Answer:
b. $65,000
Explanation:
Particulars Amount
Revenues
Service Revenue $390,000
Less: Sales Return and allowance $10,000
Less: Sales Discount <u>$5,000 </u>
Net Sales Revenue $375,000
Less: Cost of Goods Sold <u>$200,000</u>
Gross Profit $175,000
Less: Operating Expenses <u>$110,000</u>
Operating Income <u>$65,000</u>
Thus, income from operation is $65,000
Answer:
Theory
Explanation:
A Theory is a compilation of laws, experiments, and facts that forms rules that explain an event. This means that a theory can specify how variables will affect this event and in which conditions it happens.
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Answer: D. Since Hiro’s economic profit is negative, he would be better off if he didn’t operate the consulting business and taught economics instead.
Explanation:
Economic Cost is calculated by taking into account all costs, both Implicit and Explicit. Implicit Costs are also known as Opportunity costs and are referred to as the income you could be earning if you were doing the alternative.
Hiro's Economic Cost can hence be calculated by,
Economic Cost = Implicit costs + Explicit Costs
= (50,000 + 100) + 57,000
= <em>$107,000</em>
Subtracting that from his Revenue per year gives,
= 100,000 - 107,000
= -<em>$7,000</em>
Hiro is experiencing an Economic Loss by operating his business and would be better off Teaching Economics at the small local college.
Answer:
Bar graph (chart).
Explanation:
A bar graph also known as a bar chart can be defined as the graphical representation of data (informations) by using vertical columns or rectangular bars. When a data set is observed, a bar chart can be used to graphically represent or record the total or overall amount of information contained therein. Generally, bar charts are used for the comparison of informations obtained from a data collection by representing each value (information) with rectangular bars respectively.
<em>Hence, data on DVD sales for three different years can best be compared by using a bar graph (chart).</em>
The bar graph has a x-axis and a y-axis used to represent the various categories of data collected. Thus, the x-axis could be used to denote the DVD sales while the y-axis is used to denote the year.
