Homework Answers
Accounting profit = total revenue - explicit costs = 80000-(16000+4000+3000) = 57000
Economic profit = Accounting profit - implicit costs = 57000-68000 = -11000
Add Answer to:
Reggie owns and operates a cheese shop in the village of Somerset. While Reggie has a...
Reggie owns and operates a cheese shop in the village of Somerset. While Reggie has a...
Reggie owns and operates a cheese shop in the village of Somerset. While Reggie has a degree in mechanical engineering and could easily go to work for his brother's company earning $72,000/year, his true passion is for cheese. The table displays Reggie's expenses from 2018. Please use the information provided to answer the questions. Revenue from 2018 $85,000 Rent $17,000 Equipment $5,000 Supplies $3,000 What is Reggie's accounting profit? What is Reggie's economic profit? $
Reggie owns and operates a cheese shop in the village of Somerset. Although Reggie has a...
Reggie owns and operates a cheese shop in the village of Somerset. Although Reggie has a degree in mechanical engineering and could easily go to work for his brother's company earning $68000 a year, his true passion is for cheese. Consider the list of Reggie's revenue and expenses from last year. Please use the information provided to answer the questions. Revenue from 2010 Rent Equipment Supplies $80000 $16000 $4000 $3000 What is Reggie's accounting profit? What is Reggie's economic profit?...
C) Richard owns and operates an Electronics and Computer shop in Los Angeles. While Richard has...
C) Richard owns and operates an Electronics and Computer shop in Los Angeles. While Richard has a Mechanical Engineering degree and could work for CISCO Systems Corp. earning $76,000 a year, his true passion is managing his own shop. Below is a list of Richard's expenses for 2016. Use the following information to answer the questions: (show your work) Revenue in 2016 $105,000 Rent $20,000 Equipment Cost $5,200 Supplies $2,750 Depreciation of Assets $1,050 What is Richard's Accounting Profit? What...
Reggie owns and operates a cheese shop in the village of Somerset. While Reggie has a degree in mechanical engineering and could easily go to work for his brother's company earning $72,000/year, his true passion is for cheese. The table displays Reggie's expenses from 2018. Please use the information provided to answer the questions. Revenue from 2018 $85,000 Rent $17,000 Equipment $5,000 Supplies $3,000 What is Reggie's accounting profit? What is Reggie's economic profit? $
Reggie owns and operates a cheese shop in the village of Somerset. Although Reggie has a degree in mechanical engineering and could easily go to work for his brother's company earning $68000 a year, his true passion is for cheese. Consider the list of Reggie's revenue and expenses from last year. Please use the information provided to answer the questions. Revenue from 2010 Rent Equipment Supplies $80000 $16000 $4000 $3000 What is Reggie's accounting profit? What is Reggie's economic profit?...
C) Richard owns and operates an Electronics and Computer shop in Los Angeles. While Richard has a Mechanical Engineering degree and could work for CISCO Systems Corp. earning $76,000 a year, his true passion is managing his own shop. Below is a list of Richard's expenses for 2016. Use the following information to answer the questions: (show your work) Revenue in 2016 $105,000 Rent $20,000 Equipment Cost $5,200 Supplies $2,750 Depreciation of Assets $1,050 What is Richard's Accounting Profit? What...
Most questions answered within 3 hours.
-
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 44 minutes ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 8 minutes ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 1 hour ago -
Consider the probability that fewer than 34 out of 116 CDs will
be defective. Assume the...
asked 24 minutes ago -
4J Manufacturing Company uses a job order cost accounting system
and keeps perpetual inventory records. Prepare...
asked 13 minutes ago -
Please write code in C++
using recursive function
Write a program that computes the sequence of...
asked 11 minutes ago -
What is 345 as an unsigned decimal number? It is 34
with subscript of 5. Not...
asked 27 minutes ago -
I've been struggling with these homework questions. Any help
would be greatly appreciated
1. For the...
asked 25 minutes ago -
Read the In-Depth Integrative Case 1.2 (Pharmaceutical
Companies, Intellectual Property, and the Global AIDS Epidemic) in...
asked 25 minutes ago -
Consider a mass-spring system. The spring has a spring constant
of 2.27e+3 N/m. On the end...
asked 30 minutes ago -
People are most likely to believe their ancestors play an active
role in their lives in...
asked 1 hour ago -
A student holds a ruler by one end (x=0 where the student holds
it). The student...
asked 1 hour ago