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goldfiish [28.3K]
3 years ago
15

Suppose winston's annual salary as an accountant is $60,000, and his financial assets generate $4,000 per year in interest. one

day, after deciding to be his own boss, he quits his job and uses his financial assets to establish a consulting business, which he runs out of his home. to run the business, he outlays $8,000 in cash to cover all the costs involved with running the business, and earns revenues of $150,000. what costs would be considered when calculating economic profit?
Business
1 answer:
timama [110]3 years ago
4 0
60k and 4k because thats what he put he lost
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Blaster, Inc., manufactures portable radios. Each radio requires 3 units of Part XBEZ52, which has a standard cost of $1.25 per
garik1379 [7]

Answer:

1,065 U

Explanation:

Materials Price Variance = Actual Quantity Purchased * (Standard Price – Actual Price)Actual Price= Total Cost / Quantity Purchased

= ($27,690 /21,300 )=$ 1.3

=21,300* [$1.25 – $1.3]

=21,300*0.05

=1,065 U

During May, the materials price variance for part XBEZ52 was 1,065 which is Unfavourable because the actual

purchase price is higher than standard.

5 0
2 years ago
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 36,100
salantis [7]

Answer:

1) Direct materials=$43070

2)Direct labor=$126300

3)Manufacture overhead=$117600

4)Total manufacturing cost=$286970

5)Prime cost=$169370

6)Conversion costs = 126300+117600= $243900

7)Total period cost= $418670

Explanation:

The company reported the following costs for 2018:

1) Direct materials

Thread 1,020

Premium quality cotton material 41,300

Buttons 750

Total= $43070

2)Direct labor

Wages paid to seamstresses 76,200

Wages paid to cutters 50,100

Total= $126300

3) Manufacture overhead

Factory rent $ 36,100

Utilities for factory 24,600

Cutting room supervisor's salary 31,300

Factory insurance 19,100

Depreciation on sewing machines 6,500

Total= $117600

Notice that marketing, Depreciation on salespersons' vehicles and president's salary are not part of manufacturing overhead.

4)Total manufacturing cost=$43070+126300+117600=$286970

5)Prime cost= direct material + direct labor=43070+126300=$169370

6)Conversion costs = Direct labor + Manufacturing overhead= 126300+117600= $243900

7)Total period cost= manufacturing cost + Company advertising + Depreciation on salespersons' vehicles + President’s salary

Total period cost= 286970 + 24200 + 30600 + 76900= $418670

7 0
3 years ago
An investor purchases a stock for $38 and a put for $.50 with a strike price of $35. The investor sells a call for $.50 with a s
Nuetrik [128]

Answer: $2

Explanation:

From the question, we are informed that an investor purchases a stock for $38 and a put for $.50 with a strike price of $35 and that the investor sells a call for $.50 with a strike price of $40.

The maximum profit for this position will be the purchase price of the stock deducted from the strike price of call option. This will be:

= $40 - $38

= $2

7 0
3 years ago
Albert jones went to his local department store to purchase a pair of levi's. he thought that the style of levi that he wanted w
geniusboy [140]

The behavior of Albert is consistent with the law of demand.

The basic law of demand says that the higher the price of a commodity, the lower the quantity demanded; and the lower the price of a commodity, the higher the quantity demanded.

Albert went to his local store, hoping to buy a pair of Levi's for $30, however, when he got there, the price was lower at $18, he then decided to buy more than one because the price was lower. This is the law of demand taking place.

6 0
3 years ago
1.1 W (5 marks) Calculate the economic order quantity (EOQ) per annum. Economic order quantity Startrek Secondary School purchas
klemol [59]

Based on the math sets purchased by Startrek Secondary School as well as its various costs, the Economic Order Quantity is 84.61 sets.

<h3>What is the Economic Order Quantity?</h3>

This can be found as:

= √(2 x Annual math sets needed x Ordering cost per unit/ Carrying cost

Carrying cost is:

= 80 x 11%

= R8.80

The EOQ is therefore:

=  √(2 x 700 x 48 / 8.8

= 84.61 math sets

Find out more on the Economic Order Quantity at brainly.com/question/26814787.

#SPJ1

7 0
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