Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Our Q&A platform offers a seamless experience for finding reliable answers from experts in various disciplines. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Golda Rush quit her job as a manager for Home Depot to start her own hair dressing salon, Goldilocks. She gave up a salary of $40,000 per year, invested her savings of $30,000 (which was earning 5 percent interest) and borrowed $10,000 from a close friend, agreeing to pay 5 percent interest per year. In her first year, Golda spent $18,000 to rent a salon, hired a part-time assistant for $12,000 and incurred another $15,000 in expenses on equipment and hairdressing material. Based on this information, what is the amount of her explicit costs

Sagot :

The amount of her explicit costs is ​$45,500.

Which costs are explicit?

Out-of-pocket expenses are charges that are actually made. Explicit costs include salaries that a company pays to its staff and office rent. Implicit costs are less obvious but no less significant. They stand for the opportunity cost of utilising resources the company already owns.

What are some explicit cost examples?

Explicit costs have precise cash values that are carried over to the income statement. Wages, leasing payments, utilities, raw materials, and other direct costs are a few examples of explicit costs.

learn more about explicit cost here https://brainly.com/question/13853366

#SPJ4

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.