You start your own business on 1/1/2019. During the year 2019, your sales revenues are $300,000. You pay your assistant $80,000 and pay $30,000 for materials and utilities. You work in your own business, but in your next best alternative you could earn an annual labor income of $60,000. [You do not own any capital equipment or other resources. -- do not worry about depreciation or any costs associated with capital in this question.] Your economic profit for 2019 is

Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection