Answer:
The correct answer is letter "D": marginal utility is positive for the 4th slice and negative for the 5th slice.
Explanation:
Marginal Utility refers to the additional benefit or satisfaction gained from consuming one more unit of a good or service. In economics, something has utility if it satisfies any consumer wants or needs whether for usefulness or pleasure. It is a subjective term.
If the marginal utility is positive, consumers would want to acquire more of the good or service but if negative they will stop consuming it. Thus, the marginal utility for the 4th pizza slice is positive but the marginal utility for the 5th slice is negative.
Answer:
Low-priced inventory with high turnover
Explanation:
GOT IT RIGHT IN QUIZ
Let $x = the cost per flower.
Number of roses sold = 20
Profit on 20 roses = $6
Cost = (30 roses)($x per rose) = $ 20x
Revenue = ($0.50 per rose)*(20 roses) = $10
Profit = $10 - $ 20x = $6
That is,
10 - 20x = 6
20x = 10 - 6
20x = 4
x = $0.2 = 20 cents
Answer: She paid 20 cents per flower.
Answer:
Journal Entries
1) Debit Salaries Expense $6,667 Credit Bank $6,667
2) Debit Fuel and Maintenance expense $600, Credit Bank $600
3) Debit Depreciation Expense $amount Credit Accumulated depreciation $amount
4) Debit Insurance Expense $amount Credit Bank $amount
5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount
6) Debit Accounts Receivable ( total of all trips) $amount Credit Service Revenue $amount
Explanation:
The Question is incomplete but i will do the typical journal entries to the transactions without figures.
1) The salaries are for one month and in brackets there is a $80,000*1/12 calculation meaning the $80,000 is for the year, now if it was already recorded then we debit salaries payable $6,667 credit bank $6,667
4) Insurance expense is debited if it is paid as it is incurred but if it has an Prepaid insurance account then we credit the Prepaid insurance account instead of Bank.
Answer:
The insurance cost should be allocated to the products made in January and to those made in February is $8,000 and $7,000 respectively.
Explanation:
For computing the allocated insurance cost, first, we have to compute the per labor rate which is shown below:
Per labor rate = (Annual premium) ÷ (Labor hours)
= ($120,000) ÷ (48,000 hours)
= $2.5
Now the insurance cost would be
For January = Labor rate per hour × number of labor hours\
= 3,200 hours × $2.5
= $8,000
For February = Labor rate per hour × number of labor hours
= 2,800 hours × $2.5
= $7,000
