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

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 2EA: Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019,...

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