Use the following information about the calendar-year cash flows of Park Company to prepare a statement of cash flows (direct method) and a schedule of noncash investing and financing activities.
Definitions:
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the total quantity of output produced, representing the per-unit cost of production.
Average Fixed Cost
The fixed costs of production divided by the quantity of output produced. This decreases as production increases.
Total Variable Costs
Expenses that change in proportion to the activity of a business such as materials, labor, and utilities, which vary with the level of output.
Average Fixed Cost
Production's fixed expenses (unchanged by the amount of production) split by the quantity of product made.
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