Aship has a single cargo hold which has a weight capacity of 70,000 pounds and a volume capacity of 30,000 cubic feet. the shipowner has contracted to carry loads of packaged beef. the total weight of the available beef is 65,000 pounds; the total weight of the available grain is 75,000 pounds. the volume per mass of the beef is 0.2 cubic foot per pound, and the volume per mass of the grain is 0.4 cubic foot per pound. the profit for shipping beef is $0.35 per pound, and the profit for shipping grain is $0.12 per pound. the shipowner is free to accept all or part of the available cargo; he wants to know how much meat and grain to accept in order to maximize profit.

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

What is used by accountant to analyze transactions ?