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quester [9]
3 years ago
7

Robert a highly successful manager, quit his job in a large retail store so that he could start his own

Business
1 answer:
olga2289 [7]3 years ago
7 0

Answer:

Robert a highly successful manager, quit his job in a large retail store so that he could start his own

practice. He has been in his own business for a little over one year. He has a building and pays

$40,000 mortgage payments

He took out $200.000 which he had in a Time Deposit (CD) that was making 8% a year and put it in

his checking account that is making 0% Interest, He will use that money for the explicit cost

expenses he has for his new business which you will see in this problem

He must pay $7.000 a year in property taxes. He hired a contract software developer to write an

Inventory software system for $160,000 for the year. His revenues in the first year were $350.000.

Thomas earned $200.000 he was with that large retail form. He also got 560.000 a year in profit

sharing each year. His advertising for his first year came to $40,000. His electricity and gas usage

came to $20,000 for the year.

1. List the explicit costs and then list the implicit costs. Be sure to properly LABEL them so that

can give partial credit if you make a mistake.

2. For the year, his accounting profit for loss) is -

and his economic profit for loss) is

3. Did he make an economic profit an economic loss or did he break even? What does his economic

profit breakeven, or economic loss result mean?

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Which of the following represents a business process you would find in the Operations Management departmenta. rdering inventoryb
Rudik [331]

Answer:

a. Ordering inventory.

Explanation:

Operation management is an adminstration job for designing, producing, controlling and delivering the goods and service to the end user with highest use of efficiency within the organization. This help the organization to maximize the profit with optimum utilization of resources. Inventory management is also part of operations management, wherein inflow and outflow of inventory are managed, which include storage, ordering, labeling, issuing, withdrawing etc.

6 0
3 years ago
Many firms in the United States file for bankruptcy every year, yet they still continue operating. Why would they do this instea
vladimir1956 [14]

Answer:

see below

Explanation:

A firm may either opt to shutdown or declare bankruptcy if its making losses.  A shutdown will involve ceasing operations and disposing of assets to pay creditors. Declaring bankruptcy shields the business from debt obligations or seizing of assets by its creditors.

Many businesses opt to declare bankruptcy because shutting down is costly. Except for properties, other assets are likely to be liquidated at costs below their book value. With the burden of debts shelved for some time, a business has a chance of bouncing back to profitability. A loss-making firm whose price is above the average variable cost should continue operating.

3 0
3 years ago
Which of the following are reasons that the short-run aggregate supply curve slopes upward?
kaheart [24]

Answer:

The short-run aggregate supply curve slopes upward because of all of the following reasons except a. in the short run, as prices of final goods and services increase, some firms are very slow to adjust their prices, thus their sales increase. b. in the short run, an unexpected change in the price of an important resource can change the cost to firms.

Hope this helps :)

5 0
3 years ago
What factor counts the least in calculating a person's credit score?
aleksandrvk [35]

Rent and utility payments: In most cases, your rent payments and your utility payments are not reported to the credit bureaus, so they do not count toward your score.

4 0
3 years ago
A manager states that his process is really working well. Out of 1,500 parts, 1,477 were produced free of a particular defect an
worty [1.4K]

Answer:

, other things being equal?DPMO= # of defects/# of opportunities for error per unit x # of units (1,000,000)DPMO= 23/1500 x 1,000,000 or DPMO= 23/1,500,000,000 or DPMO= 1.53The 1.53 is within the target specification of Six Sigma. This performance is rated as within limits means the process is working well. The product is within the limits of the defects allowed based off the1500 parts or the “four defects per million units

Explanation:

5 0
3 years ago
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