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yes, depreciation is an implicit cost. but this implicit cost is added to total costs in calculating accounting profits.
implicit cost such as tuition fee, books cost and rental cost may affect the undergraute student in university , for the student to go to university he or she has forgone wages for books
The workers who produce these goods are paid better wages.
The cost of wages paid to workers during an accounting period on daily, weekly, monthly, or jobs basis,plus payroll and related taxes and benefits.
E. Wages of production workers. If a firm were to shut down production, rent would still be owed, insurance premiums would still have to be paid, they would have to honor their long term contracts, and interest payments would still have to be met. But it could lay off any workers not under contract.
No
If wages are paid of those workers which directly related with the manufacturing or units then wages are part of prime cost otherwise it is part of conversion cost.
yes, depreciation is an implicit cost. but this implicit cost is added to total costs in calculating accounting profits.
implicit cost such as tuition fee, books cost and rental cost may affect the undergraute student in university , for the student to go to university he or she has forgone wages for books
The workers who produce these goods are paid better wages.
direct labor cost is total wages and salaries of workers divided by production at normal capacity.
Direct labor cost is the total cost of salaries and wages paid to workers / number of units to be manufactured for normal capacity
Cost-push inflation states that increasing wages for workers drives up the cost of production, forcing producers to charge more to meet their costs.
They Want to save money wage is a cost of their company
Salaries and wages of workers directly involve in goods manufacturing is direct labor cost.
Explicit cost and Implicit cost are the two dimensions of cost What role does cost play in financial decisions?
The cost of wages paid to workers during an accounting period on daily, weekly, monthly, or jobs basis,plus payroll and related taxes and benefits.