While the last pieces of production line are being installed and cleaned, you have some time to think about how to improve the quality standards of the line. You have traditionally tested quality at three points in the process:

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

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.

What is a potential negative effect of an expansionary policy? decreased borrowing increased interest rates increased inflation decreased available credit