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4 years ago

What is the difference between total utility and marginal utility?

1 answer:

6 0

The main difference between total utility and marginal utility is that total utility refers to the total amount of satisfaction the consumer receives from a good. Marginal utility is the added satisfaction they receive from consuming an idiot unit of the same good.
We all buy something and hope to feel satisfied from purchasing that good, that is essentially what total and marginal utility are measuring. This allows economists and businesses to track how satisfied consumers are from consumption of a product.

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Poland's Paints allocates overhead based on machine hours. Selected data for the most recent year follow. Estimated manufacturin

trapecia [35]

Answer:

Allocated MOH= $274,850

Explanation:

Giving the following information:

Estimated manufacturing overhead cost $238,900

Estimated machine hours 20,000

Actual machine hours 23,000

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 238,900/20,000

Predetermined manufacturing overhead rate= $11.945 per machine-hour

<u>Now, we can allocate overhead:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 11.95*23,000

Allocated MOH= $274,850

8 0

4 years ago

what criteria would a private, nonprofit university follow in determining whether to recognize donated services revenue? select

blondinia [14]

The criteria would a private, nonprofit university follow in determining whether to recognize donated services revenue both a and b.

What is revenue?

Revenue is the cash that a firm generates via its operations. Depending on the accounting technique used, there are several ways to compute revenue. Sales made on credit will be included as revenue for products or services provided to the client under accrual accounting. Revenue may be recognized in accordance with certain standards even though payment has not yet been made.

The cash flow statement must be examined in order to determine how well a business collects debts. Contrarily, cash accounting only counts sales as income when money has been exchanged. A "receipt" is a payment made to a business; receipts can exist without income.

To learn more about revenue

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5 0

1 year ago

On January 1, Year 1, the Accounts Receivable balance was $21,000 and the balance in the Allowance for Doubtful Accounts was $1,

Nikitich [7]

Answer:

$19,100

Explanation:

Accounts receivable represents amount owed to a business by its customers for products or services offered. It is payable in the future.

When collection is uncertain the amount is put in doubtful account.

If an amount is confirmed to be uncollectible it is written off as a loss

In this scenario we are calculating realisable value after write-off

Account receivable after write-off = Account receivable balance - Uncollectible amount

Account receivable after write-off= 21,000 - 530= $20,470

Allowance balance after write-off= Doubtful account - Uncollectible account

Allowance balance after write-off= 1,900 - 530 = $1,370

Net realisable value after write-off= 20,470 - 1,370= $19,100

6 0

4 years ago

On January 1, 2020, Cheyenne Company purchased 40% of Santos Corporation 465,000 outstanding shares of common stock at a total c

d1i1m1o1n [39]

Solution :

The following journal entry will be prepared to record the transactions

Date General Journal Debt($) Credit($)

Jan 1 Investment in Cheyenne Co. 2,418,000

(465,000 x 40% x $13)

Cash 2,418,000

Oct. 25 Cash (465,000 x 40% x $0.4) 74,400

Investment in Cheyenne Co. 74,400

Dec 31 Investment in Cheyenne Co. 373,600

($934,000 x 40%)

Equity income in Cheyenne Co. 373,600

4 0

3 years ago

What is trial balance

Grace [21]

Answer:

<h3>A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance. </h3>

<h3>What a trial balance is?</h3>

<h3>A trial balance is a bookkeeping worksheet in which the balance of all ledgers are compiled into debit and credit account column totals that are equal. A company prepares a trial balance periodically, usually at the end of every reporting period.</h3>

Explanation:

<h3>#BrainliestBunch</h3>

6 0

2 years ago

What is the difference between total utility and marginal​ utility?

What is the difference between total utility and marginal utility?