Are you able to give the clearer table that my previous on Calculate Total Costs at Different Output Levels? If yes then here is the data below. Clearly made table and step by step

Question

• Produced units: 0, 50, 100, 150, 200
• Fixed Costs: $1000
• Variable cost per widget: $5

Answer 1

Certainly! To calculate the total costs at different output levels, we need to consider both fixed costs and variable costs. Here’s how we can structure the data step by step:

Step 1: Understand the Cost Components

1. Fixed Costs (FC): These remain the same regardless of the level of production. In this case, Fixed Costs = $1000.
2. Variable Cost per Unit (VC): This cost changes depending on how many units are produced. Here, the Variable Cost per Widget = $5.

Step 2: Calculate Total Variable Costs (TVC)

To calculate the Total Variable Costs for each level of output, we use the formula: \[ \text{Total Variable Costs (TVC)} = \text{Variable Cost per Widget} \times \text{Produced Units} \]

Step 3: Calculate Total Costs (TC)

Total Costs can be calculated with the formula: \[ \text{Total Costs (TC)} = \text{Fixed Costs (FC)} + \text{Total Variable Costs (TVC)} \]

Step 4: Create the Table

Now we can lay out the data into a clear table:

| Produced Units | Fixed Costs (FC) | Variable Cost (VC) | Total Variable Costs (TVC) | Total Costs (TC) | |----------------|-------------------|---------------------|----------------------------|-------------------| | 0 | $1000 | $5 | $5 * 0 = $0 | $1000 + $0 = $1000| | 50 | $1000 | $5 | $5 * 50 = $250 | $1000 + $250 = $1250| | 100 | $1000 | $5 | $5 * 100 = $500 | $1000 + $500 = $1500| | 150 | $1000 | $5 | $5 * 150 = $750 | $1000 + $750 = $1750| | 200 | $1000 | $5 | $5 * 200 = $1000 | $1000 + $1000 = $2000|

Final Table

Here’s the final summarized table:

| Produced Units | Total Costs (TC) | |----------------|-------------------| | 0 | $1000 | | 50 | $1250 | | 100 | $1500 | | 150 | $1750 | | 200 | $2000 |

Summary

• As production increases, total costs increase due to the additional variable costs associated with producing more units while fixed costs remain constant.
• At 0 produced units, the total cost is only the fixed cost. As more units are produced, the total cost increases at a linear rate, driven by the variable cost per unit.

This table and the calculations give a clear overview of the relationship between output levels and total costs.