1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
castortr0y [4]
3 years ago
5

Ernesto owns a house painting company. Total sales for the past year were $75,000. His bills for running the business were $30,0

00. Stan, who owns a furniture-making company, previously asked Ernesto to come work for him at a salary of $40,000. Ernesto's accounting profit is______ and his economic profit is ________$
Business
1 answer:
pentagon [3]3 years ago
7 0

Answer:

Accounting profit = $45,000

Economic profit = $5,000

Explanation:

The computation of accounting profit and economic profit is shown below:-

Accounting profit = Sales - External expenses

= $75,000 - $30,000

= $45,000

Economic profit = Accounting profit - Implicit cost

= $45,000 - $40,000

= $5,000

Therefore for computing the accounting profit and economic profit we simply applied the above formula so that each one could arrive

You might be interested in
Click this link to view O*NET’s Wages and Employment section for Construction Managers. According to O*NET, what is the projecte
Aleks04 [339]
Do you know the answer cause I. Need help aswellllllllllll
4 0
3 years ago
Read 2 more answers
Which statement of cash flow method would require the disclosure of the noncash transaction of acquiring a factory financed enti
Pie

Answer: Direct and indirect statement of cash flows

Explanation: statement of cash flows shows the overall computed inflow and outflow of cash that took place in an organization over a given period of time. It shows how well an organization managed it's cash which is used to settle it's debts and make profit.

The direct method only considers the cash inflow and outflow into account and produces the cash flow from it's operations.

The indirect method considers the net income as the starting point and prepare the inflow and outflow using adjustments.

3 0
3 years ago
Motorola and apple are two large competitors in the cellular phone market. it is a violation of the __________ if sanjay jha ser
AURORKA [14]

Answer:

Competition act.

Explanation:

When same person on the board of two or more than two competing firms then such instance is referred to as interlocking directorate. This will significantly have an impact on the market and the competition.

8 0
3 years ago
What divides the system into a set of functional units that can be used independently or combined with other modules for increas
Aleksandr [31]
The modular design divides the system into a set of functional units that can be used independently or combined with other modules for increased business flexibility. <span>The system's components may be separated and recombined with the help of this design. The goal is better results (profit) and efficiency.</span>
5 0
3 years ago
A product-focused process is commonly used to produce: A) high-volume, high-variety products. B) low-volume, high-variety produc
valkas [14]

Answer:

C. high-volume, low-variety products

Explanation:

 There are other types of processes. This process is completely developed around the product, it is considered a continuous process with high volume of products that have low variety. <em>It presents a high facility utilization (this is considered an advantage), organized by product, which receives a high-fixed price, but the variable cost is low.</em>

7 0
3 years ago
Other questions:
  • Larry Gaines, a single taxpayer, age 42, sells his personal residence on November 12, 2019, for $151,200. He lived in the house
    9·1 answer
  • Which method for calculating a credit card balance does not take into account the purchases or the payments made during the curr
    5·2 answers
  • On January 1, 2018, Frost Corp. changed its inventory method to FIFO from LIFO, for both financial and income tax reporting purp
    12·1 answer
  • Multiple-Step and Single-Step Income Statements, and Statement of Comprehensive Income
    8·1 answer
  • Mack's guitar fabrication shop produces low cost, highly durable guitars for beginners. Typically, out of the 100 guitars that b
    5·1 answer
  • How many copies of "The 7 Habits of Highly Effective Teens" has Sean Covey sold?
    15·1 answer
  • Fill in the blanks: The plan you present during the advise phase of your inbound sales strategy closes the gap between _______ a
    15·1 answer
  • Current Attempt in Progress Restate the following income statement for a retailer in contribution format. Sales revenue ($100 pe
    6·1 answer
  • John, who has just completed his first finance course, is unsure whether he should take a course in business analysis and valuat
    9·1 answer
  • The adjusting entry to record revenue for services the seller has performed but not yet collected requires ______.
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!