Accountants consider only explicit costs when measuring accounting profit. Accountants ignore implicit costs because

A perfectly competitive industry achieves allocative efficiency in the long run. What does allocative efficiency mean? A. Each

Sedaia [141]

Answer: B. Each firm produces up to the point where the price of the good equals the marginal cost of producing the last unit.

Explanation:

Allocative efficiency means that the point chosen on the production possibility frontier is socially preferred.

In a perfectly competitive market, allocative efficency is achieved at the point where price equals the marginal cost of production. At this price producer and consumer surplus is maximised.

6 0

3 years ago

Updating procedures and systems, reinforcing marketing strategies, and updating advertising techniques, are all examples of what

Travka [436]

An operational change is an exchange inside the structure of your corporation. That could be a reorganization, layoffs, or just a group alternate daily a strategic or task declaration trade. Operational changes are a number of the roughest in your personnel due to the fact they by no means quite understand daily.

Change is basically a variation within the common manner of doing things. every time people carry out a venture in a sure way, they get accustomed to them. They expand strategies which they could put into effect mechanically every day to reap those tasks. Any variation in those strategies is not anything however change.

An alternate is a venture, initiative, or solution being added to the agency to improve the manner work gets accomplished, clear up a problem, or take benefit of a possibility. Almost any project, initiative, or solution that improves a company will affect how employees do their work.

Learn more about the corporation here: brainly.com/question/24448358

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8 0

1 year ago

During its first year of operations, the McCormick Company incurred the following manufacturing costs:_______. Direct materials,

notka56 [123]

Answer:

Net income= $432,000

Explanation:

Giving the following information:

Fixed overhead, $224,000.

The company produced 28,000 units, and sold 19,000 units, leaving 9,000 units in inventory at year-end.

Income calculated under variable costing is determined to be $360,000.

The difference between absorption costing and variable costing method is that the first one includes the fixed manufacturing cost in the unitary production cost. <u>Some of the fixed overhead is allocated into ending inventory increasing the net income for the period.</u>

Unitary fixed overhead= 224,000/28,000= $8

Fixed overhead in ending inventory= 8*9,000= $72,000

Net income= 360,000 + 72,000= $432,000

6 0

3 years ago

Explain six Differences between private and public company

elena-s [515]

<h3>Question:</h3>

•explain six Differences between private and public company.

Answer:

•In most cases, a private company is owned by the company's founders, management, or a group of private investors. A public company is a company that has sold all or a portion of itself to the public via an initial public offering.

Explanation:

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6 0

2 years ago

Short definition for business cycle ?

DiKsa [7]

A cycle or series of cycles of economic expansion and contraction.

4 0

3 years ago