Jacques has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontransferable ticket. Now Kyoko, whom Jacques has wanted to date for a long time, asks him to a party. Jacques would prefer to go to the party with Kyoko and forgo the opera, but he doesn’t want to waste the $100 he spent on the opera ticket.
From the perspective of an economist, if Jacques decides to go to the concert with Kyoko, what has he just done?a. Made a choice that was not optimalb. Correctly ignored a sunk costc. Incorrectly allowed a sunk cost to influence his decision

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6