2. A manufacturing firm which manufactures office furniture finds that it has the following variable costs in dollars.
Desks Chairs Tables Cabinets
[50 20 15 25]
[30 15 12 15]
[15 15 8 20]
The given data represents the variable costs (in dollars) for manufacturing desks, chairs, tables, and cabinets in a manufacturing firm. The costs are arranged in a matrix where each row represents a different product and each column represents a different cost category.
For example:
- The cost of manufacturing one desk is $50.
- The cost of manufacturing one chair is $20.
- The cost of manufacturing one table is $15.
- The cost of manufacturing one cabinet is $25.
Similarly, for the second row:
- The cost of manufacturing one desk is $30.
- The cost of manufacturing one chair is $15.
- The cost of manufacturing one table is $12.
- The cost of manufacturing one cabinet is $15.
And for the third row:
- The cost of manufacturing one desk is $15.
- The cost of manufacturing one chair is $15.
- The cost of manufacturing one table is $8.
- The cost of manufacturing one cabinet is $20.
These variable costs help the manufacturing firm calculate its total production costs for each product.