Question

How do you prepare forecasting reports for quarterly office costs?

Answer 1

To prepare forecasting reports for quarterly office costs, calculate explicit costs and subtract them from revenue to determine accounting profit.

Step-by-step explanation:

To prepare forecasting reports for quarterly office costs, you need to follow a few steps:

1. Calculate the explicit costs by adding up the office rental and law clerk's salary.
2. Subtract the explicit costs from the revenue to determine the accounting profit.
3. Use this information to analyze and forecast future office costs.