For a market to be competitive: a. each buyer and seller is small, relative to the whole market; no single decision-maker has any influence over the market price. b.sellers must produce goods and services that are different from their competitors. c.sellers should have substantial pricing power. d.the price must be a fair price

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: