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2 years ago

What is paulie's opportunity cost of producing one cup of ice cream (round to two decimal places)?

Business

1 answer:

balandron [24]2 years ago

6 0

Paulie's opportunity cost of producing one cup of ice cream is 8.5 t-shirts.

<h3>What is the opportunity cost?</h3>

The potential benefits that a person, investor, or business forgo while choosing between two possibilities are known as opportunity costs. Opportunity costs can be easily disregarded since they are by nature invisible. Understanding the potential opportunities missed when a business or individual chooses one investment over another is necessary for making wiser decisions.

To accurately calculate opportunity costs, it is necessary to balance the benefits and drawbacks of each option.

Opportunity costs have a value that can assist individuals and organizations in making more profitable choices.

Here, the opportunity cost for Paulie for ice cream will be calculated by dividing 17 by 2 Thi will be:

= 17 / 2

= 8.5 t-shirts

Therefore Paulie's opportunity cost of producing one cup of ice cream is 8.5 t-shirts

Learn more about opportunity cost on:

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Below are transactions for Wolverine Company during 2021.

Nookie1986 [14]

Answer:

Wolverine Company

Adjusting Journal Entries:

1. Debit Deferred Revenue $2,000

Credit Rent Revenue $2,000

To record rent revenue for December.

2. Debit Insurance Expense $6,600

Credit Prepaid Insurance $6,600

To record the insurance expense for the year.

3. Debit Salaries Expense $3,000

Credit Salaries Payable $3,000

To record the unpaid salaries expense.

4. Debit Interest Expense $250

Credit Interest Payable $250

To accrue interest expense for 2 months.

5. Debit Supplies Expense $3,900

Credit Supplies $3,900

To record the supplies used during the year.

Explanation:

a) Data and Calculations:

1. Rent Revenue = $2,000 ($4,000/2)

2. Insurance Expense = $6,600 ($13,200*6/12)

3. Salaries Expense $3,000 and Salaries Payable $3,000

4. Interest Expense = $250 ($15,000 * 10% * 2/12)

5. Office Supplies:

Beginning balance $1,000

Purchases 3,400

Ending balance 500

Supplies Expense $3,900

b) Adjusting journal entries are made in order to allocate revenue and expenses to the period in which they are earned or incurred. This agrees with the accrual concept and the matching principle of generally accepted accounting principles, which require that revenue and expenses are recognized in the period they occur instead of when cash is exchanged.

7 0

3 years ago

On January 1, 2013 Vick Company purchased a trademark for $400,000, which had an estimated useful life of 16 years. In January 2

antoniya [11.8K]

Answer:

$30,000

Explanation:

Usually, patents do not have a salvage value. If the useful life is 16 years, the amortization rate will be 1/16 x 100

=0.0625 x 100

=6.25%

Before January 2017, the trademark had been amortized for four years ( 2013, 2014, 2015, and 2016.)

Amortization per year = 6.25% x $400,000

=0.0625 x $400,000

=$25,000 per year: Four year amortization would be

=$25,000 x 4

=$100,000

The Book value as of January 2017 will be

=$400,000 -$100,000

=$300,000

add legal fee

=$300,000 + $60,000

=$360,000

remaining useful life = 16 -4 years = 12 years.

new depreciation rate = 1/12 x 100

=0.08333

Depreciation amount for 2017

= 0.08333 x $360,000

=$30,000

5 0

3 years ago

Galena is a new agent for a financial services company. She decides to join the local chamber of commerce, the local association

Angelina_Jolie [31]

The answer is networking, if there’s more to it then it’s networking to generate leads.

8 0

3 years ago

Tanesha sells homemade candles over the Internet. Her annual revenue is $64,000 per year, the explicit costs of her business are

Alisiya [41]

Answer:

The answer is $47,000

Explanation:

Accounting profit profit doesn't consider opportunity cost. So the value for opportunity cost will be left out. It is Economic profit that considers opportunity cost.

Accounting profit = revenue - cost(explicit cost which is all cost involved in directly running the business e.g cost of sales, electricity cost, wage etc.)

Revenue = $64,000

Explicit cost = $17,000

Therefore, Accounting profit is

$64,000 - $17,000

=$47,000

8 0

3 years ago

Help me answer the questions below..

kiruha [24]

Answer:

Florida's natural is best priced per ounce

The next part is what you would prefer. I like me some Tropicana. Mainly because it's easy to come by. The price is fair, and the brand is pretty good.

5 0

3 years ago

Read 2 more answers