You are planning to place an ad in a local newspaper. The size of the ad is 5 inches long by 4 columns wide. The newspaper's rate per column inch is $18. How much will the ad cost?

Cost of the product: The cost of the product is the sum of all the expenses that are incurred during the production of a specific goods. It includes the material cost, labor cost and other manufacturing overhead. The cost of the product is calculated in order to determine the required profit margin on the product.

Calculate the cost of the ad in the newspaper:

The cost of ad is calculated by multiplying the size of the ad with newspaper’s rate per column.The newspaper rate per column inch is $18 and size of the ad is 20 inches.

Cost of newspaper ad = $18 × 20 inches

= $360

Therefore, the cost of the ad is $360

Working Notes 1:

Calculate the size of the Ad:

Size of the Ad = 5 inches × 4

= 20 inches

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Answer details:

Grade: High School

Subject: Cost Accounting

Chapter: Marginal Costing

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