(Answered) Francis owns a dog grooming shop francis owns the building

Management Studies

Francis owns a dog grooming shop. Francis owns the building where the shop is located. Her annual revenue and operating expenses are as follows:

Revenues $224,000

Supplies $48,000

Utilities $6,000

Employee salaries . $72,000

Francis' salary . $84,000

Francis is considering closing the shop to become a professional dog trainer. If she makes this change, she would make $88,000 a year and her cousin has offered to rent the building for $30,000 annually

What is the accounting cost for the shop?
What is the economic cost for the shop? Why is it different from accounting cost?
What is the economic profit for the shop?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M92690046
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

Write c program using cpp file that displays the color of

Write C++ program (using .cpp file) that displays the color of the camera whose item number is entered by the user. All item numbers contain exactly seven characters. All items are available in four colors: black, green, ...

The authors distinguish between controllable and

The authors distinguish between controllable and uncontrollable factors that influence the demand for a product. One of the controllable factors on their list is advertising --- do you agree with this classification? Com ...

Do you all see health care leadership being only as

Do you all see health care leadership being only as effective as the peripheral support offered to help maintain this elevated level of results? Do you all envision that top level management must be a bit "intrusive" int ...

Outline how the culture of a country might influence the

Outline how the culture of a country might influence the risks of doing business in that country. Illustrate the answer with examples.

What is norways global health issues and how can they be

What is Norway's global health issues and how can they be combated?

How can local the local government help prepare employees

How can local the local government help prepare employees for higher level positions in the organization.

Riditna paper withdraws river water for use in its paper

Riditna Paper withdraws river water for use in its paper mill, and returns it, along with waste effluent, back into the river. (Effluent is a co-product of Riditna's paper, such that production of each ream of paper gene ...

What impact does corporate strategy have on your decision

What impact does corporate strategy have on your decision, as a consumer, to purchase those products or services? What is the best plan to implement and enforce a code of ethics within a business? What is the impact of a ...

Could you help me solve the following economics problemin

Could you help me solve the following economics problem? "In order to maximize profits a firm should produce the level of output which yields the largest vertical gap between TR and TC curves." Explain this, using a grap ...

Pease refer to walmart companycourse- investments

PLEASE REFER TO WALMART COMPANY Course- Investments ( Textbook- Bodie, Z., Kane, A., & Marcus, A. J. (2018). Investments(11th ed). New York, NY: McGraw-Hill Education. ISBN: 978-1-259-27717-7) Write a one page memo with ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert