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Total Cost Calculator

LAST UPDATE: August 27th, 2018

Calculator

Total Cost Calculator (from total)

Total Cost Calculator (from average)

What is total cost?

Total cost is a microeconomics term that is the total of all costs to the firm.

Total cost includes fixed costs (costs that occur regardless of the quantity produced) and variable costs (cost incurred with each item produced). It can also be calculated by multiplying the average cost per unit by the number of units produced.

Formula

From Total – Total Cost = Total Fixed Costs + Total Variable Costs

From Average – Total Cost = Average Cost x Quantity

Example

Total Cost (from Total) – total fixed costs are $200,000 and total variable costs are $300,000.

Total Cost = $200,000 + $300,000 = $500,000

Total Cost (from Average) – average cost is $35 per unit and 400 units are produced.

Total Cost (from Average) = $35 x 400 = $14,000

Sources and more resources

  • WikipediaTotal Cost – Wikipedia’s entry on total cost. It breaks down different ways that cost is calculated.