Since there are no fixed costs in the long run, choice (c) is the correct one.
<h3>What is implicit cost?</h3>
You make the decision to forgo receiving a salary during the first two years in order to assist cover starting costs. Any expense that has already happened but isn't always shown or reported as a separate charge is considered an implicit cost. It stands for an opportunity cost that develops when a business commits internal resources to a project without receiving any direct payment in exchange. In the field of economics, an implicit cost, also known as an imputed cost, implied cost, or notional cost, is the opportunity cost corresponding to what a company must forgo in order to employ a factor of production that it already owns and is therefore not subject to rental fees. In contrast, an explicit expense is one that is paid for up front.
<h3>Which is not an implicit cost?</h3>
Employee salaries serve as a direct variable cost that is dependent on the level of production; as such, they are an accounting expense rather than an implicit one.
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Answer:
The classic explanation of the advantages of high retained profit is that they: increase stock value. assure corporate stability. provide funds for research and expansion without increasing corporate debt.The portion of profits not distributed among the shareholders but retained and used in business is called retained earnings. It is also referred to as ploughing back of profit. This is one of the important sources of internal financing used for fixed as well as working capital.
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Answer:
contribution margin ratio= 0.37
Explanation:
Giving the following information:
Sales= $4,700
Total variable cost= $2,961
To calculate the contribution margin ratio, we need to use the following formula:
contribution margin ratio= (sales - total variable cost) / sales
contribution margin ratio= (4,700 - 2,961) / 4,700
contribution margin ratio= 0.37
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