It takes your body around 1 hour to process 1 Unit of Alcohol, so that's about half a pint of beer or one 25 ml shot or 2/3 of a 125 ml glass of wine. That number is for people with a healthy liver.
The following are the major differences between explicit cost and implicit cost. 1  Explicit Cost is incurred when the entity has to pay for the utilisation of factors of production. Implicit Cost is the opportunity cost, which is incurred when the entity uses the ownerâs resources like capital inventory etc.
There are three different types of inventory costing methods: FIFO (First-in, First-out), LIFO (Last-in, Last-out), and Weighted Average. Example Some companies choose to use the weighted average method of costing inventory because it doesnât require them keep track of individual units of inventory. Instead, the weighted average method of costing inventory assigns an average cost to each piece of inventory when it is sold.