1 - unearned revenue
2 - prepaid expense
Answer:
a. Toby is not maximizing his utility
b. Toby should reduce his spending on cashew and increase his spending on peanuts.
Explanation:
a. Is Toby maximizing his total utility from the kinds of nuts? If so, explain how you know.
Toby will maximize his utility when we have:
MUp/Pp = MUc/Pc
Where;
MUp/Pp = Marginal utility of peanut divided by price of peanut = 100/10 = 10
MUc/Pc = Marginal utility of cashew divided by price of cash = 200/25 = 8
From the above, Toby is not maximizing his utility. I am able to know this because MUp/Pp > MUc/Pc (i.e. 10 > 8). An Toby will only maximize his utility when MUp/Pp = MUc/Pc.
b. If not, how should he rearrange his spending?
Since MUp/Pp > MUc/Pc (i.e. 10 > 8), Toby should reduce his spending on cashew in order to increase MUc and increase his spending on peanuts reduce MUp until MUp/Pp = MUc/Pc.
Answer:
overall performance 0.000297
Explanation:
cost of inputs:
labor 10,500 hours x 25 each = 262,500
suspension and engine 500 kits x 1,000 each = 500,000
energy 100,000 kilowatt-hous x 5 each = <u> 500,000 </u>
total input resource cost 1,262,500
performance:
375 / 1,262,500= 0.00029703
rounding to 6 decimal places: 0.000297
Answer:
Accounting equation is as follows:
Assets = Liabilities + Stockholder's equity
(a) Cash $3,940 Notes payable $3940
(b) Cash $4,630 Common stock $4,630
(c) Equipment $1,000
Cash (-$200) Notes payable(ST) $800
(d) Supplies $300
Cash (-$300)
(e) Supplies $700 Accounts payable $700