Jack is a talented investor, but his earnings vary considerably from year to year. In the coming year he expects to earn $250,000 with good luck or $90,000 with 2 bad luck. Somewhat oddly, given his chosen profession, Jack is risk averse, so that his utility is equal to the square root of his income. The probability of Jack’s having good luck is 0.5. Required:
a. What is Jack's expected utility for the coming year?
b. What amount of certain income would yield the same level of utility for Jack as the expected utility in part (A)?

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.