Which of the following best explain why the pain of losing $1,000 exceeds the pleasure of winning $1,000 for risk-averse people? check all that apply. a) the utility function of a risk-averse person exhibits the law of diminishing marginal utility. b) risk-averse people overestimate the probability of losing money. c) the more wealth that risk-averse people have, the more satisfaction they receive from an additional dollar. d) the more wealth that risk-averse people have, the less satisfaction they receive from an additional dollar.

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.