1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sladkih [1.3K]
3 years ago
12

Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a p

ersonal trainer. Pat makes $50,000 in total annual revenue. Pat's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. Pat's accounting profit is _______, and Pat's economic profit is _______.
a) $50,000; $15,000
b) $34,000; -$1,000
c) $34,000; $15,000
d) $15,000; -$1,000
Business
1 answer:
Svetlanka [38]3 years ago
4 0

Answer:

B. $34,000; -$1,000

Explanation:

Accounting profit equals total revenue minus explicit costs. Here,

$50,000 - $12,000 - $1,000 - $3,000 = $34,000.

Economic profit equals total revenue minus the sum of both explicit and implicit costs. Here,

$50,000 - $12,000 - $1,000 - $3,000 - $35,000 = -$1,000

You might be interested in
Moyer Corporation is a specialty component manufacturer with idle capacity. Management would like to use its extra capacity to g
ludmilkaskok [199]

Answer:

$174,215

Explanation:

2,300 units of product

will require: 9 units of material F58

9 x 2,300 = 20,700 units of F58

The relevant cost will be the market price as it will be replenished and used in the future.

20,700 x $4.65 = $96,255‬

it will also require 7 units of material D66

2,300 x 7 = 16,100 units of D66

The minimum price for this will be the diposal value as currently aren't used and generate an inventory cost for the firm.

currently in stock 15,700 at $4.80 = $ 75,360

The difference will need to be purchased thus, market price.

purhcase of 400 units at $6.50    = $    2,600

Total cost:                                          $  77,960

Total cost of materials:

77,960 + 96,255 = 174,215

5 0
3 years ago
In the management section of the proposal the contractor should define the that will be performed and provide a of what each maj
SVETLANKA909090 [29]

Answer:

Description of the major tasks.

Deliverables.

Project schedule.

Related experience.

Project organization.

Equipments and facilities.

Explanation:

•Description of the major tasks explains the specific job duties, these duties are the major reasons for the project.

•Deliverables talks about the ability to quantify the project and what will be delivered when the work is completed.

•Project schedule: What needs to be done and the duration or time frame for which the project will be completed. It is the total work required for the project to be promptly delivered.

•Related experience : Any past job experience related to the project, a track record of successfully completed projects as it relates to the present project.

•Project organization: Structures put in place to facilitate supervision and implementation of every required project activity.

•Equipment and facilities: Items needed for the project to be completed.

4 0
3 years ago
Which of the following saving or investment options pays interest?
bezimeni [28]

Answer:

hi...my self tanvi new in brainy can get some help from you plz...to know the people...

6 0
3 years ago
Sue’s Jewelry sold 20 necklaces for $25 each to a credit customer. The invoice included a 6% sales tax and payment terms of 2/10
tiny-mole [99]

I took the test. The answer is A. Accounts Receivable for $530.

Brainliest please?

4 0
3 years ago
Explain the differences between a partnership and a corporation
Radda [10]
A corporation is an independent legal entity owned by shareholders, in which the shareholders decide on how the company is run and who manages it. A partnership is a business in which two or more individuals share ownership.
8 0
3 years ago
Other questions:
  • Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Bet
    6·1 answer
  • Multiple Choice Question 115 Sunland Company sells MP3 players for $50 each. Variable costs are $40 per unit, and fixed costs to
    5·1 answer
  • Emma's Electronics Incorporated has total assets of ​$63 million and total debt of ​$39 million. The company also has operating
    9·1 answer
  • Suppose the tax rate on the first​ $10,000 income is 0​ percent; 10 percent on the next​ $20,000; 20 percent on the next​ $20,00
    8·1 answer
  • Which of the following is true regarding GASB's definition of the financial reporting entity?
    6·1 answer
  • Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. Microeconomics
    13·1 answer
  • The purpose of the ________ of performance appraisal is to keep managers from being excessively lenient and having a disproporti
    11·1 answer
  • The price elasticity of demand for senior citizens purchasing coffee from McDonald's is −5, while non-senior citizens have a pri
    12·1 answer
  • What is GDP of a country
    13·1 answer
  • Which term describes assets generated through operations that have been reinvested into the business?.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!