Answer:
The correct answer is: inputs such as wages and salaries to its employees, whereas implicit costs are non-expenditure costs that occur through the use of self owned resources such as foregone income.
Explanation:
The implicit costs.
Also known as opportunity costs have to do with alternative earning options, or money that we no longer receive when performing certain commercial actions.
A company incurs implicit costs when it waives an alternative action but does not make a payment. Implicit costs of a company are:
- The use of the company's own capital (money or assets).
- The use of money, assets and financial resources of the owner.
Explicit costs. They are what we usually see and are easy to identify. Even if they can present some complication for their determination, it is possible to identify them thanks to the business operation itself.
Explicit costs are paid with money. In a food company the costs recorded by the company accountant are the explicit costs, for which the company disburses cash, such as wages and salaries, truck maintenance, tolls, service payments, and so on.
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Each stroller requires eight screws. For September, Beloved Baby Company will begin September with 380 screws in its beginning inventory, and budgets ending inventory to be 210. Beloved Baby Company has budgeted stroller sales of 530 strollers, while 570 strollers are scheduled to be produced
Production= 570*8= 4560
Ending inventory= 210
Beginning inventory= 380 (-)
Total= 4,390
Answer:
C) had a strong focus on the Chinese as scapegoeats for the economic woes of California workers.
Explanation:
During the 19th and 20th century, the so-called <em>Coolies</em> , Asian people who were brought from China to work in America, made economical situation even worse in the USA, for many Americans lost their job for these people for a cheaper salary.
Answer:
The elasticity of supply for hot cocoa is 1.43.
(D) Supply in the market for coffee is less elastic than supply in the market for hot cocoa
Explanation:
Using the midpoint formula,
Elasticity of supply for hot cocoa = (change in quantity supplied/average quantity supplied) ÷ (change in price/average price)
change in quantity supplied = 101 - 31 = 70
average quantity supplied = (101+31)/2 = 66
70/66 = 1.06
change in price = 9.75 - 4.5 = 5.25
average price = (9.75+4.5)/2 = 7.125
5.25/7.125 = 0.74
Elasticity of supply for hot cocoa = 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic because the elasticity of supply is greater than 1.
Elasticity of supply for coffee = (73 - 31)/(73+31)/2 ÷ 0.74 = 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. The supply for coffee is elastic because the elasticity of supply is greater than 1.
However, supply in the market for coffee is less elastic than supply in the market for hot cocoa because the elasticity of supply for coffee is less than that of hot coffee.
Answer: $3,150,000
Explanation:
Total cost of production will be the total sum of the material costs, labor costs and indirect costs.
Indirect Costs
It was estimated that 12,000 machine hours would be used at a cost of $60 million.
Indirect cost per machine hour is;
= 60,000,000/12,000
= $5,000 per hour
With 200 machine hours, indirect cost is;
= 200 * 5,000
= $1,000,000
Total cost of production = 1,250,000 + 900,000 + 1,000,000
= $3,150,000
