Which of the following is true? A. Macroeconomics is the study of the economy as a whole, while microeconomics deals with the individual decision-making units. B. Both microeconomics and macroeconomics deal with same economic issues of inflation, unemployment and growth. C. Microeconomics is the study of the economic aggregates, while macroeconomics deals with the functioning of individual industries. D. Microeconomics focuses on the determination of the national output, while macroeconomics focuses on the production and output of individual industries.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: