Economan has been infected by the free enterprise bug. He invests in some equipment to do research and publish results. He sets up and runs a firm that studies extraterrestrial genetic studies. For a one-year period the rent of the building is $20,000, the cost of two secretaries is $120,000 total, and the cost of utilities comes to $40,000. There is demand for the services and the revenues total $250,000 for the year. By working in the firm, though, Economan forfeits the $50,000 he could earn by working for the Friendly Space Agency and the $4,000 he could have earned as interest had he saved his funds instead of putting them in his business. a) What is the profit o loss by an accountant's definitions?b) What is profit or loss by an economist's definitions?

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

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crow design, inc. is a web site design and consulting firm. the firm uses a job order costing system in which each client is a different job. crow design assigns direct labor, licensing costs, and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. direct labor hours (professional) 6,250 hours direct labor costs ($1,800,000 support staff salaries ,000 computer ,000 office ,000 office ,000 in november 2012, crow design served several clients. records for two clients appear here: delicious treats mesilla chocolates direct labor 700 hours 100 hours software licensing $ 4,000 $400 travel costs 8,000 1. compute crow design’s direct labor rate and its predetermined indirect cost allocation rate for 2012. 2. compute the total cost of each job. 3. if simone wants to earn profits equal to 50% of service revenue, how much (what fee) should she charge each of these two clients? 4. why does crow design assign costs to jobs?