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DiKsa [7]
3 years ago
7

An _________________ is calculated by subtracting the firm's costs from its total revenues, _______________________. *

Business
1 answer:
LuckyWell [14K]3 years ago
5 0

Answer:

A. accounting profit; excluding opportunity cost

Explanation:

here are the options to this question :

A. accounting profit; excluding opportunity cost

B. accounting profit; including opportunity cost

C. economic profit; excluding opportunity cost

D. opportunity cost; including economic profit

Accounting profit is total revenue less total explicit cost.

Revenue = price x quantity sold

explicit cost is the cost actually incurred in carrying out a particular activity e.g. wages, rent

Economic profit is accounting profit less opportunity cost.

Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.

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Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $
attashe74 [19]

Answer:

$1,702 , $1,497, and $1,957

Explanation:

The computation of the total cost is shown below:

Particulars Strawberry Vanilla Chocolate

Direct Labor $766          $841  $1,141

Direct Material  $816          $516  $616

Overhead   $120               $140        $200

                        (60 × 2)           (70 × 2)   (100 ×2)

Total Cost   $1,702           $1,497    $1,957

We simply added the direct labor cost, direct material cost and the overhead cost so that the total cost could come

8 0
3 years ago
Sofia bought a couch that required a $60 down payment and $60 per month for the next eight months. Which type of liability does
Anna35 [415]
Answer should be d) a current liability
8 0
3 years ago
A competitive firm maximizes profit by choosing the quantity at which.
photoshop1234 [79]

Profit maximization can be achieved by a competitive corporation by choosing a quantity of output such that marginal revenue equals marginal cost.

<h3>How does a corporation maximize its profit?</h3>

A corporation maximizes income via way of means of operating wherein marginal revenue equals marginal price. The corporation chooses quantity in order for that rate to equal marginal value so that it can maximize its profit.

Therefore, When the marginal revenue for an aggressive corporation equals the market rate, the firm maximizes its profit.

learn more about profit maximization here:

brainly.com/question/4171648

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7 0
1 year ago
Calculate gross profit for the following situation: National Storage Company had sales of $1,000,000, sales discounts of $2,500,
Pie

Answer:

$475,500

Explanation:

Sales is $1,000The discountscount is $2500

Sales return and allowances are $15,000

The cost of goods sold is $525,000

Therefore the gross profit can be calculated as follows

= 1,000,000-2,500-15,000-525,000

= 457,500

Hence the gross profit is $475,500

3 0
3 years ago
You are the IT director at Attaway Airlines, a small regional air carrier. You chair the company's systems review committee, and
Masja [62]

<u>Explanation:</u>

Been the IT director at Attaway Airlines, it will be important to prepare a draft of the advantages and the level of difficulties the new computerized reservation system from an IT perspective.

However, the ultimate goal is not to simply win arguments, but to explain and consider the facts from both the Vice president of finance and the Marketing Manager.

4 0
3 years ago
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