Unit Cost Calculation
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Demonstrates the unit cost calculation and how to identify a unit cost problem. Unit Cost = Total Cost / Total Units
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Unit Cost Calculation
- 1. Unit Cost Calculation Definition ● Total expense to produce 1 unit of goods ● Problems give cost value for multiple units ○ Unit types come in forms such as pounds, kilograms, grams, ounces, liters, etc. ● We need to find the cost per 1 unit type 1
- 2. Unit Cost Example ● A 5 pound bag of coffee costs $20 ● What is the unit cost for each bag of coffee? ● Unit Cost = Total Cost / Total Units ● Unit Cost = $20 / 5 pounds ● Unit Cost = $4 per pound 2
- 3. Fundamental Rule of Counting Calculator https://www.mathcelebrity.com/calculator.php 1. 3 pound bag for 11.25 2. 4 ounce jug for $30 3