Calculate the Total Production Cost of 5300 Anchors

What is the total cost of producing 5300 anchors?

Answer:

The total cost of producing 5300 anchors is $302,100

Anchors Enterprises is trying to predict the cost associated with producing its anchors. At a production level of 5300 anchors, Anchors Enterprise's average cost per anchor is $57. To calculate the total cost of producing 5300 anchors, we need to multiply the average cost per anchor by the number of anchors produced.

The formula to find the total cost of production is:

Total Cost = Average Cost per Anchor x Number of Anchors Produced

Given data:

Average Cost per Anchor = $57

Number of Anchors Produced = 5300

Substitute the values into the formula:

Total Cost = $57 x 5300 = $302,100

Therefore, the total cost of producing 5300 anchors for Anchors Enterprises is $302,100.

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