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3 years ago

For each of the following, describe the opportunity cost when you decide to do each activity.

Business

1 answer:

Lina20 [59]3 years ago

5 0

Answer:

The opportunity cost of going to the beach is lost time to study for the exam

The opportunity cost of going to college is the lost earnings from getting a paying job after high school

The opportunity cost of eating breakfast is arriving late to school

The opportunity cost of going to the movies is not completing your portion of the group project

The opportunity cost of going to a party at a friend's house on a school night is the inability to wake up early the next morning

Explanation:

An opportunity cost is the lost benefit attached to choosing one option over another. The scenarios given require the consequences which occur as a result of not choosing one option of the two alternatives presented. In each of the given cases, the foregone benefit varies depending on the option selected.

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Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 79,000 Direct labor $ 41,0

ICE Princess25 [194]

The question is incomplete. Here is the complete question.

Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 79,000 Direct labor $ 41,000 Manufacturing overhead $ 19,000 Selling expenses $ 22,000 Administrative expenses $ 34,000 Required:

1) What is the total amount of product costs?

2) What is the total amount of period costs?

3) What is the total amount of conversion costs?

4) What is the total amount of prime costs?

Answer:

(1) product cost = $139,000

(2) period cost = $56,000

(3) conversion cost = $60,000

(4) prime cost = $120,000

Explanation:

(1) The total product costs can be calculated as follows.

= Direct material + direct labor + manufacturing overhead

= $79,000 + $41,000 + $19,000

= $139,000

(2) The period cost can be calculated as follows

= selling expenses + administrative expenses

= $22,000 + $34,000

= $56,000

(3) The conversion cost can be calculated as follows

= direct labor + manufacturing overhead

= $41,000 + $19,000

= $60,000

(D) The prime cost can be calculated as follows

= Direct material + direct labor

= $79,000 + $41,000

= $120,000

3 0

2 years ago

When using the ice point method for calibrating thermometers you’ll need to place the thermometer in the ice water and adjust th

madam [21]

<span>When using the ice-point method of calibration, you should immerse the thermometer in ice water for at least 5 minutes, which allows the reading to stabilize. After this amount of time has elapsed, the thermometer should be adjusted to read 32 degrees F (0 degrees C), if it was not already displaying this value.</span>

7 0

3 years ago

after you analyzed demand, you took steps to make sure your business made sense financially. How will thinking on the margin hel

svetlana [45]

Answer:

Thinking on the margin will ensure that each pair of inserts produced is turning a profit. Once a profit is no longer being made on a pair of inserts, production must be cut back. Understanding these margins will also help me stay competitive in a market that is open to other producers. If additional producers enter the market, I know that I have the ability to lower prices or offer discounts while still maximizing profits.

Explanation:

4 0

2 years ago

4-1) Consider any organization you are aware of from work, study, or the media. How do they manage people? Do people in those or

kherson [118]

There are different organizations with different ways of management of resources and personnel. The answers to the questions is below;

In the organization that I had worked for, I can say they have a good management. They are very direct in their management, they make you understand your duties and they make sure all follow the process outline. There are often consequences if one fails to perform his or her duties but their management was great and it lead to the growth of the organization.

People in those organizations feel important because the organization value them, value their input and personal wellbeing as well as their growth.

I worked in the accounting/ sales management unit for some months and I can say it was a good experience for me as I got to known more about using good software that makes it easy to work. I did a get job from the onset of my work. The Managing director was happy and had to increase my salary in the first month.

I can say my experience was more of educative as I learnt a whole lot of things. The Experience of the others was a little different from mine but they both believe that they did grow intellectually and morally.

Learn more about organization management from

brainly.com/question/25703249

5 0

2 years ago

On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.7 million cash to expand operations. The l

Elena-2011 [213]

Answer: Please see answers in explanation ncolumn

Explanation:

Journal entry for Trico Technologies

1) To record issuance of notes

Date General Journal Debit Credit

Aug 1st 2021 Cash $19,700,000

Notes Payable $19,700,000

Adjustment for Interest

= Principal x rate x time ( from August to December 31st)

$19,700,000 X 9% X 5/12=$738,750

To record accrual of interest at Year end.

Date General Journal Debit Credit

Dec 31st,2021 Interest expense $738,750

Interest payable $738,750

3. Record Payment of Note at maturity

Date General Journal Debit Credit

Jan 31st,2022 Notes payable $19,700,000

Interest Expense $147,750

Interest payable $738,750

Cash $20,586,500

Interest Expense =Principal x rate x time ( the remaining one month

$19,700,000 X 9% X 1/12=$147,750

8 0

2 years ago