I really need the Annual Total Revenue, Explicit Costs, Total Yearly Explicit Costs, Listed Implicit Costs,...
I really need the Annual Total Revenue, Explicit Costs, Total Yearly Explicit Costs, Listed Implicit Costs, Total Yearly Implicit Costs, Yearly Accounting Profits, and Yearly Economic Profits. Clear answers to these specific things would be super helpful!! Thanks.
A business entrepreneur has recently leased a small herbicide production factory. The production facility rent costs him $180 per day. In addition, he must pay $85 for the lease on conveyor line, $48 for maintenance costs, $76 for utilities, $52 for interest on the loans used to maintain current operations, $64 for business insurance, $35 for property taxes, and those daily costs must be paid regardless whether the factory is operating or not. There are two major components required to produce a single unit of output, i.e. a large reservoir and the chemical solution, which cost $16 and $14 per unit respectively. Business owner cannot maintain production process by himself, so he needs to hire workers to operate conveyor line and keep production process intact. Prevailing hourly market wage for the type of workers needed for this job is $20 and a typical workday lasts 8 hours. Based on the above information, calculate the firm’s yearly accounting and economic profits at daily output rate of 135 units, which requires 7.5 units of labor to produce, given constant market price of $48 throughout the year, the fact that the firm’s owner fully paid off the conveyor line at the end of previous year and the fact that the firm was also relieved by the local government from paying property taxes during next year. In addition, assume that the firm carries $180,000 daily inventory, the annual market interest rate is 5% per year and there are 300 workdays in a year. Also known is the fact that business owner was a former executive at Monsanto, where his salary with the additional bonuses was $278,000 per year. This is all of the information I have been given to answer the following questions.
Annual Total Revenue =
Daily Explicit Costs =
Fixed Costs (FC) =
Labor Costs (L) =
Material Costs (M) =
Variable Costs (VC) =
Total Costs (TC) =
Total Yearly Explicit Costs =
Implicit Costs (list them) =
Total Yearly Implicit Costs =
Yearly Accounting Profits =
Yearly Economic Profits =
Homework Answers
Add Answer to:
I really need the Annual Total Revenue, Explicit Costs, Total
Yearly Explicit Costs, Listed Implicit Costs,...
$ 27,000 Total (gross) revenues per month less explicit costs: Cost of merchandise sold Wages to...
$ 27,000 Total (gross) revenues per month less explicit costs: Cost of merchandise sold Wages to cashier, stock, and delivery help Rent and utilities Taxes Total explicit costs Accounting profit (revenue minus explicit costs) less implicit costs: Wages of owner-manager, 300 hours @ $10 per hour Return on inventory investment, 10% per year on $120,000 Total implicit costs Economic profit (revenue minus all costs) $ 17,000 2,500 800 700 $ 21,000 $ 6,000 $ 3,000 1,000 $ 4,000 $ 2,000...
Use the information in the table below for the Question. Explicit and Implicit). Total revenue: 2000000...
Use the information in the table below for the Question. Explicit and Implicit). Total revenue: 2000000 Wages and Salaries: 1000000 Materials: 600000 Interest: 50000 Other payments: 100000 Foregone Salary: 200000 Foregone Rent: 20000 Foregone Interest: 10000 It gives information for a new Computer company Compustar--It gives its Revenues and its costs (Explicit and Implicit). What are Compustar's Total Explicit Costs $ ? (NO UNITS) What are Compustar's Total Implicit Costs $ ? (NO UNITS) What are Compustar's Economic Profits $ ? (NO UNITS)...
PLEASE ANSWER BOTH QUESTIONS 5) Suppose that a business incurred implicit costs of $200,000 and explicit...
PLEASE ANSWER BOTH
QUESTIONS
5) Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $400 per unit, its accounting profits were a) S100,000 and its economic profits were zero. b) S600,000 and its economic profits were $400,000. c) S100,000 and its economic profits were $100,000. d) zero and its economic loss was $200,000. Suppose that a business incurred implicit costs...
Please help with these questions, Question 21 0.16 pts One difference between implicit costs and explicit...
Please help with these questions,
Question 21 0.16 pts One difference between implicit costs and explicit costs is that implicit costs are included in economic profits, whereas explicit costs are not. explicit costs are included in economic profits, whereas implicit costs are not. O implicit costs are included in accounting profits, whereas explicit costs are not. explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction. explicit costs are included in accounting profits, whereas implicit costs are not....
Suppose that a business had implicit costs of $500 000 and had explicit costs of $5...
Suppose that a business had implicit costs of $500 000 and had explicit costs of $5 million in a specific year. If in that year the firm sold 100 000 units of its output at $50 per unit, its accounting: O profits were $100 000 and economic profits were zero losses were $500 000 and its economic losses were zero O profits were $500 000 and its economic profits were $1 million O profits were zero and its economic profits...
1. The Accounting cost of a good includes the [ Select ] ["monetary value", "implicit costs",...
1.
The Accounting cost of a good includes the [ Select ]
["monetary value", "implicit costs", "Explicit cost", "total
costs"]
The economic cost of a good includes the [ Select ]
["nothing else", "Implicit costs", "nothing", "total costs", "total
cost", "Explicit costs", "value", "total value"](as above)
plus the[ Select ] ["implicit value", "total costs",
"nothing else", "Implicit costs"].
2.
The realization of economic profits or economic losses sends a
strong signal to the firm regarding its production decisions....
A firm's total revenue equals $800. Its explicit costs equal $300 and its implicit costs equal...
A firm's total revenue equals $800. Its explicit costs equal $300 and its implicit costs equal $400. The firm's economic profit equals __________ and its accounting profit equals __________. $100; 500 -$100; $200 $400; -$300 $1,200; $1,500 $400; $100
QUESTION 13 costs. Accounting profits are equal to total revenues minus Implicit Explicit Explicit and Implicit...
QUESTION 13 costs. Accounting profits are equal to total revenues minus Implicit Explicit Explicit and Implicit Total QUESTION 14 The equilibrium price and quantity of a good are found where the supply and demand curves intersect. True False QUESTION 16 If price elasticity of demand is less than 1, it is Elastic Unit Elastic Inelastic Perfectly Elastic QUESTION 17 Perfectly competitive firms set the price at the point where they can maximize their profits. True False QUESTION 18 What is...
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...
If an accountant were to calculate total cost, the accountant would be sure to include only...
If an accountant were to calculate total cost, the accountant would be sure to include only implicit costs. Oinclude only explicit costs include both implicit and explicit costs include neither implicit nor explicit costs. D | Question 5 A business pays incom taxes on O its economic profht. O its accounting proft O its marginal revenue. its total revenue. D Question 6 The choices regarding future production for a business owner is most influenced by her O economic costs. O...
$ 27,000 Total (gross) revenues per month less explicit costs: Cost of merchandise sold Wages to cashier, stock, and delivery help Rent and utilities Taxes Total explicit costs Accounting profit (revenue minus explicit costs) less implicit costs: Wages of owner-manager, 300 hours @ $10 per hour Return on inventory investment, 10% per year on $120,000 Total implicit costs Economic profit (revenue minus all costs) $ 17,000 2,500 800 700 $ 21,000 $ 6,000 $ 3,000 1,000 $ 4,000 $ 2,000...
PLEASE ANSWER BOTH
QUESTIONS
5) Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $400 per unit, its accounting profits were a) S100,000 and its economic profits were zero. b) S600,000 and its economic profits were $400,000. c) S100,000 and its economic profits were $100,000. d) zero and its economic loss was $200,000. Suppose that a business incurred implicit costs...
Please help with these questions,
Question 21 0.16 pts One difference between implicit costs and explicit costs is that implicit costs are included in economic profits, whereas explicit costs are not. explicit costs are included in economic profits, whereas implicit costs are not. O implicit costs are included in accounting profits, whereas explicit costs are not. explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction. explicit costs are included in accounting profits, whereas implicit costs are not....
Suppose that a business had implicit costs of $500 000 and had explicit costs of $5 million in a specific year. If in that year the firm sold 100 000 units of its output at $50 per unit, its accounting: O profits were $100 000 and economic profits were zero losses were $500 000 and its economic losses were zero O profits were $500 000 and its economic profits were $1 million O profits were zero and its economic profits...
1.
The Accounting cost of a good includes the [ Select ]
["monetary value", "implicit costs", "Explicit cost", "total
costs"]
The economic cost of a good includes the [ Select ]
["nothing else", "Implicit costs", "nothing", "total costs", "total
cost", "Explicit costs", "value", "total value"](as above)
plus the[ Select ] ["implicit value", "total costs",
"nothing else", "Implicit costs"].
2.
The realization of economic profits or economic losses sends a
strong signal to the firm regarding its production decisions....
QUESTION 13 costs. Accounting profits are equal to total revenues minus Implicit Explicit Explicit and Implicit Total QUESTION 14 The equilibrium price and quantity of a good are found where the supply and demand curves intersect. True False QUESTION 16 If price elasticity of demand is less than 1, it is Elastic Unit Elastic Inelastic Perfectly Elastic QUESTION 17 Perfectly competitive firms set the price at the point where they can maximize their profits. True False QUESTION 18 What is...
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...
If an accountant were to calculate total cost, the accountant would be sure to include only implicit costs. Oinclude only explicit costs include both implicit and explicit costs include neither implicit nor explicit costs. D | Question 5 A business pays incom taxes on O its economic profht. O its accounting proft O its marginal revenue. its total revenue. D Question 6 The choices regarding future production for a business owner is most influenced by her O economic costs. O...
Most questions answered within 3 hours.
-
A 60-Hz, 765-kV, three-phase overhead transmission line has two
ACSR 900 kcmil 54/3 conductors per phase....
asked 1 second ago -
The work done by the spring's restoring force
on the free end of a spring while...
asked 1 minute ago -
Reynold company is considering an investment of $130,000 in
new equipment. The new equipment is expected...
asked 17 minutes ago -
If a company’s stock price (P0) goes up, and nothing else
changes, Ke (the required rate...
asked 4 minutes ago -
As a manager in today society, how can I use Harry Truman's
leadership skills and attributes...
asked 6 minutes ago -
The decomposition of SO2Cl2 is first order
and has a rate constant of + 2.90 x...
asked 6 minutes ago -
Why is protecting equipment an important element of this
concept, and how are some of the...
asked 16 minutes ago -
An asset used in a four-year project falls in the five-year
MACRS class (MACRS Table) for...
asked 17 minutes ago -
Break-even time. Hampton Corporation’s research
and development department is presenting a proposal for new product
research....
asked 21 minutes ago -
At Lake Itasca in Minnesota, the Mississippi river is only 25.0
feet wide. If you are...
asked 22 minutes ago -
A 2.0 μF parallel-plate air-filled capacitor is connected
across a 10 V battery.
(a) Determine the...
asked 32 minutes ago -
Write in Python This program:
1. Correct the compute_cells_state function which receives as
parameter an array...
asked 22 minutes ago