Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
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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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Strategic Cost Management ACCT90009 Seminar 1 Seminar 1 Subject Administration Introduction to SCM oduc o o SC Administration • Subject Coordinator Dr. David Huelsbeck Email: david.huelsbeck@unimelb.edu.au Room: 08.028‚ The Spot Phone: +61 3 9035 6256 Consultation Hours: Monday 4:15pm – 6:15pm • Seminars: Tuesday: 2.15 pm – 5.15 pm‚ FBE ‐ Theatre 211 (Theatre 2) Thursday: 6.15 pm – 9.15 pm‚ Alan Gilbert ‐ Theatre 2 Teaching Format and Resources • Seminar Format 3 hour seminar
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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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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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Densie Keaton Social Networking Advantages and Disadvantages HLT 610 Grand Canyon University Finding the advantages and disadvantages of social networking for career advancement was to say the least interesting. The employment advancement with Social media in education can teach students marketing skills early on in the process. When using sites like Facebook‚ twitter‚ and Instagram individuals are able to send information about themselves out to millions of people. If that same person
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and Currency Requirements for the Fixed-Wing VFR Pilot Manuel Gomez Embry-Riddle Aeronautical University ASCI 691 Graduate Capstone Course Submitted to the Worldwide Campus in Partial Fulfillment of the Requirements of the Degree of Master of Aeronautical Science March‚ 2013 Abstract The current FAA mandated Night Vision Goggle (NVG) training and currency requirements will be evaluated to determine their suitability when applied to the fixed-wing VFR rated pilot. A comprehensive
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ANSWERS TO QUESTIONS FOR CHAPTER 1 (Questions are in bold print followed by answers.) 2. What is meant by a mortgage-backed security? A mortgage-backed security is a security backed by one or more mortgage loans. Like a bond that is callable‚ a mortgage-backed security allows the investor to grant the borrower an option. 4. What is the cash flow of a 10-year bond that pays coupon interest semiannually‚ has a coupon rate of 7%‚ and has a par value of $100‚000? The principal or par
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Fixed Guards – Best Practice Depends on Machine/Equipment best method of machine guard is used. Fixed guards can be isolated to three sections; 1. Static Interlocking 2. Locked Guards and Gates 3. Adjustable Fixed Guards 1. A static fixed guard is best practice depending on the scenario. It is fastened securely to the machine either by welding or by fasteners that cannot be detached without the use of tools. Guards should be constructed and arranged so it is impossible for anyone
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Fixed Morality in a Fluctuating World Sonora Roman Arizona Christian University Morality today is becoming increasingly defined by individual experience and preference. It has more to do with what is right for one person rather than for humanity as a whole. Morality cannot be purely relative to culture and upbringing because there are standards of morality that are consistent worldwide and a person’s background does not change those constants. Despite the fact that morality is becoming more
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