What is profit in an economic system? A. Profit is the investment a producer makes in the economy to achieve financial gain.
B. Profit is the net change in the value of the economy due to an exchange.
C. Profit is the financial gain resulting from an exchange.
D. Profit is the investment a consumer makes in the economy to achieve financial gain.

Diggity dank corporation uses an activity-based costing system with two activity cost pools. diggity dank uses direct labor hours as the measure of activity in the first activity cost pool and the number of orders in the second activity cost pool. the following information relates to these two activity cost pools for last year: what was diggity dank's under- or overapplied overhead for last year? a. $17,000 overapplied b. $20,000 underapplied c. $27,000 underapplied d. $73,000 overapplied

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold.required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):