Answer:
Explicit costs are the costs which requires the money to pay.
On the other hand, implicit costs refers to the benefit that is foregone by choosing some other work or doing some other activity.
Therefore,
Explicit costs are as follows:
1. Wages pays to his hired hand
2. Buys feed for his cows.
3. Gas expense that is used in truck
Implicit costs are as follows:
1. Foregone income of $27,000 from working at a dairy plant as a technician.
2. Time taken for extracting milk from all the cows.
<h2>Q1. The company's conformance with standards</h2><h2>Q2. It is illegal for an employer to continue to hire new employees while laying off other employees.</h2>
Explanation:
Question 1:
Ability to meet designed specification is called conformance. So since the HR manager wants to check if the organization is managing its bottom line, it is better to measure whether the contributions meet the expectations.
Question 2:
When the turnover is not up to the mark, then it is not recommended to hire a new one and send off the existing employee. We can increase turn over only with the existing set and on need the company can hire new people.
Answer:
entrepreneur are small scale farmers thatthey are passionate with there farm buisness
Answer:
Return on Total Assets = 10.2%
Explanation:
The Return on Total Assets (ROTA) of a company is a ratio of the measure of a company's earnings before income and taxes, relative to its total net assets. Simply put, it is the amount of money a company receives in a financial year, relative to its total assets. The formula for calculating ROTA is given as follows:
ROTA = ( EBIT) ÷ Total Assets
where:
EBIT = Earnings before income and taxes = net income = $32,750
Total Assets = $320,000
∴ ROTA = 32,750 ÷ 320,000 = 0.102
converting 0.102 to percentage, we multiply by 100
∴ ROTA = 0.102 × 100 = 10.2%
Answer:
a. 363000
Explanation:
depreciation expense for the year = accumulated depreciation 2018 - accumulated depreciation 2017 + asset's book value - asset's sales price = $1,245,000 - $900,000 + $75,000 - $57,000 = $363,000
an asset's book value (carrying value) = purchase cost - accumulated depreciation of the asset
