Answer:
($500,000)
Explanation:
Economic profit = revenue - explicit costs - implicit costs (opportunity cost)
The revenue is = $3.00 x 250,000 peaches
= $750,000
The explicit costs are = land cost + equipment rent + salaries
= $1,000,000 + 50,000 + 140,000
= $1,190,000
The implicit costs are = interest income + earnings as a shoe salesman
= $20,000 + $40,000
= $60,000
Economic profit = $750,000 - $1,190,000 - $60,000
= ($500,000)
Thus, the farmers' total economic profit is actually a total economic loss of $500,000
In the given case the human resource manager will be considered frictionally unemployed. Thus the correct answer is B.
<h3>What is unemployment?</h3>
Unemployment is the situation in which an individual is unable to find any job or occupation to meet the financial needs of life after having all the required talents and qualifications.
Frictionally unemployment is a situation when an individual is relocating to another job from one job. In the given situation the manager is not terminated.
The human resource manager resigned from the job due to obligations from family. This shows that she has the skills and talents to pursue and join another job. The period in which she is searching for a job is considered frictional unemployment.
Learn more about unemployment, here:
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Answer:
Depreciation Expense, Credit, Accumulated Depreciation.
Answer:
1. $2.50
2. $8,855.00
Explanation:
1. The computation of the company's predetermined overhead rate is shown below:-
1. Predetermined Application rate = Manufacturing overhead costs ÷ Machine hours
= $215,000 ÷ 86,000
= $2.50
2. The computation of the amount of underapplied or overapplied overhead for the year is shown below:-
Actual application = Manufacturing overhead costs ÷ Machine hours
= $210,000 ÷ 80,500
= 2.61
Now the under absrobed is
= 2.61 - 2.50
= 0.11
Now the under overhead is
= 80,500 × 0.11
= $8,855.00