1. The following table presents some data from I.M. Farmer's income statement. Use the information to compute values for each of the items listed below. Total revenue Net farm income Average net worth Average asset value Interest expense $120,000 Total operating expenses $36,000 Opportunity cost of labor $180,000 opportunity cost of management $360,000 Opportunity cost of capital $12,000 a. Rate of Rate of return on assets b. Rate of return on equity_ % % $72,000 $20,000 $5,000 12% 0
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- The value of goods or service sold by business during a particular period of time is know as A-profit B- turnover C-cash flow D-income statementMicroeconomics Jon quit his job as a manager at West End Savings bank where he earned $112,000 a year. He cashed in $214,000 in corporate bonds that earned 1.0% interest annually to set up a gym. Jon has decided to buy a store front and set up exercise classes. There are 1400 people who will pay $1200 a year for unlimited classes; $850 from each person goes for instructors, maintenance, equipment, insurance, depreciation etc. Write the answers to the following questions on the answer sheet. (You must show your work.) 1. List 2 (in numbers) 2 implicit costs that Jon has not included. 2. What is Jon’s pure economic profit (or loss) in numbers?Microeconomics Jon quit his job as a manager at West End Savings bank where he earned $112,000 a year. He cashed in $214,000 in corporate bonds that earned 1.0% interest annually to set up a gym. Jon has decided to buy a store front and set up exercise classes. There are 1400 people who will pay $1200 a year for unlimited classes; $850 from each person goes for instructors, maintenance, equipment, insurance, depreciation etc. Write the answers to the following questions on the answer sheet. (You must show your work.) A.What are Jon’s total revenues? B. What are Jon’s explicit costs? In numbers C.What is his accounting profit? in numbers D. List 2 (in numbers) 2 implicit costs that Jon has not included. E. What is Jon’s pure economic profit (or loss) in numbers?
- CIS 360 - Business Database Concepts – DB Design The following spreadsheet is a sample that is currently being used to track company data. However, employees have been complaining about the amount of maintenance needed to sustain the data. EMP_NAME PROJ_NUM PROJ_NAME EMP_NUM 1 Hurricane JOB_CODE JOB_CHG_HOUR PROJ_HOURS EMP_PHONE 101 John D. Newson EE 85.00 13.3 653-234-3245 1 Hurricane 105 David F. Schwann CT 60.00 16.2 653-234-1123 1 Hurricane 110 Anne R. Ramoras CT 60.00 14.3 615-233-5568 2 Coast 101 John D. Newson EE 85.00 19.8 653-234-3254 2 Coast 108 June H. Sattlemeir EE 85.00 17.5 905-554-7812 3 Satellite 3 Satellite 3 Satelite 110 Anne R. Ramoras CT 62.00 11.6 615-233-5568 105 David F. Schwann CT 26.00 23.4 653-234-1123 123 Mary D. Chen EE 85.00 19.1 615-233-5432 3 Satellite 112 Allecia R. Smith BE 85.00 20.7 615-678-6879 1. List the issues that will arise by using this as a way to store and maintain company data. Use the actual data as examples in your explanation. 2. Create a…QUESTION 18 A clothing manufacturer produced 5,000 sweaters, but sold only 4,000 of them. The remaining 1,000 sweaters would be classified as part of the firm's intangible capital. a factor of production. part of the firm's tangible capital. O a loss to the firm.OneLogin x B Achieve Assignments - ECO2023 X Assessment - Microeconomics 68 X rning.com/courses/b390dd47-7af5-4231-b050-94a970e501f8/4/dc7abv/tools/assessment/items/247874a5-e17c-49e. Completed 14 out of 20 Question 4 of 20 Entrepreneurs deserve the profits they earn because they O have college degrees. O bear the risks of failure and bankruptcy. extract rent from fixed inputs. are visionaries. LAPTOP LOGIN USERNAME: student PASSWORD: Broward
- Consider the data below for the Price of a single family home based up its size in square feet, the size of the lot in acres and the number of bedrooms. Price Sq Ft acres BRS $500,000 1400 0.45 $600,000 1,800 0.5 $550,000 1,600 0.33 is $1,000,000 2,200 $650,000 1800 125 $450,000 1,200 0.2 $425,000 $650,000 1200 0.75 3. 1,750 05 4. Using only the size of the house in square feet and the size of the lot in acres, determine the slope coefficient associated with the house size (Słope 1) for the house Cost Estimating Your Answer: Answer2. Exercise 8.2 Howard Bowen is a large-scale cotton farmer. The land and machinery he owns has a current market value of $12 million. Bowen owes his local bank $9 million. Last year Bowen sold $11 million worth of cotton. His variable operating costs were $9 million; accounting depreciation was $40,000, although the actual decline in value of Bowen's machinery was $60,000 last year. Bowen paid himself a salary of $50,000, which is not considered part of his variable operating costs. Interest on his bank loan was $400,000. If Bowen worked for another farmer or a local manufacturer, his annual income would be about $30,000. Bowen can invest any funds that would be derived if the farm were sold to earn 10% annually. (Ignore taxes.) What is Bowen's accounting profit? O $1,560,000 O $1,550,000 O $1,220,000.00 O $1,210,000.00 What is Bowen's economic profit? O $1,550,000 O $1,210,000.00 O $1,560,000 O $1,220,000.00After many months in business, Horatio decides that there are some negative aspects of having a sole proprietorship. All of the following are negatives except A. Lack of money B. Pride of ownership C. Unlimited liability D. Lack of continuity
- Land Rent ($) A 0 D₁ D₂ D₂ D₁ Acres of Land Which of the following statements is true of land as shown in the diagram? A. It would be a free resource in the case of all four demand curves. B. It would be an economic (scarce) resource in the case of all four demand curves. C. It will cease to be used in production if demand falls below D4. D. It would be a free resource if demand is D4 or less.2 You run a business selling used hand tools. The rent on your building is $1400/month. Utilities average $600 month. Your average cost to buy your used hand tools from a wholesaler is $9.5/tool. You spend S0.50/tool to package and individually price them. You have two employees in your store during the opening hours that sell the tools. Each employee gets a salary of $12/hour. Your store is open 10 hours/day, every day of the week. Over the course of a year, this averages out to 30 days'month. The average selling price for a used tool is $22. How many tools per month must be sold to make $4000 profit each month.What is the rate of return when 12 shares of Stock A, purchased for $22/share, are sold for $465? The commission on the sale is $9. 4 F4 Copyright © 2003-2022 International Academy of Science. All Rights Reserved. F5 Rate of Return Enter the appropriate value into the formula to calculate the rate of return. A F6 5 RTY 6 & Total Cost = $273 Profit= $192 [?] Rate of Return = F7 7 * = F8 8 profit or loss total cost DELL F9 9. prtsc F10 home F11 Enter end F12 +11. Insert