In a week the manager owner of manufacturing firm spends $1000 on raw materials $500 on utilities $750 hiring tools and $400 on rent .The manager owner earned $1000 per week before quitting her job to start the manufacturing enterprice. a. calculate the explicit cost of the firm. b.implicit cost of the firm. c.what will be the normal profit of the firm.​

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

The distinction between a normal and an inferior good is

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.