Below Are Some Financial Data for the Do Drop in Convenience

question 43

Multiple Choice

Below are some financial data for the Do Drop In convenience store.
The owners have put $40,000 into the business and they worked a total of 80 hours during the week.Savings accounts are currently paying 5.2% interest and the going wage rate is $8 per hour.
-Refer to the information above to answer this question.What are the week's total implicit costs for the Do Drop In?

• A)$40.
• B)$680.
• C)$6,300.
• D)$6,900.
• E)$7,580.

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Definitions:

Industry Figures

Statistical data or benchmarks pertaining to a specific industry, used for comparison or analysis.

Common-Sized Financial Statement

A financial statement that presents all line items as a percentage of a common base figure, facilitating comparison with other companies or time periods.

Key Item

An essential or significant product, account, or piece of information that holds particular importance within a specific context.

Common-Sized Income Statement

An income statement in which each line item is expressed as a percentage of sales revenue, facilitating comparison across periods and with other companies.