Assignment 2: LASA 1: The Costs of Production
Joseph Farms, Inc. is a small firm in the agricultural industry. They have asked you to help them complete the limited data they have gathered in an effort to enable effective decision-making. Some work can be done using MS Excel but it must be copied to an MS Word file for the final submission of this assignment. To assist Joseph Farms, Inc., respond to the following:
(Assignment continues below Table-1.)
Table-1: Joseph Farms, Inc., Cost and Revenue Data
|Column 1||Column 2||Column 3||Column 4||Column 5||Column 6||Column 7||Column 8||Column 9||Column 10||Column 11|
|Price per unit||Total Fixed Cost||Total Variable Cost||Total Cost||Average Fixed Cost||Average Variable Cost||Average Total Cost||Marginal
|Marginal Revenue||Total Revenue|
Table-2: Joseph Farms, Inc., Revenue/Profit/Loss Data
|Price||Total Revenue||Total Costs from Table 1||Profit or Loss|
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