Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
Premium Economics Costs Microeconomics
warehousing and shipping cost is not really correct. The current method is direct method which ignores In term of Shipping and Warehousing cost‚ low volume products should incur this cost instead of both high volume and low volume products. Because‚ high volume products are deliveried directly to customer so it does not incur the cost of shipping. The low volume products which are sent to distribution center incurred the cost of shipping and warehousing. However‚ the cost of shipping and warehousing
Premium Value added
Associate Program Material Racial Diversity: Historical Worksheet Answer the following questions in 100 to 250 words each. Provide citations for all the sources you use. • Throughout most of U.S. history‚ in most locations‚ what race has been in the majority? What is the common ancestral background of most members of this group? The most common race that was in the U.S History was Caucasian; white people were like gods in our history and then pretty much ran the world. Rosa Parks’s
Premium Black people United States Race
Chapter 8 The Cost of Capital 236 CHAPTER 8—THE COST OF CAPITAL TRUE/FALSE 1. Capital refers to items on the right-hand side of a firm’s balance sheet. 2. The component costs of capital are market-determined variables in as much as they are based on investors’ required returns. 3. The cost of debt is equal to one minus the marginal tax rate multiplied by the coupon rate on outstanding debt. 4. The cost of issuing preferred stock by a corporation must be adjusted to an after-tax
Premium Dividend yield Net present value Weighted average cost of capital
Street Journal. Cost Management and Strategy – refer to your assigned questions and problems Cost Drivers and Basic Cost Concepts -- What is a cost? Define cost pools. What is a cost object? cost assignment? Contrast a direct cost with an indirect cost. Define cost allocation. What is an allocation base? Contrast cost assignment with cost allocation. What is a direct material? Direct labor? Indirect material? Indirect labor? factory overhead? What are conversion costs? Prime costs? What are the
Premium Management accounting Costs Variable cost
4: Costs and Cost Minimization Multiple Choice 1. Suppose you are a star basketball player at a major university in your sophomore year. You are sought after by several NBA teams. Which of the following choices best characterizes your opportunity cost if you choose to drop out of college and enter the NBA? a) The value of your college scholarship that you have given up. b) The skills that two more years of playing at your college would have given you along with their additional value over
Premium Costs Economics Microeconomics
Instructions: CheckPoint: Historical Example of Labor Supply and Demand 250- to 300-word response addressing one of the following historical events in terms of labor supply and demand: the Great Depression‚ the Luddite Revolt‚ the Black Death‚ or the technology boom of the 1990s. Include the following: o What was the impact on the supply and demand of labor on one sector of the labor market? o Explain the factors that affected labor demand and labor supply in the chosen historical example.
Premium Employment Supply and demand Economics
We already know that following are the important cost concepts related to the production process of a firm: • Fixed Cost • Varibale Cost • Average Cost • Marginal Cost please refer to following page Introduction to Cost Concepts to understand various cost concepts in detail. Here we will briefly state again the meaning of above stated cost concepts for better understanding of the module on short run cost analysis. Fixed Cost is that cost which does not change (that is either goes up or
Premium Marginal cost Costs Economics
certainly teachers and students have struggled with the issue of gradingthe former often using long held but often misguided beliefs about the purpose and method of grading and the latter often disgruntled with the perception that the process used was not fair. I have chosen this topic because grading is a very powerful tool for teachers‚ students‚ and entire school systems. Teachers use grades for many reasons: assessing students’ comprehension of skills and information‚ holding students accountable‚
Premium Scientific method Research Management
3.6: Examine the different values placed on art works Values in art: Making a judgement on whether art has value is entirely subjective and can only be determined on whether someone holds value to that piece‚ or acknowledging that someone holds certain values to that piece. Art is valuable in itself‚ and independent of what people enjoy‚ want‚ or what is good for them. This is important as there are a number of values that an art work can hold and that these values can appeal to a wide number
Premium Andy Warhol Arts Modernism