Congratulations! You have just been promoted to a new position at the Tootsie Roll Company. In your new position, you have been asked by the accounting department to provide them with some cost data. The basis for your report is a table that was begun by your predecessor. Your task is to fill in the missing values in the table below:

\begin{array}{|c|c|c|c|c|c|c|c|}\hline 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 \\\hline \begin{array}{c}\text { Output } \\\text { (bags) }\end{array} & \mathrm{FC} & \mathrm{VC} & \begin{array}{c}\mathrm{TC} \\\text { (FC+VC) }\end{array} & \mathrm{MC} & \begin{array}{c}\text { AFC } \\(\mathrm{FC} / \mathrm{Q})\end{array} & \begin{array}{c}\text { AVC } \\(\mathrm{VC} / \mathrm{Q})\end{array} & \begin{array}{c}\text { ATC } \\\text { (TC/Q) }\end{array} \\\hline 1 & \$ 50 & \$ 86 & & & & & \\\hline 2 & 50 & 96 & & & & & \\\hline 3 & 50 & 100 & & & & & \\\hline 4 & 50 & 106 & & & & & \\\hline 5 & 50 & 120 & & & & & \\\hline 6 & 50 & 147 & & & & & \\\hline 7 & 50 & 182 & & & & & \\\hline 8 & 50 & 230 & & & & & \\\hline 9 & 50 & 290 & & & & & \\\hline 10 & 50 & 360 & & & & & \\\hline 11 & 50 & 440 & & & & & \\\hline\end{array}

What Are the Formulas for the Following Cost Concepts: Average

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Correct Answer:VerifiedAverage total cost is total cost divided...View AnswerUnlock this answer nowGet Access to more Verified Answers free of chargeView Full Answer For Free

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Average total cost is total cost divided...
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