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28 June, 08:02

Bret Percy owns an art gallery and accepts paintings and sculpture on consignment. He has limited costs and is cautious about accepting artists. When he accepts one, he arranges for an opening show with an average cost of $300. The total cost of running the gallery, including rent, furniture and fixtures, utilities, and a part-time assistant, amounts to $60,000 per year. Using the total cost formula, what is the total cost for Bret in a year with 8 opening?

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  1. 28 June, 09:20
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    total cost for Bret in a year with 8 opening is $62400

    Explanation:

    given data

    average cost = $300

    total cost = $60000 per year

    to find out

    total cost for Bret in a year with 8 opening

    solution

    we know here no of opening is 8

    so variable cost will be

    variable cost = 8 * 300

    variable cost = $2400

    so

    total cost for Bret in a year will be

    total cost = variable cost + fixed cost

    total cost = 2400 + 60000

    total cost = $62400

    so total cost for Bret in a year with 8 opening is $62400
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