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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

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Sheaves, Inc., has sales of $50,000, costs of $23,000, depreciation expense of $2,250, and interest expense of $2,000.
Dominik [7]

Answer:

$21,767.50

Explanation:

<u>Computation table:</u>

<u>Particular                      Amount</u>

Sales                             $50,000

Less: Costs                   $23,000

<u>Less: Depreciation       $2,250</u>

<u>EBIT                              $24,750</u>

<u>Less: Interest               $2,000. </u>

<u>EBT                              $22,750</u>

<u>Less: Tax (23%)           $5,232.50 </u>

<u>Net Income              $17,517.50</u>

$24,750 + 2,250 -5,232.50

$21,767.50

6 0
3 years ago
Amendments involving changes to irb approved protocols do not need prior irb approval if:
yaroslaw [1]
<span>If the changes need to be done immediately in order to benefit the health of the client, then IRB approval is not required. The IRB, which stands for Institutional Review Board, is a select group of people that review and regulate biomedical research in which human beings are involved. This group is regulated by the FDA.</span>
3 0
3 years ago
Goods with many close substitutes tend to have a. more elastic demands. b. less elastic demands. c. price elasticities of demand
Aleksandr-060686 [28]

Answer:

The correct answer is (A)

Explanation:

Normally, goods which close substitutes tend to have more elastic demand as it is easier to switch from one brand to another because they are close substitutes. For example, if the price of Pepsi increases the consumers will easily shift towards Coca-Cola. So, close substitutes are price sensitive and they have high elastic demand compared to other goods.

4 0
3 years ago
$82 Using the incremental method, what amount of revenue will be allocated to Math Fun in the package that contains all three pr
Leno4ka [110]

Answer:

$28.62

Explanation:

Calculation to determine what amount of revenue will be allocated to Math Fun in the package that contains all three products

First step is to calculate the Total revenue of three product if sold individually

Total revenue= $21 + $37 + $48

Total revenue= $106

Now let calculate the allocation of revenue to Math fun based on revenue proportion

Using this formula

Revenue allocation= Packaged revenue / Total individually revenue * Revenue of Math fun

Let plug in the formula

Revenue allocation= $82/106*37

Revenue allocation= $28.62

Therefore the amount of revenue that will be allocated to Math Fun in the package that contains all three products is $28.62

6 0
3 years ago
Which piece of educational information is normally not asked about on a job application?
RSB [31]
The educational information is that to be given in a job application depends on the type of job you are applying for. Those jobs that require educational background are those jobs that require particular level of education like level of education for a politician for example. As long as the nature of the job do not require a particular level of education, it is not proper to ask for educational information.
4 0
3 years ago
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