Penny, inc. employs a process costing system. direct materials are added at the beginning of the process. here is information about the july activities:
on july 1:
beginning inventories 850 units, 60% complete
direct materials cost $5,000
conversion costs $4,000
during july:
number of units started 15,000
direct materials added $155,000
conversion costs added $83,520
on july 31:
ending inventories 1,600 units, 40% complete
using the fifo method and rounding cost per unit to the nearest whole dollar, the cost of goods completed and transferred out during july was
a. $227,270
b. $236,905
c. $228,200
d. $223,400

On december 31, 2011, daggett company issued $750,000 of ten-year, 9% bonds payable for $700,353, yielding an effective interest rate of 10%. interest is payable semiannually on june 30 and december 31. prepare journal entries to reflect (a) the issuance of the bonds, (b) the semiannual interest payment and discount amortization (effective interest method) on june 30, 2012, and (c) the semiannual interest payment and discount amortization on december 31, 2012. round amounts to the nearest dollar.

Uppose that the federal reserve purchases a bond for $100,000 from donald truck, who deposits the proceeds in the manufacturer’s national bank. what will be the impact of this purchase on the supply of money? the money supply will increase by $100,000. the money supply will increase by $80,000. the money supply will increase by $500,000. this action will have no effect on the money supply. if the reserve requirement ratio is 20 percent, what is the maximum amount of additional loans that the manufacturer’s bank will be able to extend as the result of truck’s deposit? the maximum additional loans is $100,000. the maximum additional loans is $80,000. the maximum additional loans is $20,000. the maximum additional loans is $500,000. given the 20 percent reserve requirement, what is the maximum increase in the quantity of checkable deposits that could result throughout the entire banking system because of the fed’s action? this action will have no effect on the money supply. the money supply will eventually increase by $80,000. the money supply will eventually increase by $500,000. the money supply will eventually increase by $100,000.

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false