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Mariana [72]
3 years ago
10

On May 1, 2021, Varga Tech Services signed a $18,000 consulting contract with Shaffer Holdings. The contract requires Varga to p

rovide computer technology support services whenever requested over the period from May 1, 2021, to April 30, 2022, with Shaffer paying the entire $18,000 on May 1, 2021. How much revenue should Varga recognize in 2021?
Business
1 answer:
likoan [24]3 years ago
5 0

Answer:

The correct answer is $12,060.

Explanation:

According to the scenario, the given data are as follows:

Varga tech total revenue = $18,0000

Contract date = May.1, 2021

So, remaining months in completion of 2021 = May - Dec = 8 months

So, we can calculate the Varga revenue by using following method:

Varga revenue in 2021 =  Total revenue × Remaining month ÷ Total months

By putting the value, we get

Varga revenue = $18,000 × 8 ÷ 12

= $18,000 × 0.67

= $12,060

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Katie Kwasi’s utility function is U(x1, x2) = 2(ln x1) + x2. Given her current income and the current relative prices, she consu
aniked [119]

Answer:

Katie Kwasi's Utility Function

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Explanation:

a) Data and Calculations:

Katie Kwasi’s utility function, U(x1, x2) = 2(ln x1) + x2

Current consumption = 10 units of x1 and 15 units of x2

When her income doubles, with prices staying constant, Katie will consume:

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= 40 units of x1 + 15 units of x2

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b) The above function expresses mathematically Katie's utility to be a function of the units of x1 and x2 that she can consume, given her income constraint.  If her income doubles, Katie will consume double units of x1 and the same units of x2 as she was consuming before the change in income.

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Check the explanation below

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