Scenario 13-6
A certain firm produces and sells staplers.Last year,it produced 7,000 staplers and sold each stapler for $6.In producing the 7,000 staplers,it incurred variable costs of $28,000 and a total cost of $45,000.
-Refer to Scenario 13-6.The firm's fixed costs amounted to

Question

Quizplus · Accepted Answer

To calculate fixed costs, we need to subtract the total variable costs from the total cost. 
Fixed cost = Total cost - Total variable cost 
Fixed cost = $45,000 - $28,000 
Fixed cost = $17,000 
Therefore, the firm's fixed costs amounted to $17,000. The correct answer is B.

Scenario 13-6 A Certain Firm Produces and Sells Staplers.Last Year,it Produced 7,000