Posted: 4/7/2011 12:24:05 PM EDT
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I'm attempting to figure out the total variable costs for a crop selection.
I know that I need to use inputs*price per unit*total acres. I'm given a table of information with the selling price, yield per acre, quantity of input used, and input price per unit. What is confusing to me is that it doesn't specify if the quantity of input used is per unit or what? If that is the case, do I need to do the price of the input*quantity of the input*total acres to get my total variable costs? |
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Quoted:
I'm attempting to figure out the total variable costs for a crop selection. I know that I need to use inputs*price per unit*total acres. I'm given a table of information with the selling price, yield per acre, quantity of input used, and input price per unit. What is confusing to me is that it doesn't specify if the quantity of input used is per unit or what? If that is the case, do I need to do the price of the input*quantity of the input*total acres to get my total variable costs? price per unit times acres will give you total cost. are you given fixed cost? total cost minus fixed cost will give you variable cost. variable cost times number of units is total variable cost. post the chart and i can most likely help ya fill in the blanks. |