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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Observation 4 (language Development) Date of observation: 28/1/2015 Time observation started and finished: 10.30 – 10.45 Number of adults present: 5 and 1 student observer Permission obtained from: playschool supervisor Description of setting: This observation took place in a registered community pre-school‚ the school consists of two rooms‚ one main classroom with the capacity to accommodate 22 children and one smaller that accommodates 8 children‚ the smaller of the two rooms has a sand tray
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’’ Idle hands are the Devil’s playground’’ By Daniel Gonzalez Man is not made to be idle. "In the sweat of thy face shall thou eat bread" is the curse of God‚ according to the Bible. It is more a blessing than a curse. We should not be like drones but should try to procure honey from every flower. ’’ Idle hands are the Devil’s playground’’ or "Idle hands do the Devil’s work‚ Paul." (K. Vonnegut‚ _Player Piano_‚ 1952) is an old saying referring to sloth‚ one of the seven deadly sins. If your hands
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Implementing policy and procedures Instructions: Complete the following. 1. Gather feedback on your policy/procedures document. (2.8‚ 3.7‚ 5.7) a. Write down the feedback and the suggestions made. (minimum of 2) Not specific enough with the retiring of equipment Borrowing procedures was unclear b. How will you respond to each of these suggestions? Broke it down and decided one point into two to explain ropes and alloy materials as separate items. Reviewed borrowing procedures and simplified 2.
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Colorscope had a competitive advantage through its expensive proprietary computer equipment that could produce complicated print special effects. Colorscope had also been able to build strong relationships with valuable customers through the years and had a good reputation for providing high quality work in its field. Another reason why Colorscope could compete with the large printers was the high fragmentation of the pre-press industry. This was due to the fact that most pre-press companies focused on
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awarded the term “Shirt Wearer” by Sitting Bull. I led many attacks against the white men who invaded my people’s land. When Captain William Fetterman brought 90 men into our territory I lead the attack against them and we destroyed them.
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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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CHAPTER 6 PRODUCTION EXERCISES 4. A political campaign manager must decide whether to emphasize television advertisements or letters to potential voters in a reelection campaign. Describe the production function for campaign votes. How might information about this function (such as the shape of the isoquants) help the campaign manager to plan strategy? The output of concern to the campaign manager is the number of votes. The production function has two inputs‚ television advertising and
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Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
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Although advertisement is one of the elements of the marketing mix‚ it is one that is vital for developing a product’s image‚ which then capture consumers’ attention and stimulate their desire to purchase. Successful advertising campaigns result from good ideas creatively presented to appeal to a contemporary audience. The foundation of Integrated Communication Marketing (ICM) lies in initiatives undertaken to communicate a product effectively to the market place. The different communication tools
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