which of the following is an example of an implicit cost? a) the wages bob pays...
Homework Answers
c is correct
the salary bob could earn as a. sccountant instead of a restaurant owner (the opportinity cost of the owners time)
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which of the following is an example of an implicit cost?
a) the wages bob pays...
which of the following would be an example of an implicit cost? Which of the following...
which of the following would be an example of an implicit
cost?
Which of the following would be an example of an implicit cost? (i)forgone investment opportunities (ii)wages of workers (iii)raw materials costs a) (ii) and (iii) only b) (ii) only c) (i) and (iii) only COM O d) (i) only he
osts of Production: Differentiating Explicit & Implicit Costs Bob's Bed & Breakfast (15 marks) Bob recently...
osts of Production: Differentiating Explicit & Implicit Costs Bob's Bed & Breakfast (15 marks) Bob recently quit a job that paid him $2,500 per month in order to buy a bed and breakfast house in a remote corner of Vancouver Island. The motivation for his life style change came from a surprise inheritance from his long lost uncle who he had never met. His uncle, feeling guilty for never sending "birthday money to his sister's son, had left Bob money...
Zeb, age 66, is an officer of Blue Company, which provides him with the following nondiscriminatory...
Zeb, age 66, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe benefits in 2020: • Hospitalization insurance premiums for Zeb and his dependents. The cost of the coverage for Zeb is $2,350 per year, and the additional cost for his dependents is $3,600 per year. The plan has a $2,000 deductible, but his employer contributed $1,500 to Zeb's Health Savings Account (HSA). Zeb withdrew only $500 from the HSA, and the account earned $55...
Problem 5-37 (LO. 2) Rex, age 55, is an officer of Blue Company, which provides him...
Problem 5-37 (LO. 2) Rex, age 55, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe benefits in 2020: • Hospitalization insurance premiums for Rex and his dependents. The cost of the coverage for Rex is $2,900 per year, and the additional cost for his dependents is $3,800 per year. The plan has a $2,000 deductible, but his employer contributed $1,500 to Rex's Health Savings Account (HSA). Rex withdrew only $800 from the HSA, and...
Dow, 42, is a manager for Winter Company. In addition to his $82,000 salary, he receives...
Dow, 42, is a manager for Winter Company. In addition to his $82,000 salary, he receives the following benefits from Winter during the current year: . Winter pays all its employees' health and accident insurance. Premiums paid by Winter for Dow's health insurance are $1,200. Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $82,000 in coverage are $820. (See Table 4- 1 IRS Premium Table above) Winter has a flexible...
Which of the following is an example of something that economists would consider a cost but...
Which of the following is an example of something that economists would consider a cost but accountants would not? O A. the cost of advertising B. the interest income foregone by the firm's owner because the owner invested funds into the firm O C. the salary that the firm actually pays to the firm's owner O D. the cost of materials and supplies purchased by a firm
الالالالالالالالا Doug owns and runs an artisan bakery. Below are some of the details about his business's e...
الالالالالالالالا Doug owns and runs an artisan bakery. Below are some of the details about his business's expenditures. For each item indicate the type of cost incurred: • He has 2 assistants and he pays each of them $2,500/month. • To run the business he quit another job which paid him $5,200/month. To save on business expenses he does not earn any salary at his bakery. • He spends $3,000/month on ingredients and other supplies. • He owns the truck...
Econ help Doug owns and runs an artisan bakery. Below are some of the details about...
Econ help
Doug owns and runs an artisan bakery. Below are some of the details about his business's expenditures. For each item indicate the type of cost incurred • He has 2 assistants and he pays each of them $2,500/month. • To run the business he quit another job which paid him $5,200/month. To save on business expenses he does not earn any salary at his bakery. • He spends $3,000/month on ingredients and other supplies. • He owns the...
1. Ralph owns a small pizza restaurant, where he works full-time in the kitchen. His total revenue last year was $100,000, and his rent was $3,000 per month. He pays his one employee $2,000 per month,...
1. Ralph owns a small pizza restaurant, where he works full-time in the kitchen. His total revenue last year was $100,000, and his rent was $3,000 per month. He pays his one employee $2,000 per month, and the cost of ingredients and overhead averages $500 per month. Ralph could earn $35,000 per year as the manager of a competing pizza restaurant nearby. His total explicit costs for the year were a. $24,000. b. $66,000. c. $72,000. d. $60,000. e. $6,000....
Nontaxable Fringe Benefits (LO.4) Dow, 42, is a manager for Winter Company. In addition to his...
Nontaxable Fringe Benefits (LO.4) Dow, 42, is a manager for Winter Company. In addition to his 2019 $81,000 salary, he receives the following benefits from Winter during the current year: • Winter pays all its employees' health and accident insurance Premium paid by Winter for Dow's health insurance are $1,300 • Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $81,000 in coverage are $810. • Winter has a flexible benefits...
which of the following would be an example of an implicit
cost?
Which of the following would be an example of an implicit cost? (i)forgone investment opportunities (ii)wages of workers (iii)raw materials costs a) (ii) and (iii) only b) (ii) only c) (i) and (iii) only COM O d) (i) only he
osts of Production: Differentiating Explicit & Implicit Costs Bob's Bed & Breakfast (15 marks) Bob recently quit a job that paid him $2,500 per month in order to buy a bed and breakfast house in a remote corner of Vancouver Island. The motivation for his life style change came from a surprise inheritance from his long lost uncle who he had never met. His uncle, feeling guilty for never sending "birthday money to his sister's son, had left Bob money...
Zeb, age 66, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe benefits in 2020: • Hospitalization insurance premiums for Zeb and his dependents. The cost of the coverage for Zeb is $2,350 per year, and the additional cost for his dependents is $3,600 per year. The plan has a $2,000 deductible, but his employer contributed $1,500 to Zeb's Health Savings Account (HSA). Zeb withdrew only $500 from the HSA, and the account earned $55...
Problem 5-37 (LO. 2) Rex, age 55, is an officer of Blue Company, which provides him with the following nondiscriminatory fringe benefits in 2020: • Hospitalization insurance premiums for Rex and his dependents. The cost of the coverage for Rex is $2,900 per year, and the additional cost for his dependents is $3,800 per year. The plan has a $2,000 deductible, but his employer contributed $1,500 to Rex's Health Savings Account (HSA). Rex withdrew only $800 from the HSA, and...
Dow, 42, is a manager for Winter Company. In addition to his $82,000 salary, he receives the following benefits from Winter during the current year: . Winter pays all its employees' health and accident insurance. Premiums paid by Winter for Dow's health insurance are $1,200. Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $82,000 in coverage are $820. (See Table 4- 1 IRS Premium Table above) Winter has a flexible...
Which of the following is an example of something that economists would consider a cost but accountants would not? O A. the cost of advertising B. the interest income foregone by the firm's owner because the owner invested funds into the firm O C. the salary that the firm actually pays to the firm's owner O D. the cost of materials and supplies purchased by a firm
الالالالالالالالا Doug owns and runs an artisan bakery. Below are some of the details about his business's expenditures. For each item indicate the type of cost incurred: • He has 2 assistants and he pays each of them $2,500/month. • To run the business he quit another job which paid him $5,200/month. To save on business expenses he does not earn any salary at his bakery. • He spends $3,000/month on ingredients and other supplies. • He owns the truck...
Econ help
Doug owns and runs an artisan bakery. Below are some of the details about his business's expenditures. For each item indicate the type of cost incurred • He has 2 assistants and he pays each of them $2,500/month. • To run the business he quit another job which paid him $5,200/month. To save on business expenses he does not earn any salary at his bakery. • He spends $3,000/month on ingredients and other supplies. • He owns the...
Nontaxable Fringe Benefits (LO.4) Dow, 42, is a manager for Winter Company. In addition to his 2019 $81,000 salary, he receives the following benefits from Winter during the current year: • Winter pays all its employees' health and accident insurance Premium paid by Winter for Dow's health insurance are $1,300 • Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $81,000 in coverage are $810. • Winter has a flexible benefits...
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