Answer:
B. Kenji has the lowest opportunity cost.
Explanation:
The opportunity cost is those resources that a person gives up when making a choice or making a decision. If Lucia stopped working for an hour, stop receiving $ 120
. Otherwise, If Kenji stops working four hours, to shear the llamas, he stops receiving $ 80. Then, his opportunity cost is the lowest.
Answer:
The bad debt expense for the year is 3,000 dollars
Explanation:
We should solve for the bad debt expense with a reverse engineer on the allowance T account
Allowance
<u> DEBIT CREDIT </u>
Beginning 25,000
write-off 10,000
bad debt <u> X </u>
Ending 18,000
25,000 - 10,000 + X = 18,000
15,000 + X = 18,000
X = 18,000 - 15,000
X = 3,000
People pay Federal, Local, and State tax.
Hope this helped!
Answer:
A $660,030
Explanation:
Total cost of units completed and transferred out = Units Completed and Transferred x Cost per Equivalent Unit
Therefore,
Total cost of units completed and transferred out = 117,000
Answer:
C. Many decisions are made on the margin
Explanation:
Opportunity cost refers to the benefits foregone of a non chosen alternative when another alternative is chosen.
In the given case, time is a scarce resource and limited. Rajiv has to practice for triathlon which comprises of 3 events. To win the triathlon, he needs to perform well collectively.
If he undertakes to swim more, the time available for other 2 activities need to be sacrificed i.e running and biking. Rajiv has planned to sacrifice biking marginally in the favor of swimming. The lesser an activity is sacrificed, the lower would be it's opportunity cost.
Whereas his wife's approach in short can be called "all or nothing" approach which relates to completely withdrawing from other activities and accepting one activity fully.
Rajiv is trying to make little changes instead of fully giving up on one activity and totally taking up another. This involves lesser cost in the form of opportunity cost, at the same time help him prepare for all three activities efficiently.
