Answer:
The answer is C
Explanation:
I took the quiz and got it right.
Answer:
Software solutions was hired to install and update software.
When job was completed,
Total revenue paid by Jones company = $1,800
As of December 31,
software installation completed = 1/2
Service revenue = 0.5 × $1,800
= $900
Therefore, the adjusted journal entry for the revenue is as follows:
On 31st December,
Accounts receivable A/c Dr. $900
To Service revenue $900
(To record revenue earned)
Answer:
b. There are more opportunities for advancement in technical schools.
Explanation:
Technical schools teach more specific courses and generally last one or two years. If a student needs to get some type of specific education that allows to work fast, e.g. becoming an electrician, a technical school is a better option. While college careers yield higher benefits in the long run, in the short run some people might need to get technical degrees.
Answer:
(C) Product X = $880; Product Y = $2,240
Explanation:
The applied overhead will be calculate by the product of the cost diver and the overhead rate:
<u>Cost driver for each product:</u>
Product X 3MH and 1LH
Product Y 4MH and 8LH
<u />
<u>Overhead rate: </u>
240 per machine hour
and 160 per labor hour
Product X 3MH x $240 + 1LH x $160 = 880
Product Y 4MH x $240 + 8LH x $160 = 2,240
Answer:
Total utility
Marginal utility
Explanation:
Total utility is the total satisfaction derived from a particular activity. As consumption increases, total utility increases at a decreasing rate.
Marginal utility is the utility derived from one more unit of consumption. As consumption increases, the satisfaction derived falls.
For example, the marginal utility a man who is extremely thirsty would derive from the first bottle of cold water would be the highest. The utility he derives from additional bottles of water would successively decrease.
The law of diminishing marginal utility states that as consumption increases, marginal utility falls.
I hope my answer helps you