Answer:
Accounting Profit = $11,875
Economic Profit = $1,575
Explanation:
income from job = $10,000 /month
Rent which could have been earned = $300 /month
Office supplies = $75 /month
Increase in electricity bills = $50 /month
Income from home = $12,000 /month
(a) Accounting profit = Income - Costs
= $12,000 - ($75 + $50)
= $11,875
(b) Economic profit = Accounting profit - Opportunity cost
= $11,875 - ($10,000 + $300)
= $1,575
Canada, Australia, & South Africa are all of the countries that use tax brackets as part of their tax system
Answer:
Incremental income as scrap=$66,500
Incremental income when re-worked= $81,700
Explanation:
Unit contribution from selling as scrap is the equal to the scrap value = 3.50
Unit contribution when reworked and sold as scrap =Selling price - cost of re-work= $8.90-4.60= $4.3
Incremental income as scrap = $3.50×19,000= $66,500
Incremental income when re-worked= $4.3 × 19,000 = $81,700
Incremental income as scrap=$66,500
Incremental income when re-worked= $81,700
Answer:
A. Act Again
Explanation:
In business, tracking a progress is made to ensure that you make a constant improvement within your operation.
During the observation process, you'll notify the things that can either become a hindrance or improvement to your operation. During the adjustment process, you'll eliminate the hindrance and add the things that can become the improvement into the plan.
After both of these were done, you need to act to execute the plan and check the progress again. This will form a cycle that you need to do throughout the operation.
