Answer:
Explicit costs are the costs which requires the money to pay.
On the other hand, implicit costs refers to the benefit that is foregone by choosing some other work or doing some other activity.
Therefore,
Explicit costs are as follows:
1. Wages pays to his hired hand
2. Buys feed for his cows.
3. Gas expense that is used in truck
Implicit costs are as follows:
1. Foregone income of $27,000 from working at a dairy plant as a technician.
2. Time taken for extracting milk from all the cows.
Answer:
Letter D is correct. <em>Public knowledge test.</em>
Explanation:
The ethics test to make your decision was the public knowledge test. According to studies, a person judges the consequences of taking an unethical attitude using a sequential and rational approach. There are a sequence of judgments which are: moral rules, defense testing, ethical principles, and anticipatory high evaluation. Taken together, these steps will help you identify if there are more advantages or disadvantages to an unethical act.
Answer:
(A) 5 and 10.
Explanation:
Factor which can shift the Investment spending:
(5) Profit Expectations
If the firm forecast a good economy will probably invest more than if it forecast a bad economy. businessman will increase and decrease their investment based on expepectations.
(10) Degree of Excess Capacity
Assuming a rational behavior, company's will investment if needed. So if there is a portion of unsued capital they will use it before investing to acquire more. Once the current capital is used or near max capacity they will invest. Below a certain threshold they won't.
Answer and Explanation:
The preparation of production budget is shown below:-
Weightless Inc
Production Budget
For the month ending October 31
Units Bath Scale Units Gym Scale
Expected Units to
be sold 150,000 90,000
Desired Inventory,
October 31 12,500 8,000
Total 162,500 98,000
Less: Estimated Inventory,
October 1 -18,000 -10,000
Total Units to be
produced 144,500 88,000
prepaid means already paid
