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3 years ago

Implicit costs are ______.

Business

1 answer:

iVinArrow [24]3 years ago

8 0

Answer:

The correct answer is B

Explanation:

Implicit cost is also known as the notional cost, imputed cost or implied cost, which is defined or described as the opportunity cost that is equal to what a company or business give up so that, could use a factor of production for which it owns already and does not require to pay the rent.

This cost is stated indirectly and or it is already implied in the production and it also the opportunity costs of the resources which are self- employed.

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Carmie Iria, the director of a systems project committee, has received management approval for the implementation of a new accou

Elena L [17]

Answer: B. a turnkey system

Explanation: A turnkey system is a system that has been customized for a particular application. It can also be said that it is a ready to run system.

It is a complete computer system that include a hardware, operating system and application(s) designed and sold to satisfy specific business requirements.

An example of a turnkey system is a system designed for an organisation that includes software and hardware for its employees to work with.

7 0

3 years ago

Read 2 more answers

You need a 30-year, fixed-rate mortgage to buy a new home for $210,000. Your mortgage bank will lend you the money at a 7.1 perc

miskamm [114]

Answer:

$573,963

Explanation:

First, calculate the present value of the loan payments using the following formula

PVA = PMT x [ ( 1 + r )^n - 1 ] / [ r ( 1 + r )^n)

PVA = $950 x [ ( 1 + 7.1%/12 )^360 - 1] / [ 7.1%/12 ( 1 + 7.1%/12 )^360)

PVA = $141,362.32

Now calculate the difference of Value of loan and the present value of loan payment

Difference = Loan value - PV of loan payment = $210,000 - $141,362.32 = $68,637.68

This te Ballon payment in present value term, We need to determine the value at the end of the loan term.

Hence we need to calculate the future value of this payment as follow

Future value = Present vale x ( 1 + Monthly Interest rate )^numbers of months

Future value = $68,637.68 x ( 1 + 7.1%/12 )^360

Future value = $573,963.09

Future value = $573,963

Hence the ballon Payment will be $573,963

7 0

3 years ago

How do you do income statement

igomit [66]

To prepare an income statement, you will need to generate a trial balance report, calculate your revenue, determine the cost of goods sold, calculate the gross margin, include operating expenses, calculate your income, include income taxes, calculate net income and lastly finalize your income statement with business details and the reporting period.

If you can't find the time to make one from scratch, there are templates that can be used to help.

gross margin : the amount of money a company retains after incurring the direct costs associated with producing the goods it sells and the services it provides.

net income : net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses.

3 0

2 years ago

If a price ceiling is not binding, thena. the equilibrium price is above the price ceiling.b. the equilibrium price is below the

IgorLugansk [536]

B. The equilibrium price is below the price ceiling.

5 0

3 years ago

Rockeagle Corporation began fiscal Year 2 with the following balances in its inventory accounts.

irinina [24]

Answer:

I solved this manually. please try to follow up with the calculations.

ending inventory balance of

a. Raw material = $31000

b. work in progress = $49000

c. finished goods = $19000

Explanation:

for raw material:-

balance at beginning 30,000 + purchase of 125000 - issue of 124000

= 30000+125000-124000

= 31,000

the ending balance is 31000

for work in progress inventory:-

beginning inventory 45000 + 124000 current cost of issued material + 162000 direct wages + overhead 24000

= 45000+124000+162000+24000

= $355000

we subtract 306000 costs of goods manufactured from this value

= $355000-306000

= 49000 wip ending balance

for finished goods inventory:-

begining inventory 14000 + 306000 costs of goods manufactured - 301000 costs of goods sold

= 14000+306000-301000

= $19000

2. schedule for costs of goods manufactured:-

beginning inventory 30000 + purchase 125000 - ending inventory

= 30000+125000-31000

= 124000

124,000+162000 labour cost+24000

total cost of manufacturing = 310000

310000+begining wip of 45,000 - ending inventory of 49000

= 310000+45000-49000

= 306,000 costs of goods manufactured

we add this value to beginning inventory of finished goods-ending inventory

= 306000+14000-19000

= $301000 costs of goods sold

3. income statement:-

revenue of 400000 - 301000 costs of good sold = 99000

99000-36000 selling expenses

= $63000

4 0

3 years ago