Answer:
Dear management.
I am thankful to have been appointed as the cost accountant.
This memo is to introduce, briefly, some the most common costs classifications.
Costs can be classified mainly according to their nature, functions, and traceability.
Nature: they can be labor costs (wages paid to workers), material costs (money paid for material goods used in the production of something), and other expenses.
Functions: the costs are classified according to their function. They can be production costs (used in the production process), or commercial costs (used for selling and administrative purposes).
Traceability: the costs are classified depending on whether they can be traced back to the final product or not. They can be direct costs (can be traced back to the final product), or indirect costs (cannot be traced back to the final product).
Answer:
Accountant 34,100 gain
Economist (6,500) loss
Explanation:
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<u>Accountant:</u>
revenue 60,000
operating cost 25,000
Interest expense 900 ( 30,000 x 3%)
net income 34,100
<u>Economist: </u>
revenue 60,000
explicit cost 25,900
<em>implicit cost (opportunity cost):</em>
savings yield:
20,000 x 3% = 600
painter job 40,000
economic loss (6,500)
The appropriate mutual fund that is going to be helpful for Mr Patel would be the Equity Mutual funds.
<h3>What is the Equity Mutual funds?</h3>
This is the type of investment that is overseen by a professional in the corporate money business.
Given that he said that he does not want to care much, this would be appropriate for him. Because he is not risk averse, he is going to have a higher return here.
Read more on Equity Mutual funds brainly.com/question/23601898
Answer:
Fall; lowers; falls; decrease; lower; increases; fall; away from orange juice and toward tomato juice; falls.
Explanation:
Ketchup is a complement and condiment in hot dogs. An increase in the price of hot dogs will cause its quantity demanded to fall. This will cause the demand for ketchup to decrease as well. The demand curve for ketchup will move to the left. This will cause the equilibrium quantity to fall. This will further cause a reduction in the demand for tomatoes by ketchup producers.
A decrease in demand will cause the equilibrium price of tomatoes to fall. A reduction in the price of tomatoes will lower the cost of producing tomato juice. The firms will be able to supply more at the same cost. This will cause the supply to increase. As the supply curve moves to the right, the equilibrium price of tomato juice will fall.
Orange juice is a substitute for tomato juice. The consumers will prefer the cheaper substitute. As a result, demand will move away from orange juice towards tomato juice. This will cause the demand for orange juice to fall.