Answer: Sarah has a higher opportunity cost of laundering her clothes than Harold does.
Explanation:
The opportunity cost is the cost of choosing an option out of a set of available options to an individual. Sarah is wealthier than Harold, therefore sending her clothes to the laundry is easier for her than it is for Harold, therefore Sarah has a higher opportunity cost than John doing laundry, because she can easily pay to get the Job done, which is not the case for John.
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If one wants to determine the selling price of a product using the total cost method, the management should use Total product costs plus a markup.
<h3>What is the total cost method?</h3>
The actual cost of performance is generally subtracted from the bid price before profit is added to the resultant sum in the total cost approach.
A production income statement is what the total cost method is. In other words, the units of measurement generated are utilized to accrue income and expenses. The units of measure produced during the reviewed period are used to calculate income and expenses.
When employing the whole cost method, the business accounts for all expenses associated with manufacturing the questioned well. The price of the entire product is included.
The final step is to add a markup to the overall cost in order to determine a selling price that will allow for the anticipated level of profit.
To learn more about the total cost method refer to:
brainly.com/question/6480601.
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Answer:
The answer is: C) purchase of supplies for on account.
Explanation:
When Norman Company bought office supplies it will record them as supplies on hand, which are a type of current asset.
When you buy things on account, it means that you will pay the purchase at a later date, so a liability must be recorded.
