Answer:
Accounting profit - Your actual profit
Economic profit - Profit, but opportunity cost factored out
Explanation:
Accounting profit is how much you made (Revenue - Explicit Cost.
Economic profit includes implicit costs, or opportunity cost. If you could have made $100,000 at a different job, you subtract that. If Accounting-Economic profit is 0 or higher, you should stay in business.
Answer:
The upper limit is 10.1
The lower limit is 9.91
Explanation:
Given that:
The mean fill level (μ) = 10.01 ounces,
Standard deviation (σ) = 0.25 ounces
Number of sample bottles (n) = 20
The limits of the sample mean = 92% = 0.92
α = 1 - 0.92 = 0.08
The z value of 0.04 is the same as the z value of 0.46 (0.5 - 0.04). From the probability distribution table:
The margin of error (e) is given by:
The upper limit = μ + e = 10.01 + 0.1= 10.1
The lower limit = 10.01 - 0.1 = 9.91
Answer:
the correct answer is *not spending all their current incomes.
Explanation:
if you look at all the other options, they are not creating wealth but depletes it away. the only way to build wealth is by investing and saving over time. ideally, by not spending all their current income.
Answer:
A) The policy would provide a maximum of $100,000 for each person who was injured, and no more than $300,000 for total injuries of all parties in the accident.
Explanation:
The auto liability insurance policy held by the driver is an example of a split limit liability insurance. The split limit insurance of 100/300/50 is explained thus:
$100,000 - bodily injury liability insurance per person
$300,000 - Total bodily injury liability insurance per accident
$50,000 - Property damage liability per accident.
The fixed factory overhead volume variance is $400 (unfavorable)
solution
Fixed Overhead Volume Variance = Applied Fixed Overhead – Budgeted Fixed Overhead
Applied Fixed Overhead
= 4,000 units ×2.5 hrs per unit×$0.80 = $8000
and
Budgeted Fixed Overhead =10,500 hrs × $0.80 = $8400
Fixed Overhead Volume Variance = $8000- $8400 = $400 (unfavorable)
