The table below provides the annual revenues and costs for a family-owned firm producing catered me Total Revenues ($) 500,000 Total Costs ($) - wages and salaries - risk-free return of 5% on owners' capital of $300,000 - rent - depreciation of capital equipment - risk premium of 7% on owners' capital of $300,000 - intermediate inputs - forgone wages of owners in alternative employment - interest on bank loan The implicit costs for this family-owned firm are A. $36,000. B. $101,000. C. $116,000. D. $486,000. E. $80,000. 250,000 15,000 103,000 25,000 21,000 146,000 80,000 14,000

The table below provides the annual revenues and costs for a family-owned firm producing catered me Total Revenues ($) 500,000 Total Costs ($) - wages and salaries - risk-free return of 5% on owners' capital of $300,000 - rent - depreciation of capital equipment - risk premium of 7% on owners' capital of $300,000 - intermediate inputs - forgone wages of owners in alternative employment - interest on bank loan The implicit costs for this family-owned firm are A. $36,000. B. $101,000. C. $116,000. D. $486,000. E. $80,000. 250,000 15,000 103,000 25,000 21,000 146,000 80,000 14,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4CDQ: How would each of the following costs be classified if units produced is the activity base? a....

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