The answer is right, if not are there choices
Answer:
The explicit cost of flight includes cost of fuel, maintenance cost, payment to pilot.
Explanation:
The explicit costs are the direct costs incurred during the process of production or business. Here, the payments made to the pilot will be a variable cost, the cost of fuel, etc will be explicit cost.
The marginal explicit cost is the increase in the explicit cost with an additional output. The incremental cost of flight correctly determines the marginal explicit cost.
Opportunity cost is the cost of sacrificing the alternative. Here, the marginal opportunity cost will be the revenue that the firm would have earned by renting the flight to other firms or individuals.
Answer:
0.0075 rugs per dollar
Explanation:
(b)
Total labor cost:
= 520 hours × $15 per hour
= $7,800
Total solvent cost:
= 100 gallons × $5 per gallon
= $500
Total machine rental cost:
= 22 days × $75 per day
= $1,650
Multi-factor productivity:
= Number of rugs ÷ (Total labor cost + Total solvent cost + Total machine rental cost)
= 75 ÷ ($7,800 + $500 + $1,650)
= 75 ÷ $9,950
= 0.0075 rugs per dollar
Answer:
Date Account Dr. Cr.
Dec 30 Wages Expense 4,000
Wages Payable 4,000
Explanation:
Employee worked the whole week which ended on Friday, December 30. The adjusting entry will require to record the accrued expense at end of the period. As the last day of period is Saturday, December 31 and he will be paid on Monday January 2. The accrual accounting requires to record an expense at the end of the year if it is incurred even if it is not paid yet.
Payroll expense = $800 x 5 days = $4,000
