Consider the following information about a photography business Leila opened last year: Price = $70 per unit Quantity sold = 12,500 Implicit cost = $95,000 Average material cost = $55 per unit Assuming that all relevant costs and revenue are noted, what was Leila's accounting profit?

Answer rating: 100% (QA)

To calculate Leilas accounting profit we need to consider both the revenue income and the ... View the full answer