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Snowcat [4.5K]
3 years ago
15

1) Torria wants to open a hair salon.

Business
1 answer:
AnnyKZ [126]3 years ago
4 0

Answer:

Case 1: Torria wants to open a hair salon

<u><em>a. 2 possible sources of revenue the business may have.</em></u>

As a hair salon, there are several sources of revenue as following:

+) First is the revenue from providing hair care services for customers. This is the main sources, generated by providing services such as cutting, dyeing, etc.

+) The second source is from training. Torria can open courses for people who want to learn about hair care skills.

<em><u>b. 5 possible expenses the business may have</u></em>

To establish and operate a business, Torria may face these expense:

+) First is the fee for place. Torria will have to pay regularly fee to borrow rooms/ house to place the salon.

+) Second is the initial investment in interior and facilities such as chair, bed,  mirror; the hair care products like shampoo, essential oils, etc.

+) Third is the salary Torria has to pay for the employees.

+) Fourth is the expense for advertising including: printing posters/ online advertisement, etc.

+) Last but not least is billing on electricity or water

Case 2: Mykeda wants to open an electronic store selling Apple products.

<em><u>a. Other source of revenue than selling electronics</u></em>

Other than selling electronic product, Mykeda can provide the services of repairing electronics to generate revenue. In this services, users can bring their broken phone to Mykeda's store to fix it and pay for that.

<em><u>b. 4 expenses </u></em>

4 expenses that Mykeda may have when opening a store are:

First, Mykeda has to pay for borrowing location on a street or in a mall to open the store.

In addition, there would be cost for the furniture of the store such as sofas, shelves, etc.

The third expense is on the investment to buy Apple products to resell.

And the fourth one is salary that Mykeda has to pay for salesman or other staffs in the store.

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Mabye this will help you

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3 years ago
If the Market Equilibrium Wage Rate is $105.00 and FC = $1500.00: A. The firm Shuts Down and hires no workers and loses $1500.00
BartSMP [9]

Answer: B. The firm hires 45 workers and earns a $1,200.00 Economic Profit

Explanation:

If the Market Equilibrium rate is $105 then the company should hire 45 workers as shown in the table.

If they did that, revenue would be $7,425

Expenses would be wages and fixed costs:

= Wages + fixed costs

= (45 workers * wage rate) + 1,500

= (45 * 105) + 1,500

= $6,225

Economic profit would be:

= 7,425 - 6,225

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6 0
3 years ago
The manufacturing cost of Calico Industries for three months of the year are provided below. Total Cost Production (units) April
elena55 [62]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Total Cost Production (units)

April $119,400 281,300

May 92,000 162,800

June 99,000 238,000

<u>To calculate the variable cost per unit and the total fixed cost, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (119,400 - 92,000) / (281,300 - 162,800)

Variable cost per unit= $0.231

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 119,400 - (0.231*281,300)

Fixed costs= $54,701

7 0
3 years ago
When manufacturing overhead costs are assigned to production in a process cost system, it means that
Colt1911 [192]

Answer:

<em>When manufacturing overhead costs are assigned to production in a process cost system, it means that the business uses absorption costing system.</em>

Explanation:

When manufacturing overhead costs are assigned to production in a process cost system, it means that the business uses absorption costing system.

Absorption costing system is that where units of products and inventories are valued using full cost. Full cost implies that each product would be charged for an amount of the<em> fixed production overhead </em>in addition to the variable cost.

The fixed overhead is charged using a predetermined overhead absorption rate.

8 0
3 years ago
When a company prepares financial statements using standard costing, which items are reported at standard cost
Dmitrij [34]

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

7 0
2 years ago
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