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Artyom0805 [142]
3 years ago
9

A business owner makes 50 items by hand in 40 hours. She could have earned $20 an hour working for someone else. Her total expli

cit costs are $200. If each item she makes sells for $15, her economic profit equals what?
Business
1 answer:
SOVA2 [1]3 years ago
6 0

Answer:

- $250

Explanation:

The economic profit calculation is presented below:

= Total revenues - explicit cost - implicit cost

where,  

Total revenues = Explicit revenue × implicit revenue

= $15 × 50 items

= $750

Explicit cost = $200

Implicit cost = $20 × 40 hours = $800

Now place these values in the formula above

So the value would be equal to

= $750 - $200 - $800

= - $250

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The bank is working to develop an efficient work schedule for full-time and part-time tellers. The schedule must provide for eff
Kitty [74]

Answer:

The solution is given below.

Explanation:

It is a practical, complex scheduling problem that can be easily modelled and solved as IP. Note that  part time and full time employees are paid at different rates. So, it is important that the bank operates to provide required service level (indicated by the number of tellers per hour) while  minimizing total cost due to staff salary.

We use x as full time and y as part time staff.

It would help if you construct a table as shown below to better analyze the problem before  attempting to model it. Red shows work hrs of full time staff and green is for part timers. Just follow  their work hour rules.

So, full timers have 3 options:  

(i) start at 9 – work till 1pm, take 1 hr break, then work 2 – 5 pm

(ii) start at 10 – work till 2pm, take 1 hr break, then work 3 – 6 pm

(iii) start at 11 – work till 3pm, take 1 hr break, then work 4 – 7 pm

that’s all… bank closes at 7 pm.

However, part timers don’t have 1 hr break. They work straight 4 hrs and leave. See green cells  above to understand their alternatives.

Now, decision variables should include this work hour information. Here goes their definition. You  must clearly define decision variables in exam, otherwise, the model is meaningless.

X9 = number of full time staff who start at 9 and follow the hour-related rule (no need to specify  more details; those are already undestood)

X10 = number of full time staff who start at 10 and follow the hour-related rule

X11 = number of full time staff who start at 11 and follow the hour-related rule

Y9 = number of part time staff who start at 9 and follow the hour-related rule

Y10 = number of part time staff who start at 10 and follow the hour-related rule

…. This way you define up to Y15.

You must also specify that:

Xi, Yi >=0, integers.

Objective Function:

Minimize Z = 105*(x9 + x10 + x11) + 32* (y9 + y10 + … + y 15)

You will need one “covering” constraint for each working hour. Both full and part-timers can “cover”  the duty of each hour. Look at the color-coded table (above) column-wise. The 9:00-10:00 hour can  be covered only by x9 and y9 staff; next hour by x9, x10, y9, y10 only,… and so on. So, the

constraints are: (attached with image)

8 0
2 years ago
Selected current year company information follows: Net income $ 17,753 Net sales 730,855 Total liabilities, beginning-year 101,9
Sveta_85 [38]

Answer:

6.03%

Explanation:

Calculation for the return on total assets

First step will be to find the assets at the beginning using this formula

Beginning year Assets =Beginning Total liabilities + Beginning Stockholders' equity

Let plug in the formula

Beginning year Assets=$101,932 + $216,935

Beginning year Assets=$318,867

Second step is to find the end of the year asset using this formula

End of the year assets = Ending Total liabilities + Ending Stockholders' equity

Let plug in the formula

End of the year assets=$121,201 + $148,851

End of the year assets = $270,052

Last step is to calculate for the return on total assets using this formula

Return on total assets = Net income/Average of total assets,

Let find the Total asset averages

Using this formula

Total asset averages=(Beginning year Assets+End of the year assets)/2

Let plug in the formula

Total asset averages($318,867 + $270,052)/2 Total asset averages=$588,919/2

Total asset averages= $294,459.50

Hence,

Return on total assets = Net income/Average of total assets

Return on total assets=$ 17,753/294,459.50

Return on total assets=0.0603

Return on total assets=6.03%

Therefore the return on total assets will be 6.03%

8 0
3 years ago
If one believes interests rates will move lower in the months ahead, he or she should invest in long-term, fixed-rate savings in
Elina [12.6K]

There are  interests rates in goods sold. If one believes interests rates will move lower in the months ahead, he or she should invest in long-term, fixed-rate savings investments is a false statement.

<h3>Does a higher rate of money supply lower interest rates?</h3>

Note that larger money supply often lowers market interest rates, thereby making it much lower expensive for consumers to borrow.

Investment one should choose today if you believe interest rates will go up is Short-term savings instruments. This is because by investing money in short-term savings instruments, one's money can be available to invest in any kind of  higher interest instrument in the future.

Learn more about  interests rates from

brainly.com/question/25793394

7 0
2 years ago
A static budget shows planned results at the original budgeted activity level. should not be prepared in a company. is useful in
stira [4]

Answer:

The answer about A static budget would be

Explanation:

A static budget is a type of budget that incorporates anticipated values ​​on inputs and products that are conceived before the period in question begins. When compared to the actual results that are received after the fact, the static budget figures are often very different from the actual results.

The static budget is intended to be fixed and unchanged throughout the period, regardless of fluctuations that may affect the results.

For example, under a static budget a company would establish an anticipated expense, say $ 30,000 for a marketing campaign, for the duration of the period. It is then up to the managers to adhere to that budget, regardless of how the cost of generating that campaign really stays during the period.

This type of budgeting is limited by the ability of an organization to accurately forecast what its needs are, how much it will spend to meet them and what its operating income will be during the period. Static budgets can be more effective for organizations that have highly predictable sales and costs, and for shorter periods of time.

For example, if a company sees the same costs in materials, profits, labor, advertising and production month after month to maintain its operations and there is no expectation of change, a static budget may be adequate for its needs.

5 0
2 years ago
What is a mortgage?
earnstyle [38]
The answer to your question should be B. a type of loan used to buy property hoped this helped.
5 0
3 years ago
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