Kline corp. recognizes revenue over time to account for long-term contracts. the contract price is $5 million, total construction costs are $3.75 million, actual costs incurred during the first year are $1.5 million, and the revenue recognized is $2 million. the journal entry to record revenue during year 1 is: (select all that apply.) credit: revenue $2 million.

The journal entry which is to be recorded is shown below:

Explanation:

Contract Price A/cDr    $500,000

Cost of constructionA/cDr   $150,000

                 Revenue A/cCr   $2,000,000

As the company recording the revenue, so the revenue account is credited. It involves the cost of construction which is debited and the contract price account is debited.

Note: The options are missing. So, proving the journal entry in the answer.

answer: marginal utility of the fourth brownie is 0.

explanation: marginal utility is the addtional utility gained from the consumption of one more unit of a good. it is given by,

so, marginal utility at the 4th unit will be given by

since, the values are not given here, you can simply find marginal utility at fourth unit by subtracting total utility at 3rd unit from total utility at 4th unit.