Fancy Furniture produced a batch of 2,000 coffee tables at a cost of $355,000. It was discovered that the entire batch was finished improperly. Fancy can sell the tables as seconds for $305,000 or spend an additional S315,000 to re-finish them and sell them for $605,000. In deciding whether to re-work the tables or sell them as is, management should:.1. Compare the $315,000 cost to re-finish the tables with the incremental revenue of $300,000 if the tables are re-finished. 2. Compare the $305,000 proceeds from the sale of the tables as is, with the $355.000 cost of the tables. 3. Compare the $605,000 possible revenue from re-finished tables with the total cost of $355,000 + $315,000 to re-finish. 4. Eliminate any alternative that results in a loss on the sale of the product.

Martinez manufacturing applies overhead based on direct labor hours. the company estimates that their overhead for the year will be $180,000, and that they will use 72,000 direct labor hours. during the year, martinez manufacturing actually used 75,000 direct labor hours and actual overhead costs were $190,000. at the end of the year, manufacturing overhead was: overapplied by $2,500. overapplied by $10,000. underapplied by $2,500. underapplied by $10,000.

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

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