You are given the following information on computech Pvt Ltd Item Amount ($) Total revenue 500000 Wages and Salaries 400000 Forgone salary 50000 Materials 50000 Forgone rent 10000 Interest paid 10000 Other payments 8750 Forgone Interest 5000 Using information in the table above, determine accounting and economic profit

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 07, 2024

You are given the following information on computech Pvt. Ltd. Item Amount ($) Total revenue 500000 Wages and Salaries 400000 Forgone salary 50000 Materials 50000

You are given the following information on computech Pvt. Ltd.

Item	Amount ($)
Total revenue	500000
Wages and Salaries	400000
Forgone salary	50000
Materials	50000
Forgone rent	10000
Interest paid	10000
Other payments	8750

Forgone Interest

5000

Using information in the table above, determine accounting and economic profit.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Worldly Philosophers The Lives, Times And Ideas Of The Great Economic Thinkers

Authors: Robert L Heilbroner

7th Edition

068486214X, 9780684862149

More Books

Students also viewed these Economics questions

Question

★★★★★

Surveys have indicated that 95% of all the different parts made in the United States are produced in lots of 50 or less. Comment on this observation, and describe your thoughts regarding the...

Answered: 1 week ago

Question

★★★★★

High-low versus regression method. (CIMA, heavily adapted) Anna Martinez, the financial manager at the Casa Real restaurant, is working with Jan Brown, the marketing manager, to establish whether...

Answered: 1 week ago

Question

★★★★★

Assuming the normality assumption is valid, compute a 95% confidence interval for ????1 when (a) ????1 = 2.3, ????????(????1) = 0.5, and ???? = 40. (b) ????1 = 11.8, ????????(????1) = 2.72, and ????...

Answered: 1 week ago

Question

★★★★★

Wood Crafts, Inc. is a manufacturer of furniture for specialty shops throughout the Northeast and has an annual sales volume of $12 million. The company has four major product lines: bookcases,...

Answered: 1 week ago

Question

★★★★★

(Learning Objective 4: Evaluate internal control over cash receipts) McIntosh stores use point-of-sale terminals as cash registers. The register shows the amount of each sale, the cash received from...

Answered: 1 week ago

Question

★★★★★

compare/contrast nature/nurture and how our genes compete to createwho we are. There are many speculations as to how nature and nurture affect the overall development ofthe child. This assignment...

Answered: 1 week ago

Question

★★★★★

Decode the string below and then find the appropriate substitution cipher to decode thephrasebelow and find the flag. JBNFIUBNGYYDMMZTGEZAU=== Find the appropriate substitution cipher to decode...

Answered: 1 week ago

Question

★★★★★

The Children\'s Foundation enters into a contract with The Lively Group. The contract obligates The Children\'s Foundation to deliver a specified amount of cash to The Lively Group if a specified...

Answered: 1 week ago

Question

★★★★★

Solve question 1 Q-5) Consider the following more complex regression (4 points) [Do not forget to create a dummy variable for marital] SUMMARY OUTPUT SUMMARY OUTPUT Regression Statistic Regression...

Answered: 1 week ago

Question

★★★★★

A sphere of radius R = 0.315 m and uniform charge density 151 nC/m lies at the center of a spherical, conducting shell of inner and outer radii 3.50R and 4.00R, respectively. The conducting shell...

Answered: 1 week ago

Question

★★★★★

The yards per carry of 20 randomly selected college football running backs are listed below. Assume the yards per carry are normally distributed. Use two decimal places in all numerical answers. 2.8,...

Answered: 1 week ago

Question

★★★★★

Using any benchmark data that you can find, including information from this textbook, what are some benchmark metrics that Lisa could be using to assess the efficiency of her human resource...

Answered: 1 week ago

Question

★★★★★

MyManagementLab onlycomprehensive writing assignment for this chapter. 1-12. What do you think of the idea of Google correlating personal traits from the employees answers on the survey to their...

Answered: 1 week ago

Question

★★★★★

Miriam, the controller, is basically claiming that the company is retaliating against her for being pregnant, and that the fact that we raised performance issues was just a smokescreen. Do you think...

Answered: 1 week ago

Previous Question Next Question