1.1.9 QUIZ. How the Economy Anects Business and Markeung Question 9 of 10
During a depression or recession, which of the following is most likely to
happen to interest rates?
A. Interest rates will likely rise as the Federal Reserve board
decreases inflation rates.
O B. The Federal Reserve Board will likely lower interest rates.
C. The Federal Reserve Board will likely raise interest rates.
O D. Interest rates will likely decrease as the Federal Reserve Board
increases inflation rates.

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.