Reference no: EM132680395
The following terms are used to describe various economic characteristics of costs:
Opportunity Cost Average Cost
Sunk Cost Out-of-pocket Cost
Differential Cost
Required:
Choose one of the preceding terms to characterize each of the amounts described below. Each term may be used only once (5 Points).
Problem (1). The cost of merchandise inventory purchased five years ago. The goods are now obsolete.
Problem (2). The cost of feeding 300 children in a public school cafeteria is $450 per day, or $1.50 per child per day. What economic term describes this $1.50 cost?
Problem (3). The management of a high-rise office building uses 3,000 square feet of space in the building for its own administrative functions. This space could be rented for $30,000. What economic term describes this $30,000 of lost rental revenue?
Problem (4). The cost of building an automated assembly line in a factory is $700,000; a manually operated assembly line would cost $250,000. What economic term is used to describe the $450,000 variation between these two amounts?
Problem (5). Refer to the preceding question and assume that the firm is currently building the assembly line for $700,000. What economic term is used to describe the $700,000 construction cost?
|
What was the cost of goods manufactured for the period
: What was the Cost of Goods Manufactured for the period? Beginning Work in Process Inventory: $20,000. Ending Work in Process Inventory: $25,000
|
|
What is the total amount of conversion costs
: What is the total amount of conversion costs? Arden Company reported the costs and expenses for the most recent month,Direct Materials: $80,000
|
|
Anything relevant to the course material - thermodynamics
: Anything relevant to the course material, so thermodynamics, kinetics, quantum mechanics, or spectroscopy. No biology, pharmacology, or biochemistry.
|
|
Journalize the June transactions for Salinas Company
: Problem - Sales-related and purchase-related transactions for seller and buyer - Journalize the June transactions for (1) Salinas Company and (2) Brokaw Company
|
|
What economic term describes
: The cost of feeding 300 children in a public school cafeteria is $450 per day, or $1.50 per child per day. What economic term describes this $1.50 cost?
|
|
What is the project npv-down under boomerang
: The project is estimated to generate $1,740,000 in annual sales, with costs of $650,000. The tax rate is 21 percent and the required return is 11 percent.
|
|
Common death investigation within the United States
: The Center for Disease Control (CDC) identified suicide as a common death investigation within the United States.
|
|
Determine what is cost of goods sold for julia and company
: What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer)
|
|
What would be potential interventions in the community
: Identify the assets (strengths) your community could use to help solve the problem. Identify individuals in the community who would be key to addressing
|