The technique used in management accounting to determine the change in profit associated with the cost or benefit of the next (or the marginal) unit is called
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- Find the value of explicit cost of the firm if the revenue generated is $8000 and the accounting profit is $5500The difference between economic profit and accounting profit is equal to: zero implicit and explicit costs. implicit and explicit revenues. implicit revenues minus implicit costs.Business-process outsourcing (BPO) is a type of outsourcing that consists of contracting operations and responsibilities of a specific business process (e.g., human resources) to a third-party service provider. Such outsourcing generally began with manufacturing firms outsourcing their supply chain but has grown into a much wider range of processes, including marketing, finance, sales, and accounting. According to a recent Forbes article, the revenue of the global outsourced services industry rose from $45 billion in 2000 to nearly $100 billion in 2012. Competition among firms in the BPO market is strong. Companies based in the United States include HP Enterprise Services, Affiliated Computer Services, and Automated Data Processing (ADP). A number of Indian companies, however, also provide worldwide BPO services, such as Infosys, Wipro, and Genpact. An article in BusinessWeek suggested that BPO can save end users anywhere from 15 to 85 percent. International BPO service providers are…
- Which of the following is most likely to be an implicit cost?*rental income foregone on assets owned by the firmsalaries paid to the firm’s board of directorstransportation cost on raw materialsinterest payments on an outstanding loan of the firm Economic profit is frequently*greater than total revenue.defined as total revenue minus total fixed cost.irrelevant to the owner of a firm who is concerned instead with accounting profits.less than accounting profit. From an economics perspective, accounting methods tend to*overstate profits and losses.overstate profits and understate losses.understate profits and overstate losses.understate profits and losses. Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Your aunt’s opportunity costs comprise*the accounting costs.the accounting costs and the implicit costs.all…Please respond to the following prompt in at least 350 words: Dean Brothers Corp. owns and operates a steel-drum manufacturing plant. Lowell Wyden, the plant superintendent, hires Best Security Patrol, Inc. (BSP), a security company, to guard the property to "deter thieves and vandals." Some BSP security guards, as Wyden knew, carried firearms. Pete Sidell, a BSP security guard, was not certified as an armed guard but nevertheless took his gun to work. While working at the Dean Brother's Plant on October 31, 2014, Sidell fired his gun at Tyrone Gaines, in the belief that Gaines was an intruder. The bullet struck and killed Gaines. Gaines' mother filed a lawsuit claiming that her son's death was the result of BSP's negligence, for which Dean Brothers Corp. was responsible. (see liability in Agency Relationships). 1) What is the plaintiff's best argument to establish that Dean Brother's Corp. is responsible for BSP's actions? 2) What is Dean Brother's Corp. best defense?Describe the behaviour of the ATC in relation to MC
- On the occasion of summer vacation, a student plans to open a milk tea shop. Before deciding to open a store, she wants to find out how profits fluctuate with fluctuations in selling prices and costs per unit of product. The selling price per cup of milk tea can range from VND 20,000.00 to VND 30,000.00 (the level of change is VND 1,000.00 each time) and the cost to make a cup of milk tea can range from VND 13,000.00 to VND 17,000.00 (the level of change is VND 500 each time). Knowing that the initial fixed cost is VND 24,000,000.00 and the number of cups of milk tea sold (Demand) depends on the selling price according to the formula: Demand = 24000 - 0.5 * Unit Price Use the two-dimensional sensitivity analysis to answer the following questions: a) What is the profit if the selling price is 23,000.00 VND and the cost per unit is 15,000.00 VND? b) How will profit change with each increase in cost of a product unit by VND 500.00 with a constant selling price of VND 25,000.00? c) What is…Symon Enterprises is an international construction company with global offices in twenty foreign markets around the world. Symon currently has over 15,000 employees around the world. The company has an excellent record as being an employer of choice. It recently was voted the number three company to work for in the world by Forbes Magazine. Symon Enterprises has become very adept at effectively handling its human resources even though there are vast differences in the various countries it services. The company attributes its HR success to the expertise of its HR directors. Symon’s practice has always been to hire human resource managers and directors from the country where they will be working. It has found this seems to give the company a competitive edge over the competition. Employee compensation, performance appraisals, and benefits vary greatly from culture to culture. Which one of the following would not be considered a challenge facing Symon Enterprises when it comes to…If the accounting profit in an economy is $42 billion and the implicit cost is $29 billion find the economic profit.