Answer: Accounting profit = $35000, Economic profit = $13000
Explanation:
Accounting profit = Revenue - Explicit cost
Accounting profit = Revenue - Cost of Help - Rent - Cost of materials
Accounting profit = $72000 - $12000 - $5000 - $20000
Accounting profit = $35000
Economic profit = Revenue - Explicit cost - Implicit Cost
Economic profit = Revenue - Cost of Help - Rent - Cost of materials - Renting equipment - working for competitors - talent
Economic profit = $72000 - $12000 - $5000 - $20000 - $4000 - $15000 - $3000
Economic profit = $13000
Answer:
A.
The output will rise by more than it did when the previous unit was added.
Explanation:
Answer:
70 days
Explanation:
For computing the number of days first we have to determine the credit turnover ratio which is shown below:
Credit turnover ratio is
= (Cost of Goods Sold ÷ Average accounts payable)
= ($45,021 ÷ $8,583)
= 5.245 times
Now the number of days is
= Total number of days in a year ÷ credit turnover ratio
= 365 ÷ 5.245
= 70 days
Answer:
The correct answer is letter "D": all of the above are true.
Explanation:
Variability in manufacturing represents the differences that arise naturally in every step of the production process. Most firms expect a certain level of variation measured with different methods. If the measure is under acceptable limits, then it is said that the variation is in control.
The free enterprise system can produce unfavorable effects when they reduce competition and protect inefficient competitors.Also,results are annoying when costs of legal intervention are greater than benefits for the consumers.
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