Tim Marlow,the Owner of the Clock Works,wanted to Know How

question 180

Multiple Choice

Tim Marlow,the owner of The Clock Works,wanted to know how many clocks he must sell in order to cover his fixed cost at a given price.Tim knew that he had total fixed costs of $20,000 for equipment,taxes,and a bank loan.He also had a unit variable cost of $20 per clock for labor and materials.If the price Tim charges for each of his clocks is $40,what is his break-even point quantity?

• A)100 clocks
• B)334 clocks
• C)500 clocks
• D)1,000 clocks
• E)10,000 clocks

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Definitions:

Information Processing

The method by which humans or computers take in information, make sense of it, and then respond to it.

Connectionist

relates to a psychological theory which suggests that mental phenomena and processes can be described by artificial neural networks or interconnected systems of simple units.

Traditional Information Processing

Traditional Information Processing views the human mind as a system that processes information through a series of steps, similar to how a computer operates.

Serial Processing

A cognitive process where the brain analyses information in a linear, step-by-step manner, allowing for detailed and accurate analysis of each item in sequence.