The three basic functions of money are multiple choice 1 medium of exchange, record of account, and assessment of value. medium of exchange, unit of account, and store of value. account of exchange, medium of account, and store of value. medium of exchange, store of account, and unit of value. b. Rapid inflation can undermine money’s ability to perform its functions. During periods of runaway inflation, multiple choice 2 the value of money falls so money cannot serve as a measure of price. money cannot hold sufficient value to act as a medium of value. the future value of money cannot be predicted so money cannot act as a predictor of value. people often revert to barter because money fails as a medium of exchange.

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold.required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

What are the general categories of capital budget scenarios? describe the overall decision-making context for each.

Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be: