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Ad libitum [116K]
3 years ago
10

Suppose you learn that your friend is serving flank steak at her​ party; all-you-can eat and at no charge. Flank steak is your f

avorite food. Your opportunity cost of going to the concert is now
a.higher
b.lower
c.than you had previously thought.
Business
1 answer:
Deffense [45]3 years ago
7 0

Answer:

a.higher

Explanation:

Note: <u>The answer provided herein is based upon the fact that option (c) does not mention higher or lower. In the given case, </u><u>opportunity cost would be higher than previously thought of </u><u>but since the word </u><u>"higher"</u><u> is not mentioned in option (c), it has not been considered. </u>

Opportunity cost refers to benefits foregone of a non chosen alternative when another alternative is chosen from available set of alternatives.

Initially without knowledge of what was to be served at the party, an opportunity cost existed which was the option foregone of attending the party as other option of going to the concert had been decided in the mind.

The explicit cost i.e the cost in monetary terms remained the same as previous in the given scenario. But now, the implicit cost in the form of opportunity cost gets affected.

After knowing that an individual's favorite food item is served free of cost at the party, one had decided to forego, one would be at least tempted to reconsider his decision for once.

This implies that the opportunity cost has increased from the previous level.

Hence, the correct option is (a) higher.

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"I’m not sure we should lay out $250,000 for that automated welding machine," said Jim Alder, president of the Superior Equipmen
NikAS [45]

Answer:

1.

The annual net cost savings promised by the automated welding machine

Annual Costs savings in replacing 6 welders $108,000

Reduced Material costs $6,500

Total annual Costs savings = $114,500

Note there is a $3,000 annual maintenance cost that will then be taken off this savings amount to make up the Annual Net cash inflow of $111,500

2

A. The Net Present value is $72,227. Kindly refer to the attached document for the clear presentation

B. The project should be accepted because it delivers a positive NPV. Meaning the net benefit outweighs the cost of owning the new Assets.

3.

The Discounted net Cash flow for the 6 years (aside the initial outlay) is $402,227.

Annually this comes to $67,038.

The benefit the business gets in the switch to the automatic welders is approximately $67,038 annually.

7 0
3 years ago
Consumers are limited in the total utility that they can gain from buying products because they have limited
Cloud [144]

Answer: income i think

Explanation:

6 0
3 years ago
During 2013, its first year of operations, Neko's Bakery had revenues of $60,000 and expenses of $33,000. The business paid divi
loris [4]

Answer: the correct answer is $7,000

Explanation:

Revenues          $60,000

Expenses         ($33, 000)

Paid Dividens   ($20,000)

Equity                   $7,000   ($60,000-$33,000-$20,000)

4 0
3 years ago
Which one of the following should NOT be included in the project analysis of the manufacturing of a new product? A) Change in ne
trasher [3.6K]

Answer:

Option(c) is the correct answer to the given question

Explanation:

The project analysis means finding the cost of project ,project is working properly as the customer need and other factor are used to check the manufacturing of new product.

Following are features of project analysis in the new product

  • Improve in net working capital of associated with the release of a new program.
  • The capital expenditures of a new project which work in the favour of a company's business working capital.
  • The variations in the working capital of a company with or without a specific project.

All the other option are related to project analysis of the manufacturing of a new product that's why they are incorrect according to the question .

3 0
3 years ago
Read 2 more answers
Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just compl
larisa [96]

Answer:

Dr Work in Process 574,000

Dr Manufacturing Overhead 163,000

Cr Wages Payable 737,000

Explanation:

Preparation of the journal entry to record the direct and indirect labor costs incurred during the year

Based on the information given the appropriate journal entry to record the direct and indirect labor costs incurred during the year will be :

Dr Work in Process 574,000

Dr Manufacturing Overhead 163,000

Cr Wages Payable 737,000

(574,000+163,000)

(Being to record direct and indirect labor costs incurred )

3 0
3 years ago
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