TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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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
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already prophesied the prophecies of Haggai before his time. “According to J. Vernon McGee‚ in the study of this prophecy we will note how important it is to consider the historical book along with the prophetic books. There is a little cluster of the books that belong together; Ezra‚ Nehemiah‚ and Esther for the historical records and Haggai‚ Zechariah‚ and Malachi for the prophetic section. Haggai‚ the writer of this short book‚ is mentioned in Ezra 5:1-2 and 6:14”[2] “Also according to Samuel
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The first supreme court case that impacted fair use was Sony Corp. of America v. Universal City Studios‚ Inc.‚ 464 U.S. 417 (1984). In Sony Corp. of America‚ owners of copyrights on television programs brought infringement actions against manufacturers of home videotape recorders. The Court argued that the situations in which fair use most commonly recognized are found in the statute itself; when a work is used “for purposes such as criticism‚ comment‚ news reporting‚ teaching‚ ... scholarship‚ or
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Historical Linguistics Sound change based on Campbell (2004) Introduction: The sounds of languages tend to change overtime. The question‚ then‚ is what kinds of sound change take place? Kinds of sound change 1. Regular or sporadic 2. Conditioned or unconditioned 3. Phonemic or non-phonemic 1- Regular or sporadic In general ‘sound laws admit of no exceptions’. That is‚ a change will take place wherever the sound which undergoes the change is found in the environment that conditions
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Greensboro Historical museum On Saturday March 28‚ I go visit the Greensboro historical museum with my friends‚ and I learned a lot. At first when I heard the historical museum‚ I’m confused the name with the Civil Rights Museum‚ which I’ve been to there when I was in INTERLINK RW4 class‚ it’s also a perfect museum. When I finally been to the Greensboro historical museum‚ it’s bigger than what I thought‚ and learned more information than what I learned before. Also it’s Free! The historical museum dedicated
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Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating‚ recording‚ classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price‚ suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a financial
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products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
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Amos the Prophet The historical background A wandering people At the start of what is a series looking at some of the prophets of Israel‚ it might be helpful to do a little history which gives us a feel of the background. When I recently visited Israel and went in to the desert‚ it was interesting to note the Bedouin still living there in tents in a very primitive way. I wondered if the reaction to these roaming people was the same as the reaction in England to gypsies. Here in England the wandering
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What route was a theory of the growth of Globalization? The silk road in the 3rd century BCE What system originated on it? Our current numbering system was born on the Silk Road Most Important Invention of the last 1000 years? Printing Press In the rise of a European Middle Class how did they determine social status? By birth and amount of land owned Towns grew which attracted what? Trades people‚ bankers‚ entrepreneurs‚ artists and scholars. 9th to 13th century innovations in the middle
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