Stacy Company enters into a contract with Molly Company on February 5th. The contract requires Stacy to deliver 100 units of Product A and 250 units of Product B to Molly by September 1st. Stacy is entitled to payment for Product A after 125 units of Product B have been delivered. The following deliveries are made by Stacy to Molly:
• On March 15th, Stacy delivers 100 units of Product A.
• On May 21st, Stacy delivers 100 units of Product B.
• On August 1st, Stacy delivers an additional 150 units of Product B.
The amount related to Product A to be reported on Stacy’s March 31st balance sheet, June 30th balance sheet, and September 30th balance sheet, respectively, should be presented as a:
A. Contract Asset with conditional rights; Contract Asset with unconditional rights; Accounts Receivable.
B. Accounts Receivable with unconditional rights; Contract Asset with unconditional rights; Contract Asset.
C. Contract Asset with conditional rights; Contract Asset with conditional rights; Accounts Receivable.
D. Contract Liability; Contract Asset with conditional rights; Accounts Receivable.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Emil motycka is considered an entrepreneur because

The new york company produces high quality chairs. variable manufacturing overhead is applied at a standard rate of $12 per machine hour. each chair requires a standard quantity of six machine hours. production for the month totaled 4,000 units. calculate: the standard cost per unit for variable overhead. select one: a. $130,000 b. $192,000 c. $90,000 d. $100,000