<h3>An employee works part-time, full-time, or is temporary in a job assignment. An employee barters his or her skills, knowledge, experience, and contribution in exchange for compensation from an employer. ... Employers must pay the non-exempt employee for every hour worked as they are paid by the hour.</h3>
Explanation:
<h2>#CARETOLEARN❤️</h2>
Answer
Gomez's business accounting profit amounted to $37500 while economic profit is $6000
Accounting profit is simply deducting explicit costs from revenue.Explicit costs are costs that require actual cash flow from the entity.
Economic profit on the other hand is calculated by deducting both explicit and implicit costs from revenue.
Implicit costs are costs relating to alternative opportunities forgone.
Explanation:
Both accounting and economic profits are highlighted below:
Accounting profit=Total revenue-explicit costs
Revenue $82,000
Helper's wages ($15,000)
Rent ($6,500)
Materials ($23,000)
Accounting profit $37,500
Economic profit =Revenue -explicit costs-implicit costs
Revenue $82,000
Helper's wages ($15,000)
Rent ($6,500)
Materials ($23,000)
Return lost money invested ($6,000)
Lost income from porter's offer ($20,500)
Entrepreneur's talent ($5,000)
Economic profit = $6,000
Frequent, likely, occasional, seldom, and unlikely are the five categories of probability in the Risk Assessment Matrix which means the likeliness that an adverse or critical event will occur. The purpose of Risk Assessment Matrix is to estimate the degree of severity and probability for each hazard.
Answer:
The break even units of clock is 370 units.
Explanation:
Juniper Enterprises sells handmade clocks.
The variable cost per clock is $6.
The price of per unit of clock is $24.
The contribution margin per unit
= Sales - Variable cost
= $24 - $6
= $18
Break even units
= 
= 
= 370 units
