Profits Katherine Carpenter Liberty University Econ 213 Gwartney states that profits are; “An excess of sales revenue relative to the opportunity cost of production. The cost component includes the opportunity cost of all resources‚ including those owned by the firm. Therefore‚ profit accrues only when the value of the good produced is greater than the value of the resources used for its production.” An example of a profit would be bakery offers a cheesecake for $20 and the total cost to make
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had the objective to find hidden profits and losses contained in their current accounting system. The old system did not fully disclose how their costs were applied to the sales accounts. The goals are very sensible as they will allow them to move forward with the proper information. 2. Why did Ridderstråle feel that the previous cost system was inadequate for the new strategy? The new strategy/system was needed “to promote high-margin products to high-profit customers.” The old system didn’t
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Assignment 2 (20 points) Assignment 2: Costs and Profit Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save your
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Capital Structure and Profit Capital Structure Definition A unite of a company’s long-term debt‚ specific short-term debt‚ common equity and preferred equity. The capital structure is how a firm finances its overall operations and growth by using different sources of funds. Debt comes in the form of bond issues or long-term notes payable‚ whereas equity is classified as common stock‚ preferred stock or retained earnings. Also‚ Short-term debt such as working capital requirements is considered
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Profit Maximization model helps to predict the price-output behavior of a firm under changing market conditions like tax rates‚ wages and salaries‚ bonus‚ the degree of availability of resources‚ technology‚ fashions‚ tastes and preferences of consumers etc. It is a very simple and unambiguous model. It is the single most ideal model that can explain the normal behavior of a firm. It is often argued that no other alternative hypothesis can explain and predict the behavior of business firms better
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CHapter 16 THE BEHAVIOR OF COSTS Changes from the Twelfth Edition All changes to Chapter 16 were minor. Approach We have retained our approach of putting all C-V-P topics in a single chapter because many schools’ marketing and management accounting core courses start simultaneously‚ and marketing likes to have break-even analysis covered early in the management accounting course. Also‚ if there are students in the course with work experience or‚ in the case of MBA courses‚ with some
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Truman Decision President Harry S. Truman decision to drop atomic bombs on Japan is perhaps the most controversial act of policy in United States history. One of the many different reasons given for the use of this weapon was the shock effect it would produce in the Japanese foreign policy circle. While the shock of the Japanese will be discussed later‚ it is important to note that it had a similar effect on the west. This shock effect has caused countless authors to speculate as to the motivation
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Walker‚ Shiv‚ Genoa are the three main characters in the book called The Unsinkable Walker Bean. Walker. Walker is trying to bring a magical skull back and if looked at the skull or opened the bag that contained the skull would be very sick. Shiv is a friend of Genoa and they are on the same ship Shiv finds Walker as a stowaway and the people of Shiv’s ship don’t know about Walker. Genoa is a tough girl that also doesn’t know about Walker until later in the book and she is friends with Shiv. The
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Alice Walker Karin Leiva November 6‚ 2012 Lisa Evans English 9 Leiva 1 Alice Malsenior Walker was born on February 9‚ 1944 in Eatonton‚ Georgia. She is an American author‚ poet‚ and activist. She has written both fiction and essays about gender and race. Her writing mostly focuses on the role of women of color in their culture and history. Alice Walker actually expresses’ her feeling in any of her works. She usually reflects on herself and her feelings
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Rebecca Walker Rebecca Walker is a writer‚ philanthropist‚ feminist‚ and mother. She is the daughter of Alice Walker‚ who was also a famous feminist and writer. Growing up with a mother who was an active radical feminist heavily influenced her ideologies‚ although she states in her autobiography that she disagrees with many of Alice Walker’s more radical views. She has worked as a consultant on cultural diversity and gender roles for businesses like Sony‚ Microsoft‚ and JP Morgan.
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