accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
Premium Economics of production Variable cost Costs
Heart Rate Report The Circulatory system is an organ system that transports things around the body that are needed by cells. For example: Nutrients‚ such as: Oxygen‚ Food and Water. When Blood circulates around the body‚ it leaves the left ventricle of the Heart and travels to the Aorta (The largest artery in the Human body). The blood that leaves the Aorta is rich of oxygen then travels around the body in arteries‚ and to the organs. When the deoxygenated blood travels back to the lungs through
Premium Blood Heart
April 16‚ 2013 Bio 112L Lab Report Bones and the Digestive‚ Respiratory‚ Circulatory‚ and Nervous Systems Introduction: Bones are what our skeletal systems are made up of. There are 206 bones in the human body of the adult skeleton. The adult skeleton is broken up in two divisions: the axial skeleton‚ and the appendicular skeleton. The axil skeleton is made up of 80 bones‚ and the appendicular skeleton is made up of 126 bones. As for the different systems of the body‚ we dissected a fetal
Premium Bone Skeletal system Heart
Impact of Cost-benefit analysis on industry decision making: Transportation Cost-benefit analysis (CBA)‚ in essence‚ is a tool for decision making. It can be applied to almost any kind of decision in any kind of field. In its most pure form‚ a CBA will aggregate the pros and cons (positive and negative effects) of a proposal‚ and‚ if the pros (benefits) outweigh the cons (costs)‚ the proposal is viable. Usually‚ the analyst will assign monetary values to each of the costs and benefits‚ hence making
Premium Cost-benefit analysis Cost Costs
Discuss the balance of scientific benefit versus ethical costs in psychology. It is argued that any psychological research should be done on the basis of a cost-benefit approach: determining whether the benefits for society the study may generate outweigh the ethical costs that participants in the research may experience. Selye’s GAS theory research is an example of a controversial study. Selye aimed to determine the consequences on the physical body when we are put under stress in our everyday
Free Ethics Psychology Morality
approach in the transplant community. There is an economic analysis that came up showing the effectiveness of successful of transplantation and emphasizing the imperative need for organs. However‚ there is a question that should be addressed; does a cost-benefit analysis ethically justify vending organs? Actually‚ there are a lot of social and ethical consequences that should be taken into consideration when answering this question. There are two main reasons that supporters of organ sales commonly use
Premium Organ transplant Organ Organ donation
- The benefits and costs of using marketing approach to doing business in Vietnam Successful organizations realize that companies wanting to exist and do business profitably by providing customers with the right product‚ in the right time‚ at the right place with a good promotion is very importance Benefits: Goals of marketing is to stimulate customer‚ maximize consumer by meeting customers’ needs and make them feel pleased with products ‚ after-sales services and following benefits of company
Premium Marketing
STEERING SYSTEM A Summer Training Project Report on steering system of a car Sandeep Kumar Mishra B.tech (Mechanical 2nd year) JSS ACADEMY OF TECHNICAL EDUCATION‚ NOIDA Training Guide – Mr Jagrit Sharma Content List Title 1. 2. 3. 4. 5. 6. 7. 8. 9. Company at a Glance Introduction Caster Camber Toe Steering axis inclination Scrub radius Steering dynamics Types of steering system …………………………………………………. …………………………………………………. …………………………………………………. ……………………………………………........ ………………………………………………
Premium Steering
not sure about the difference between cost accounting and a cost accounting system. Explain the difference to Joe. (b) What is an important feature of a cost accounting system? 2. (a) Distinguish between the two types of cost accounting systems. (b) May a company use both types of cost accounting systems? 3. What type of industry is likely to use a job order cost system? Give some examples. 4. What type of industry is likely to use a process cost system? Give some examples. 5. Your roommate
Premium Manufacturing Cost accounting
arithmetic error in computation‚ delay in payment‚ underpayment or overpayment and so on. In this project work‚ automated system shall be developed which shall eliminate all the problems associated with the manual process. The most common method of keeping the financial records of a company was manually. A bookkeeper kept the journals‚ the accounts receivable‚ the accounts payable‚ payroll and the ledgers in his best possible penmanship. In later years‚ an accounting machine‚ which was capable of performing
Premium Wage SQL Database