Answer:
B. $34,000; -$1,000
Explanation:
Accounting profit equals total revenue minus explicit costs. Here,
$50,000 - $12,000 - $1,000 - $3,000 = $34,000.
Economic profit equals total revenue minus the sum of both explicit and implicit costs. Here,
$50,000 - $12,000 - $1,000 - $3,000 - $35,000 = -$1,000
Answer:
Seojun's Adjusted Gross income is $140,000.
Explanation: Adjusted Gross income(AGI) is a term used in Financial accounting to describe the total amount of gross income remaining after certain deductions have been made to the Gross income of a business entity over a given period of time.
Since Seojun is not a Material participant,the $50,000 loss can not be considered in calculating Seojun's Adjusted Gross income.
Answer:
C) The market learing price may rise, fall, or stay the same, but the equilibrium quantity will rise.
Explanation:
An increase in demand would lead to an increase in demand and price.
An increase in supply would lead to an increase in supply and a fall in price.
The combined effect would lead to an increase in equilibrium quantity but the effect on equilibrium price would be indeterminate.
I hope my answer helps you
Answer:
where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
Explanation:
Process costing can be regarded as accounting methodology which helps in tracing and accumulation of direct costs, s well s allocation of indirect costs of a manufacturing process. In this method, Costs are been assigned to products, and this is usually in a large batch, and could encompass an entire month's production.
It should be noted that process costing system is employed in those situations where where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
Answer: i hope this helps some its all i can do for now
Explanation:
