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2 years ago

Explain and give an example the difference between an explicit cost and an implicit cost.

Business

1 answer:

Amanda [17]2 years ago

7 0

Answer:

Explicit costs are out-of-pocket costs for a firm

for example, payments for wages and salaries, rent, or materials. Implicit costs are the opportunity cost of resources already owned by the firm and used in business

for example, expanding a factory onto land already owned.

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What is the primary role of our banking system?

Serhud [2]

Answer:

See explanation section

Explanation:

The primary role of the banking system is to accept deposits from the general public so that the money can be given as a loan to the public in an effective way to foster the economy. It is the safest platform where people keep their money to get a bonus while people borrow money to continue operating.

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3 years ago

Read 2 more answers

"cost assignment refers to the general case of assigning costs to cost pools or cost objects. when there is a direct and traceab

tatuchka [14]

Yes you are correct the cost pool is the people cost object is the product

6 0

3 years ago

QUESTION 2 of 10: Three smoothie shops exist in your town with annual sales of $300,000; $344,000; and $412,000. What is the ave

Goshia [24]

Answer:

352,000

Explanation:

add up all the numbers, then you divide by 3

6 0

3 years ago

Standlar Company makes wireless speakers. The standard model price is $360 and variable expenses are $210. The deluxe model pric

bija089 [108]

Answer:

The overall Sales revenue at break even is $515995.872

Explanation:

The overall break even in dollars or the composite break even point is the Total revenue that a business must earn from all its products that should be equal to the total costs from all its products and there is no profit or no loss.

The formula for composite or overall break even in dollars is,

Break even in dollars = Fixed costs / Weighted average contribution margin ratio

Where the weighted average contribution margin ratio is the weghtage of each product in the overall sales mix multiplied by the contribution margin of each product.

The total sales mix is = 8 + 4 + 1 = 13

Weighted average contribution margin ratio = ((360 - 210) / 360) * 8/13 +

((500 - 300) / 500) * 4/13 + ((1600 - 600) / 1600) * 1/13 = 0.5814 or 58.14%

Break even in dollars = 300000 / 0.5814

Break even in dollars = $515995.872

If there is some discrepancy in the final answer, it will be due to the rounding off of the weighted average contribution margin ratio

3 0

3 years ago

Planes frequently push back from the gate on time but then wait 2 feet from the gate until it is time to queue up for takeoff. T

ira [324]

Answer:

b. A performance metric that measures timeliness of the flight, where a flight is considered "on time" as long as the flight is boarded and away from the gate by the scheduled departure time

Explanation:

We are told that airplanes make a mock depart by exiting the boarding gates, but they stay on the runway for long periods of time. This is due to the fact that airlines measure which planes are on time based on the moment that they left the boarding gate, not when they actually lift into the air. it happened to me once and it was extremely unpleasant to just sit without moving for more than one hour. I doubt any passenger likes these type of situations.

4 0

3 years ago