The opportunity cost of attending class is the $15 that could have been made by watching a neighbor's child.
Opportunity cost refers to the benefits that one gives up in order to enjoy another benefit, that is, the benefit that is sacrificed.
In this question, two benefits are given up, but the real opportunity cost is the one that have the highest value, which is the $15.
Answer:
$795.5
Explanation:
To calculate how much 0.9% income they have to pay, the law says anybody that earns above 250000 as married couple is entitled to pay above 0.9%, so for them we will subtract the 250000 from it and also Ruth loss of 13,500
So we have;
(3520000-13500-250000)*0.9%=
$796.5
Answer:
C. Work in Process Inventory 500; Materials Inventory 300; Wages Payable 150; Manufacturing Overhead 50
Explanation:
The journal entry will definitely be as follows
Account Title Debit Credit
Work in Process Inventory $500
Raw materials inventory $300
Wages payable $150
Manufacturing overhead $50
Answer:
valuation principle
Explanation:
The basis concept behind the valuation principle is that the value of an asset is determined by the market. If an investor is evaluating any type of new project, he/she must use market prices in order to determine whether this new project will make him/her wealthier. E.g. the price of art works is determined by the amount of money that someone is willing to pay for it, not by the fact that you like it or not.
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