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A: 1. Implicit cost is the cost that has already occurred in the past. However, these are not direct…
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A: Variable cost can be defined as the cost which depends on the level of output.
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A: Here, the mention question example given shows the correct formula. The predetermined overhead rate…
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Q: 3) If AVC = $3 when quantity is 10 then what is the total variable %3D costs?
A: Variable cost varies with the level of production.
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A: Weighted index for 2020 (in terms of 2000 indices) can be calculated as follows.
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Q: .Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a…
A: Accounting profit can be calculated as follows:
Q: Explain Implicit and Explicit cost with the help of suitable example?
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A: All answers given below,
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A: Answer to the question is as follows :
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- Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?1) Classify each of the following cost items as mostly fixed or variable:a. Raw materialsd. Administrative salaries g. Direct laborj. Rentb. Depreciatione. Insurance (building & equipment) h. Suppliesk. Payroll Taxesc. Clerical salariesf. Property taxesi. Sales commissionsl. Interest on borrowed moneyAccording to Accountants cost of production consist of both explicit and implicit cost ----a) Yes.b) Not surec) Falsed) none of the mentioned
- the right answer is A and C and i wonder why. pls explain by details, thx!What type of cost is included in economic costs, but not included in accounting costs?a. Explicit costsb. Negative costsc. Normal profitd. Marginal coste. Unit costsDuring the month of July, your company makes $12,000 in total sales. Supplies cost you $3,000, and you pay your employees $4,000. What are your total accounting profits? a. $4,000 b. $5,000 c. $12,000 d. $7,000
- Please no written by hand solutions Does accounting cost exclude implicit cost, if not what does it exclude?EXAMPLE 1.2 Consider the following data of a company for the year 1997:Sales = $ 1,20,000Fixed cost = $ 25,000Variable cost = $ 45,000Find the following:(a) ContributionAccounting profit is total revenue less by Select one: a) Implicit costs only b) Implicit and Explicit costs c) None of the answers are correct d) Oppurtunity Costs e) Explicit cost only
- *need correct answer for this practice question plz1. What are the difference between Direct Method Cash flow withthat of indirect method cash flow, apply them in a given exampleInventory Costing Methods—Periodic MethodThe Luann Company uses the periodic inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ $9 per unit 10 Purchased 50 units @ $11 per unit 15 Sold 60 units 26 Purchased 25 units @ $13 per unit Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Note: Round your cost per unit to three decimal places, if needed. Then round your final answers to the nearest dollar. A. First-in, First-out: Ending Inventory Answer Cost of Goods Sold: Answer B. Last-in, first-out: Ending Inventory Answer Cost of Goods Sold: Answer C. Weighted-average cost: Ending Inventory Answer Cost of Goods Sold Answer
