Answer: Option (a) is correct.
Explanation:
Product costs are the costs that are associated with the production of a product. This is a cost that is incurred in making a product. Product cost includes direct labor cost, direct material cost, consumable supplies and manufacturing overhead. Product costs are also related to the cost of a worker or labor needed to rendered a service to a consumer.
Elaine'S marginal utility is equal to $2.25
Marginal utility is the added delight that a client receives from having one more unit of a great or provider. The concept of marginal application is utilized by economists to decide how much of an item consumers are inclined to buy.
Marginal utility is the greater benefit derived from consuming one extra unit of a specific properly or provider. the principle sorts of marginal utility encompass effective marginal utility, zero marginal application, and terrible marginal application. purchasers regularly enjoy higher marginal software while marginal fee is decrease.
expalnation
Assuming that the utility that she is achieving after consuming a good is equal to the value of the coffee.
= $1 +0.75 + 0.50
= $ 2.25
Hence, the marginal utility is $ 2.25.
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Answer and Explanation:
The journal entry to record the impairment is as follows:
Loss on impairment of equipment $223,000 ($583,000 - $360,000)
To Accumulated depreciation- Equipment $223,000
(Being the impairment is recorded)
Here the loss would be debited as it increased the losses and accumulated depreciation is credited as it decreased the assets
Answer:
Break even point
Explanation:
The break even point is the number of units a company must sell such that total revenue equals the total cost. The total cost is usually made of the fixed and variable components.
The number of units required to break even ( that is to make no loss nor gain) is a factor that determines the total sales and the variable cost. It however may not affect the fixed cost.
Answer:
In deciding how many hours to work, Beulah will make a choice that maximizes her utility; that is, she will choose according to her preferences for leisure time and income.
Explanation:
People obtain utility from products they purchase and they also obtain utility from leisure time (leisure time is the time not spent at work). Generally, for people with low wages react to a higher wage by supplying a greater quantity of labor but for higher wages people who can earn so much that respond to a still-higher wage by working fewer hours.
