The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction.
Rina spends all of her money on magazines and beignets. In 2013, she earned $18.00 per hour, the price of a magazine was $9.00, and the price of a beignet was $2.00. Which of the following give the nominal value of a variable?
A. The price of a beignet is $3.00 in 2011.
B. Maria's wage is $27.00 per hour in 2011.
C. The price of a beignet is 0.33 paperback novels in 2011.

On july 9, mifflin company receives a $7,400, 90-day, 6% note from customer payton summers as payment on account. compute the amount due at maturity for the note. (use 360 days a year.)

12. nelson corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 115 units in beginning inventory 380 units produced 5,900 units sold 6,070 units in ending inventory 210 variable costs per unit: direct materials $ 46 direct labor $ 27 variable manufacturing overhead $ 3 variable selling and administrative $ 12 fixed costs: fixed manufacturing overhead $ 112,100 fixed selling and administrative $ 36,420 the company produces the same number of units every month, although the sales in units vary from month to month. the company's variable costs per unit and total fixed costs have been constant from month to month. a. prepare a contribution format income statement for the month using variable costing. unit product cost under variable costing direct materials direct labor variable manufacturing overhead variable costing unit product cost (formula)

Abakery wants to determine how many trays of doughnuts it should prepare each day. demand is normal with a mean of 5 trays and standard deviation of 1 tray. if the owner wants a service level of at least 95%, how many trays should he prepare (rounded to the nearest whole tray)? assume doughnuts have no salvage value after the day is complete.