Improved Access (IA), a local charity devoted to helping inner city residents, has opened a downtown, drop-in medical clinic. The space rents for $3,500 a month (including utilities), and equipment leases cost $45,000 per year. IA has hired two nurse practitioners at $7,200 a month each, and one receptionist, whose monthly wage is $3,300. Benefit costs for all staff are $36,600 per year. Office costs, including telephone rentals are $1,500 per month. IA staff members are paid on salary, which is not dependent upon the volume of patients seen. Clinic supplies are $40 per patient, and the clinic sees 975 patients a month.
Use the above information to calculate the following monthly costs for IA's clinic:
- Total Fixed Cost (TFC):
- Total Variable Cost (TVC):
- Total Cost (TC):
- Average Fixed Cost (AFC):
- Average Variable Cost (AVC):
- Average Total Cost (ATC):