obtained through an analysis of the accounting records:

  1. Meat costs the company $3.25 per pound of sausage produced.
  2. Compensation of production employees is $2.25 per pound of sausage produced.
  3. Supervisory salaries total $23,000 per month.
  4. The company incurs utility costs of $9,000 per month plus $0.35 per pound of sausage produced.
  5. Insurance and property taxes average $6,400 per month.

REQUIRED:

Question 1: Classify each cost as variable, fixed, or semi-variable.

Question 2: Create formula to express the behaviour of the firm's production costs. (Use the form Y = a + bX, where X denotes the quantity of sausage produced.)

Reference no: EM132612212

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