Match each term with the correct definition.
economics
opportunity cost
marginal analysis
utility
a. the next-best thing that must be forgone in order to produce one more unit of a given product.
b. the pleasure, happiness, or satisfaction obtained from consuming a good or service.
c. the social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
d. making choices based on comparing marginal benefits with marginal costs.

In addition to having a bachelor's degree in accounting, a certification will increase a tax accountant's job opportunities and allow them to file reports with the

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?