Companies that manufacture identical items through a series of uniform production steps use to determine the cost per unit produced a process costing system.- b)
The correct option is - 3 ( "Money spent last month repairing a damaged front fender" )
<u>Explanation:</u>
Sunk cost means the cost that has been already incurred in the past and cannot be recovered. This implies that sunk costs should be not be considered in future decision making of the project, because these are the cost that can not be changed with under taking the project or not. The significant aspect about this costs is that they shouldn't be allowed to influence subsequent decisions.
With the theatre ticket example, there's an opportunity to leave the theatre at the intermission and spend the rest of your evening doing something else more enjoyable. If you don't like the play then you might decide to leave, but the sunk cost of the ticket shouldn't influence your decision to stay or leave.
Answer:
$591.60
Explanation:
The computation of the future value after two years is shown below:
Future value = Present value × (1 + rate)^number of years
where,
Present value = $500
Rate = 8.5% ÷ 4 = 2.125%
Number of years = 2 year × 4 = 8 years
So, the future value after two years is
= $500 × (1 + 2.125%)^8
= $500 × 1.1831956282
= $591.60
<span>Economic advisors (Although economic advisors may read financial statements, they more often are focused on macro economic conditions of the local economy and the greater region)
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