firm had sales revenue of $1 million last year. It spent $600000 on labor, $150000 on capital and$200000 on materials. What was the firm’s accounting profit
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A firm had sales revenue of $1 million last year. It spent $600000 on labor, $150000 on capital and$200000 on materials. What was the firm’s accounting profit?
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- A firm had sales revenue of $942 million last year. It spent $463 million on labor, $88 million on capital and $162 million on materials. The firm's factory sits on land owned by the firm that could be rented out for $2 million per year. What was the firm's economic profit last year in millions of dollars? (Do not include the word "million" or the dollar symbol in your answer, just a number.)A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 onmaterials. What was the firm’s accounting profit?Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000. What is the firm's fixed costs?
- A firm producing 1000 units at a total cost of $5000, if it were to increase production to 1001 units , its total cost would raise to $5008, what does the information tell you about the firm?a software production firm, average product has started falling and total output indicated diminishing trend. The production manager Mr. Yahya called you and asked you to see the condition of marginal product. You analyzed the situation and reported that marginal product falling more than average product. Mr. Yahya got surprised. In your opinion which situation the firm is heading to?Suppose a company incurs the following costs: labor, $2,000; equipment, $600; and materials, $200. The company owns the building, so it doesn't have to pay the usual $900 in rent. Instructions: Enter your responses as a whole number. a. What is the total accounting cost? $ b. What is the total economic cost? $ c. If the company sold the building and then leased it back, what would be the change in 1. accounting costs? $ 2. economic costs? $ Q Search L O of e <
- How Toyota Motors operate their economies of scale?Use the accompanying graph to answer the following questions. Assume the company makes 30,000 parts per month of Product A and 17,500 parts per month of Product B. Click the icon to view the provided graph. (a) Which Product has the higher variable cost, and what is this value in units of dollars per part? has the higher variable cost. This value is $/part. (Type an integer or a decimal. Round your answer to two decimal places.) More Info Total Cost or Revenue [$] Milions $6- $5- $4- $3- FA $0- O. 0 10 - Product A Total Cost - Product B Total Cost Product A Revenue Product B Revenue G1 A 20 30 G T 40 Time (t) [months] Print 50 Done 60 N ... 70 80 Ⓡ o XA firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials. Furthermore, the firm's factory sits on land owned by the firm that could be rented out for $30,000 per year. Calculate this firm's accounting profit and economic profit. Make sure to specify what would be explicit costs and what would be implicit costs.
- The way in which accountants and economists analyse the costs of a firm differ. Discuss the difference between accounting costs and economic costs of a firm.Quantity Total Fixed Costs Total Variable Costs (Dollars) (Dollars) 0 180 0 1 180 80 2 180 140 3 180 180 4 180 240 5 180 320 6 180 450 Complete the following table by calculating the company's total cost, marginal cost, average fixed cost, average variable cost, and average total cost at each level of production. Quantity Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 0 1 2 3 4 5 6 The price of a case of ball bearings is $80. Seeing that he can't make a profit, the company's chief executive officer (CEO) decides to shut down operations. The firm's profit in this case is . (Note: If the firm suffers a loss, enter a negative number in this cell.)…Jason owns a small pizza restaurant, where he works full time in the kitchen. His total revenue last year was $136,000, and his rent was $2,610 per month. He pays his one employee $2,200 per month, and the cost of ingredients and overhead averages $960 per month. Jason could earn $32,600 per year as manager of al competing pizza restaurant nearby. What's Jason's accounting profit for the entire year? Your Answer: Answer