On April 1, Richardson Company paid $3,300 for one year of advertising in advance. On April 1, Richardson Company debited Advertising Expense, which is an alternate way of recording the initial expenditure. Assume that the advertising is used evenly throughout the year. Required: Journalize the adjusting entry on December 31.

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

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.)

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )