Select all of the following descriptions that are true about market economies. select all that apply:

a. the government decides what methods of production will be used and how much workers will be paid.
b. a market economy is based on private enterprise.
c. economic effort is devoted to goals passed down from a ruler or ruling class.
d. a person's income is based on his or her ability to convert resources (especially labor) into something society values.

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Selected transactions of the carolina company are listed below. classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash activity. 1. common stock is sold for cash above par value. 2. bonds payable are issued for cash at a discount