A formula for calculating which method would be most efficient, with factors of time, cost to produce, and units produced [closed]
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Does anyone know a formula for calculating which option would be most efficient, with factors of time it takes to produce batch of units, total cost to produce the units, and units produced?? So here goes- bear with me here lol
Option. A.
Time. 180min.
Cost. $150,000.
Units. 2,250u.
Option. B. Time. 360min. Cost. $15,000. Units. 500u.
Option. C. Time. 120min. Cost. $5,000. Units. 200u.
Option. D. Time. 30min. Cost. $1,000. Units. 75u.
Option. E. Time. 5min. Cost. $250. Units. 25u.
Option. F. Time. 30sec. Cost. $50. Units. 5u.
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What is the formula for cost?
The formula to calculate total cost is the following: TC (total cost) = TFC (total fixed cost) + TVC (total variable cost).How do you find number of units produced?
To compute the number of units manufactured, start with the number of units of work-in-process in beginning inventory (Beginning). Add the number of units of direct materials put into production (Inputs) and then subtract the number of units of work-in-process in ending inventory (Outputs).How do you find the total cost of production?
In terms of the formula needed to calculate total manufacturing cost, it's usually expressed in the following way: Total manufacturing cost = Direct materials + Direct labour + Manufacturing overhead.Production, productivity and efficiency
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
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