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September 17, 2014

Homework Help: math

Posted by Ayensu on Tuesday, March 20, 2012 at 6:29pm.

Tema Oil Refinery ( TOR ) is the only company mandated to refine crude oil in Ghana. The company has estimated that the fixed cost would be $ 80000. Variable costs depends on the amount of crude oil refined but include the cost of labour and administrative expenses and it is estimated to be $ 30 per barrel of crude oil refined. The proposed price for a barrel of refined crude oil is $ 50. How many barrels of crude oil must be refined and sold to cover an extra cost of spare parts of $ 8000 ?

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