Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:Selling price 156 Units in beginning inventory 0Units produced 9,500Units sold 9,100Units in ending inventory 400 Variable costs per unit: Direct materials 29Direct labor 71Variable manufacturing overhead 17Variable selling and administrative expense 21Fixed costs: Fixed manufacturing overhead 142,500Fixed selling and administrative expense 9,900What is the net operating income for the month under absorption costing?a. $35,400 b. $11,400
c. $17,400
d. $6,000

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

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:

China white was the black market selling of ivory, in which the profit was redistributed back into the trafficking of heroin.