Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? The cost of cocoa (l mark); Business rates (local taxes) (1 mark); An advertising campaign for a new chocolate bar (1 mark); The cost of electricity (paid quarterly) for running the mixing machines (1 mark); Overtime pay (l mark).

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 14SQ
icon
Related questions
Question

Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?

  • The cost of cocoa (l mark);
  • Business rates (local taxes) (1 mark);
  • An advertising campaign for a new chocolate bar (1 mark);
  • The cost of electricity (paid quarterly) for running the mixing machines (1 mark);
  • Overtime pay (l mark).
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Costs
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning