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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Rizal in Berlin‚ Germany 1 November 1886 At 1:25 P.M.‚ Rizal arrived at Berlin and boarded at the Central Hotel. 2 November 1886 Rizal wrote a letter to his friend Pastor Karl Ullmer informing the latter of his arrival at the big German capital the day before. He wrote: "Remembrances to your loving wife‚ Eta and to Friedrich." 4 November 1886 In a letter he informed Prof. Blumentritt about his meeting with Dr. A.B. Meyer last October 31 in Dresden. He was already residing at Jaeger Straesse
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Business (UKM-GSB-LHDN) Cost Classification: Government Agency PROBLEM 2-56 The Department of Natural Resources is responsible for maintaining the state’s parks and forest lands‚ stocking the lakes and rivers with fish‚ and generally overseeing the protection of the environment. Several cost incurred by the agency are listed below. For each cost‚ indicate which of the following classifications best describe the cost. More than one classification may apply to the same cost item. The Answers
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These days‚ we Geeks don’t travel anywhere without our laptops. It’s a given that we need to have them on us! How would we survive?! Thankfully‚ Seth sent in the following tips to help us keep them safe while we are on the road. Pad The Laptop: Make sure the laptop bag or carrying case you transport your laptop in provides adequate padding. As you move about the airport or shove the laptop under the seat in front of you or into the overhead storage compartment‚ the laptop can be jarred and jostled
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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Tax Treatment of Private Jet Expenses Facts: Alex Jones is a computer engineer‚ Aubrey‚ his wife‚ is an attorney. Alex is an independent contractor at ABC‚ Inc. Jones owns a Christmas tree farm as sole proprietorship in Oregon and they report the farm on their joint federal income tax return. Apart from the home in Phoenix‚ AZ‚ Jones has the other home in Honolulu‚ Hawaii‚ and cost $2 million to rebuilt it. They lease the home to operate the house as B&B. Apart from that‚ they also own a
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intricate detail‚ and golden statues of Buddha inside. My taxi driver from the night before offered to take me around the next day. I accepted because it is always nice having a guide the first time you are in a country‚ especially when it only costs $7.00. He picked me up around 11:00 a.m. the next day‚ and we spent a lot of the day cruising around Bangkok stuck in traffic seeing incredible
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COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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Is a college education worth the expense? People often ask the question is a college education worth the expense? College education is as we all know a more advanced level of education. An education that has become more and more demanded. It is frequently now mandatory for a variety of jobs. The jobs that recommend a college education are usually the jobs that have a higher pay. Rather then the jobs that are offered to people that only have a high school diploma. The higher paying jobs require the
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trip to Atlanta GA to go to games 3 and for of the Baseball playoff series between the San Francisco Giants against the Atlanta Braves. I stayed there for a total of 3 days and two nights. I spent about $180 for a hotel for two nights plus it also cost me $30 in transportation to the game via the train round trip from the hotel to the stadium plus I also spent $300 for a ticket to game 3 as well as a ticket to game 4. It was a memorable trip for me because I got to watch the Giants win the first
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