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What is sum of production cost?
The total cost of producing a widget.
How calculate economics value added?
The value added concept is a mainstay of modern economics. Let's use a simple example: 1) A widget maker has a fixed cost of creating a widget at $5. 2) The average consumer is willing to pay $10 for a widget. 3) The widget maker sells the widget for $7. In this case, the total "value added" is the difference between what the average customer is willing to pay ($10) and the cost of the good ($5). In this example, the value added would be: $5. The next question: how is that value distributed? Since the widget maker creates the widget at $5 and sells at $7, there is $2 of value going to the widget maker. Since the average consumer is willing to pay $10 but only pays $7, there is $3 of value added to the consumer. --- Now - what if the widget maker sold the widget at $9. In this case the average consumer would not purchase the widget. What if the widget maker sold the widget for $4? In this case the widget maker would be selling below cost (which would lead to losses).
When does profit occur?
When the price that an item brings is more than the cost of bringing the item to market. I spent a dollar to make a widget, and 10 cents to put the widget on sale, advertise it, sell it and deliver it. It sells for $2. I have a profit of 90 cents on each widget.
Profit occurs when...?
When the price that an item brings is more than the cost of bringing the item to market. I spent a dollar to make a widget, and 10 cents to put the widget on sale, advertise it, sell it and deliver it. It sells for $2. I have a profit of 90 cents on each widget.
Does the google widget cost money to download?
"No, the widget is free to all its downloading users. They are simple to understand and easy to use. I have just downloaded one to my computer last week. I have nothing but great reviews about it."
What is cost accounting and its applications?
Cost Accounting is a method by which an accountant can determine the cost of production of a "widget". This is used in accurate reporting of Cost of Goods Sold and consequently the Gross Income of a company. A Cost Accountant will follow the "widget" througout the production process tracking any costs associated and breaking them down to a unit level. It gets more complicated than that but this is a good generic answer.
Is widget a boy or girl?
Widget is a girl.
How do you change this football widget?
you cant change a football widget
When did Widget Workshop happen?
Widget Workshop happened in 1995.
When was Widget Workshop created?
Widget Workshop was created in 1995.
When did Super Widget happen?
Super Widget happened in 1993.
When was Super Widget created?
Super Widget was created in 1993.
