Profit an economic profit, Cost Accounting

Johnson Farms owns valuable farm land that permits it to make wheat at a lower cost than its competitors. The company reports large profits every year on its accounting statements. Is this profit an "economic profit?" describe.

Posted Date: 3/13/2013 6:30:37 AM | Location : United States







Related Discussions:- Profit an economic profit, Assignment Help, Ask Question on Profit an economic profit, Get Answer, Expert's Help, Profit an economic profit Discussions

Write discussion on Profit an economic profit
Your posts are moderated
Related Questions
What are the five accounts used in adjusting entry for periodic inventory at the end of the year?

The controller for U.S. Route 66 Truck Parts is comparing traditional overhead allocationwith ABC. After studying both approaches, the controller prepared the following list of fea

Pecos Canyon Winery is a small vineyard/winery located in the Big Bend area of West Texas. The initial cabernet grape vines were planted in the spring of 2004 with the first wine p

Judy's mother, Sarah, died on July 2, 2006, leaving Judy her entire estate. Included in the estate was Sarah's residence (325 Oak Street, Cincinnati, OH 45211). Sarah's basis in th

Question: Timothy Ltd uses a flexible budget for overhead costs. The company expects to produce 40,000 units of the product it manufactures. Each unit requires 0.40 direct labo

Develop costing for the production units to explain the manufacturing expenses that the proposed product will require for the first year of production. This portion requires the fo

A retailer knows the annual demand for one of its product is 100,000 units, the ordering costs are £25 per order and the average carrying cost per unit is 35 pence. You are require

Ass ume that during April, the job cost sheet for Job 206 showed the following:                                                          Dept. A                   Dept. B M

Series Arithmetic Mean Standard Deviation   Small-company stocks 15.9  % 32.8  %   Large-company

Andrew Industries is contemplating issuing a 30-year bond with a coupon rate of 7% (annual coupon payments) and a face value of $1000. Andrew believes it can get a rating of A from