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mestny [16]
3 years ago
10

"What is Al’s total revenue? 3 pts) B. What are Al’s explicit costs? In numbers (3 pts) C. What is his accounting profit? In Num

bers (3 pts) D. List 2( in numbers ) implicit costs that Al has not included. (3 pts) E. What is Al’s pure economic profit (loss)in numbers? ("
Business
1 answer:
erik [133]3 years ago
8 0

Answer:

A. $1,020,000

B.$680,000

C.$340,000

D.$95,000

E.$245,000

Explanation:

A. Calculation for Jon’s total revenues

Using this formula

Jon's total revenue = Amount of fees per person × Number of persons

Let plug in the formula

Jon's total revenue = $1,200 × 850

Jon's total revenue=$1,020,000

B. Calculation for Jon’s explicit costs

Using this formula

Explicit costs = Amount of money that goes for instructors, maintenance, equipment,insurance, depreciation ×Number of persons

Let plug in the formula

Explicit costs= $800 ×850

Explicit costs =$680,000

C. Calculation for the his accounting profit

Using this formula

Accounting profit = Amount of Revenue - Explicit costs

Let plug in the formula

Accounting profit= $1,020,000 - $680,000 Accounting profit=$340,000

D. Calculation to List 2 in numbers 2 implicit costs that Jon has not included

Based on the information given we were told that he is foregoing an amount of $92,000 as wage and 1.5% interest on his amount of $200,000 which is a corporate bonds to start the business.

Hence

Jon total opportunity costs = $92,000 + (1.5%×$200,000)

Jon total opportunity costs = $92,000 +$3,000 Jon total opportunity costs=$95,000.

E. Calculation for Jon’s pure economic profit (or loss) in numbers

Using this formula

Economic profit = Accounting profit - opportunity costs

Let plug in the formula

Economic profit = $340,000-$95,000

Economic profit = $245,000

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Explanation:

Since the center manager needs to measure the productivity of the agent and the customer satisfaction, the report that should be recommended by a consultant would be the average handle time and the first contact resolution.

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Riley Company paid $60,000 cash to purchase land from Smally Company. Smally originally paid $60,000 for the land. A) Was this e
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Answer:

A. Asset exchange transaction

B. Asset exchange transaction

C. Investing activity

D. Investing activity.

Explanation:

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So,  

A. For Riley company, it is an asset exchange transaction as the asset exchanges between Riley and Smally company.  

B.  For Smally company it is an asset exchange transaction as the asset are the exchange between Riley and Smally company.

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D. Investing activity. As the company deals in the purchase and the sale of the fixed assets.

4 0
3 years ago
If fixed costs increased and variable costs per unit decreased, the break-even point would_______________.
Aleksandr-060686 [28]

Answer:

The correct option is D,cannot be determined from the data provided

Explanation:

Break-even points in units=fixed costs/contribution margin per unit

Contribution margin per unit =selling price -variable cost

In other words, from the scenario, it is clear that the numerator fixed costs has increased and also a reduction in variable cost per unit implies an increase in contribution margin per unit since a lesser variable cost is being deducted from selling price.

The impact of both increases in fixed costs and contribution margin cannot be determined except if more details is provided which will give further guidance regarding which of the two increased at a higher rate compared to the other.

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Sheffield Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 a
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The journal entry to record the purchase of the raw materials by Sheffield Company is as follows:

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Credit Accounts Payable $1,031,600

  • To record the purchase of the raw materials in 2021.

The December adjusting entry can be revised with:

Debit Estimated Liability $53,300

Credit Unrealized holding Loss $53,300

  • To reverse the December 31 adjusting entry.

<h3>What is an unrealized holding loss?</h3>

In this instance, the unrealized holding loss arose from the fact that the market value of the raw materials is less than the purchase amount because of the noncancelable commitment.

Thus, the unrealized holding loss arose as the difference between the market value and the purchase amount.

<h3>Data Analysis:</h3>

Purchases $1,031,600 Accounts Payable $1,031,600

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Thus, the entry to record the purchase is a debit to the purchases account and a credit to accounts payable.

Learn more about recording purchases at brainly.com/question/24179237

3 0
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It means that consumers are now willing to purchase more of this product at each possible price. 
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