QUESTION FOUR [10] Discuss the type of price control that can be implemented by a government to protect vulnerable labour in a country from being exploited. Substantiate your answer with the aid of a diagram. This is a research-based assignment and requires evidence of research

Karen Pollard can review the accounts receivable ledger to determine the amount of accounts receivable owed to the company.

Karen Pollard should look at the accounts receivable ledger instead of the trial balance if she wants to know the amount of accounts receivable owed to the company. The trial balance provides a summary of all the accounts in the general ledger, and it balances debits and credits.

The accounts receivable ledger, on the other hand, provides a detailed record of all customer transactions and balances owed to the company. It is updated every time a sale is made on credit, a payment is received, or a customer balance is adjusted.

Therefore, Karen Pollard can review the accounts receivable ledger to determine the amount of accounts receivable owed to the company. She can easily add up the outstanding balances of all the customers to determine the total amount of accounts receivable.

In conclusion, while the trial balance provides a summary of all the accounts in the general ledger, the accounts receivable ledger provides detailed information on the accounts receivable owed to the company. Therefore, Karen Pollard should review the accounts receivable ledger to determine the amount of accounts receivable owed to the company.

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When recording credit card or debit card sales using the net method, the main answer is to record the net amount received after deducting fees and discounts.


1. Calculate the net amount: Subtract the fees and discounts associated with the card transaction from the total sales amount.

2. Record the net amount: In your accounting records, enter the net amount received as revenue.

3. Record the fees and discounts: Create an expense account for credit/debit card fees and discounts, and record these amounts in that account.

4. Reconcile transactions: Regularly compare your recorded sales with your bank statements and credit card processing statements to ensure accuracy.

This method simplifies your bookkeeping process by focusing on the actual funds received and the costs associated with card transactions.

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The salary range for white-collar federal civil service employees varies depending on their grade level, job classification, and location.

However, the approximate salary range for federal civil service employees in 2021 ranges from around $24,000 to $200,000 per year.

The General Schedule (GS) pay scale is the most common pay system used for white-collar federal employees. The GS pay scale has 15 pay grades, ranging from GS-1 to GS-15, with each grade having 10 steps. The salary for each grade and step is based on a combination of factors, including the employee's job classification, location, and years of experience.

In addition to the GS pay scale, there are several other pay systems used for federal employees, including the Senior Executive Service (SES), Federal Wage System (FWS), and Executive Schedule (ES). Each of these pay systems has its own salary range and structure.

It's important to note that federal employees may also receive additional benefits, such as health insurance, retirement benefits, and paid time off, which can add significant value to their overall compensation package.

Overall, the salary range for white-collar federal civil service employees varies based on several factors, but the approximate range is from around $24,000 to $200,000 per year.

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If the market price (P) is greater than the average variable cost (AVC) of production, the firm will continue to operate in the short run, even if it is making negative economic profits.

However, if the market price falls below the AVC, the firm will experience losses on each unit produced, and it will shut down in the short run. This is because in the short run, the firm cannot adjust its fixed costs, and therefore, it must cover at least the variable costs of production to remain open. If the market price is equal to the average total cost (ATC) of production, the firm will earn zero economic profits, meaning that it is just covering all of its costs, including its opportunity cost of capital.

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One of the competitive forces challenging the publishing industry is the customers' bargaining power. With the rise of digital platforms and self-publishing options, customers have more choices than ever before when it comes to accessing and publishing content.

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Here are the required journal entries to record the bond issuance and the first interest payment on December 31 for Seton Corporation:

1. To record the bond issuance on January 1:

2. To record the first interest payment on December 31:

Next, calculate the cash payment for interest:

Finally, calculate the amortization of the bond discount:

Now, record the journal entry for the first interest payment on December 31:

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Emmet should recognize $0 revenue on this contract in 2021 as the contract does not start until July 1st.

Since the contract begins on July 1st, Emmet will not have performed any services in 2021 prior to that date.

Therefore, no revenue should be recognized until after that date. Once the contract begins, Emmet will recognize revenue based on the fixed fee of $53,000 per year, and if the occupancy threshold is met, an additional 15% of that fee will be recognized at the end of the year.

Since Emmet estimates variable consideration as the most likely amount, they will need to reassess and adjust their revenue recognition if the actual occupancy rate differs from their estimate.

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The total variable cost, per month, is $600 million. The total fixed cost, per month, is $300,000 million. The total cost is $600.3 million.

To calculate the total variable cost, we need to multiply the variable cost per unit (labor cost plus material cost) by the total number of units produced per month.

In this case, the variable cost per unit is $200 (labor cost of $180 plus material cost of $20), and the total number of units produced per month is 3 million. Therefore, the total variable cost is $600 million.

The total fixed cost, on the other hand, is the cost that does not change with the level of production. In this case, the fixed cost is the rent of $300,000 per month.

Finally, the total cost is the sum of the total variable cost and total fixed cost. Therefore, the total cost is $600.3 million ($600 million for total variable cost plus $300,000 for total fixed cost).

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B. Bonds are a form of financial instrument through which corporations and governments borrow money from financial investors and promise to repay with interest.

What is meant by bonds?

Bonds are a form of financial instrument through which corporations and governments borrow money from financial investors and promise to repay with interest. When a company or government needs to raise money, they can issue bonds, which are essentially loans that investors can buy. The bond issuer (the borrower) promises to repay the bondholder (the lender) the face value of the bond plus interest over a certain period of time.

Bonds typically have a set maturity date, which is the date on which the bond issuer must repay the face value of the bond to the bondholder. The interest paid on the bond is typically fixed, and is determined at the time the bond is issued. Bonds are considered a form of debt, and bondholders are creditors of the bond issuer.

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A computerised cash transfer method that doesn't electronic fund transfer require checks, cash, or other paper documentation to transfer money. A memorandum serves as the source document.

The electronic movement of funds between bank accounts via computer-based systems, whether within a single financial institution or between different institutions, without the direct involvement of bank staff is known as an electronic funds transfer (EFT).According to the United States Electronic Fund Transfer Act of 1978, it is "a funds transfer initiated through an electronic terminal, telephone, computer (including online banking), or magnetic tape for the purpose of ordering, instructing, or authorising a financial institution to debit or credit a consumer's account." EFT transactions go under several names in various countries and payment systems.

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Mr. Roderick's car is worth approximately $8,984 today in 2022 to the nearest dollar.

To calculate the current value of Mr. Roderick's car, we need to take into account the depreciation that has occurred since he bought it in 2013. According to the problem, the car has depreciated by 6.5% every year since then.
To figure out the car's value in 2022, we can use the formula for exponential decay:
V = P(1 - r)^t
where V is the current value, P is the initial value (in this case, $15,000), r is the rate of decay (in this case, 6.5% or 0.065), and t is the time elapsed (in this case, 9 years).
Plugging in the numbers, we get:
V = 15,000(1 - 0.065)^9
V = 15,000(0.5266)
V = 8,984
So to the nearest dollar, Mr. Roderick's car is worth $8,984 today in 2022.

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Larry has identified an opportunity for a new search engine or online platform that organizes and presents information or news in a more effective and efficient way than existing websi-tes.

By recognizing the competitive flaws of current search engines and identifying a need for a better solution, Larry has stumbled upon a potential business idea that could offer value to internet users. Larry's observation is that the internet is un-organized. The internet is a vast and ever-growing source of information, with countless websites, articles, blogs, and new search engine that is constantly being updated.

Nonetheless, by recognizing a need and identifying an opportunity, Larry has taken an important first step towards creating a valuable new product or service that could benefit millions of internet users around the world.

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Public goods and common resources when are generally associated with negative externalities. Issues related to these assets are known as Common Resources & Tragedy of the Commons.

Both public goods and common resources when are generally associated with positive externalities. The problem that arises from these externalities is known as Public Goods & free-rider problem.

Externalities, also known as external costs or benefits, are the result of actions of one or more parties that indirectly affect unrelated third parties. Externalities are non-priced items that are part of consumer and producer market transactions. An example of air pollution is caused by automobiles. Neither manufacturers nor users of motor vehicle transport are responsible for bearing the costs of air pollution to society as a whole. Another example is water pollution from businesses and factories.

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Complete question:

Both public goods and common resources involve externalities.

are generally associated with negative externalities. The problem associated with these goods is known as

are generally associated with positive externalities. The problem that arises from these externalities is known as

In the single-period inventory model, the overage cost is the expense associated with having excess inventory at the end of the period.

Overage cost is incurred when a business purchases or produces more inventory than it can sell within a given period, resulting in unsold inventory at the end of the period. The overage cost may include costs such as storage, handling, and disposal of unsold inventory, as well as any lost opportunity cost associated with tying up capital in excess inventory.

The objective of the single-period inventory model is to determine the optimal order quantity for a product that maximizes the expected profit or minimizes the expected loss. This model considers the cost of understocking, which is the cost of lost sales when demand exceeds the available inventory, and the overage cost, which is the cost of holding excess inventory.

To find the optimal order quantity, businesses need to balance the costs of understocking and overage. The optimal order quantity is the quantity that minimizes the expected total cost, which includes both understocking and overage costs.

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The velocity in year 2 is approximately 62% of the velocity in year 1.

Velocity can be calculated using the equation M x V = P x Y, where M is the money supply, V is velocity, P is the price level, and Y is real GDP.

We can rearrange the equation to solve for V: V = (P x Y) / M

Using the data given:

In year 1, M = $450 and Y = $1,350, so P = (M x V) / Y = (450 x V) / 1350 = 0.333V

In year 2, M = $500 and Y = $1,600, so P = (M x V) / Y = (500 x V) / 1600 = 0.3125V

To find the change in velocity from year 1 to year 2, we can divide the velocity in year 2 by the velocity in year 1:

V2 / V1 = (P2 x Y2) / (P1 x Y1)

V2 / V1 = (0.3125V x 1600) / (0.333V x 1350)

V2 / V1 = 0.6176

Therefore, the velocity in year 2 is approximately 62% of the velocity in year 1.

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Jeremy wants to form a cross-functional team, which includes a department head from each area of the company, to make a decision about purchasing an additional warehouse.

A cross-functional team is a group of individuals from different functional areas of a company who come together to work on a specific project or problem. In Jeremy's case, he wants to involve department heads from each area of the company in the decision-making process for purchasing an additional warehouse.

By bringing together different perspectives and expertise, cross-functional teams can help ensure that decisions are well-informed and take into account the needs and objectives of all areas of the business.

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1. Incumbent firms offering a cheap introductory offer to their services is a way of driving potential entrants out of the market.

By offering a lower price than their competitors, the incumbent firm can price its services at a level that makes it difficult for potential entrants to enter the market. This strategy can lead to a situation where the incumbent firm has a monopoly over the market, as potential entrants cannot compete with the incumbent's low prices.

2. Monopolies often have many differentiated brands for similar products in order to maximize their profits.

By offering a variety of products, the monopoly can charge different prices for each product, allowing them to capture a larger market share and maximize their profits.

3. Fast food chains offer a combination of items ("value meal" etc.) and a la carte pricing because it is more profitable than just one or the other.

By offering both options, the chain can attract both cost-conscious customers and those who are willing to spend more money on a meal. This allows the chain to capture a larger market share and increase profits.

4. Coach seats being terrible on airplanes is a form of price discrimination because it allows airlines to charge a premium for first class seats.

By offering a lower-quality experience at a lower price in coach, airlines can encourage customers who want a better experience to pay more for a first class seat.

5. First-degree price discrimination is when a firm charges different prices for the same product to different customers. Second-degree price discrimination is when a firm charges different prices for different quantity levels. Third-degree price discrimination is when a firm charges different prices for different groups of customers.

The first-degree price discrimination always improves efficiency because it allows the firm to capture the maximum possible consumer surplus. The other two types of price discrimination do not always improve efficiency because they may result in some customers paying a higher price than they would under perfect competition.

6. Nash Equilibrium and Dominant Strategy Equilibrium are two solution concepts used in game theory. Nash Equilibrium is a set of strategies where each player's strategy is optimal given the strategies of the other players. It exists when no player can benefit by unilaterally changing their strategy, and is unique when there is only one Nash Equilibrium.

Dominant Strategy Equilibrium is a set of strategies where each player's strategy is optimal regardless of the strategies of the other players. It exists when each player has a strategy that dominates all other strategies, and is invariant when each player's best strategy does not change regardless of the strategies of the other players.

In games with multiple Nash Equilibria, the dominant strategy equilibrium is often preferable as it simplifies the analysis and is more robust to changes in the game.

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The most likely forecasting method that the pizza chain will deploy is time series forecasting.

Time series forecasting is a statistical technique that is used to make predictions based on historical data. It involves analyzing past patterns and trends in data to forecast future values. In this case, the pizza chain would use historical sales data to forecast the demand rate for each store for each hour in the day.

Time series forecasting is the most likely method that the pizza chain will deploy to forecast the demand rate for each store for each hour in the day. This technique involves analyzing historical data to identify patterns and trends, which can then be used to make predictions about future values. Time series forecasting is commonly used in industries such as finance, economics, and marketing, and it is particularly useful in situations where there is a significant amount of historical data available.

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The most contentious budgetary issue in all areas of a health care organization is the setting of prices.

Setting prices for health care services is a complex process due to the numerous factors that need to be taken into consideration, such as the cost of providing the service, the value of the service to the patient, the affordability of the service for the patient, and the cost of providing the service relative to the cost of providing similar services in the market.

The challenge is to strike a balance between the cost of providing the service and the value of the service to the patient, while also ensuring that the service is affordable.

This process is further complicated by the fact that providers must also consider the cost of providing the service relative to the cost of providing similar services in the market. This creates a difficult situation in which providers must decide how to price their services in order to remain competitive, while still providing affordable care for patients.

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Job design, job analysis, and job descriptions can support the goal of adding patient safety. At First Medical Center by providing workers with clear prospects and task structure.

Job design can structure tasks to enhance safety and minimize pitfalls. Job analysis can identify the specific capabilities needed for each job part. Job descriptions can outline the prospects, conditions, and responsibilities associated with each job part, including safety-related duties. Well- written job descriptions can help workers know what's anticipated of them while focusing on patient safety.

Exercising these measures can produce a safety culture at First Medical Center while perfecting patient satisfaction and overall healthcare quality.

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The standard fixed factory overhead rate per machine hour (mh) is $1.09 and the denominator activity level used to establish the fixed factory overhead application rate is 4,500 machine hours.

To calculate the standard fixed factory overhead rate per machine hour (mh), we need to subtract the standard variable factory overhead rate per mh from the total standard overhead rate per mh. Therefore, the standard fixed factory overhead rate per machine hour (mh) is:

Standard fixed factory overhead rate per mh = Total standard overhead rate per mh - Standard variable factory overhead rate per mh

Standard fixed factory overhead rate per mh = $4.99 - $3.90

Standard fixed factory overhead rate per mh = $1.09

The denominator activity level that was used to establish the fixed factory overhead application rate is the number of machine hours allowed for the units manufactured. In this case, the standard mhs allowed for the units manufactured is 4,500.

a. Total flexible-budget variance:

The total flexible-budget variance is the difference between the actual factory overhead cost and the flexible budget for the actual level of activity. It is calculated as follows:

Flexible-budget amount = Budgeted fixed factory overhead cost + (Standard variable factory overhead rate per mh x Actual mhs)

Flexible-budget amount = $4,800 + ($3.90 x 3,900)

Flexible-budget amount = $19,110

Total flexible-budget variance = Actual factory overhead cost - Flexible-budget amount

Total flexible-budget variance = $16,400 - $19,110

Total flexible-budget variance = -$2,710 (Unfavorable)

b. Production volume variance:

The production volume variance measures the impact of the difference between the actual level of activity and the budgeted level of activity on the fixed factory overhead cost. It is calculated as follows:

Production volume variance = Budgeted fixed factory overhead cost - (Standard fixed factory overhead rate per mh x Actual mhs)

Production volume variance = $4,800 - ($1.09 x 3,900)

Production volume variance = $861 (Favorable)

c. Total overhead cost variance:

The total overhead cost variance is the difference between the actual factory overhead cost and the total budgeted factory overhead cost. It is calculated as follows:

Total overhead cost variance = Actual factory overhead cost - Budgeted factory overhead cost

Total overhead cost variance = $16,400 - $4,800

Total overhead cost variance = $11,600 (Unfavorable)

The production volume variance is $861 (Favorable). This indicates that the actual machine hours used were less than the budgeted machine hours, resulting in lower fixed factory overhead costs. The favorable variance means that the company saved money on fixed factory overhead costs due to producing fewer units than budgeted.

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The average inflation per year for this industry is 4.4% if a firm is in an industry where PPI 5 years ago was 158. today, PPI is 197.

Current PPI = 197

5 years ago PPI = 158

The average inflation per year can be calculated by using the formula:

Average inflation / year = ((Current PPI / Base PPI)^(1/number of years)) - 1

Average inflation per year = [tex]\frac{197}{158}^{(\frac{1}{5} )} -1[/tex]

Average inflation per year  =[tex]1.245^{0.2} -1[/tex]

Average inflation per year  = 1.044 - (1 x100)

Average inflation per year  = 4.4%

Therefore,  we can conclude that the average inflation per year for this industry is 4.4%.

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To avoid errors in writing, it is important to take the following precautions with every business communication are  Proofreading, Use spell check, Avoid jargon, Double-check names and titles, Use a professional tone, Be mindful of formatting.

Proofreading: Always proofread your communication before sending it out. This will help you catch any spelling, grammar, or punctuation errors. Use spell check: Make sure to use spell check to catch any typos. However, be careful not to rely too heavily on spell check, as it may not catch all errors.
Avoid jargon: Use clear and concise language that is easy to understand. Avoid using industry-specific jargon or acronyms that may not be familiar to the recipient. Double-check names and titles: Make sure to double-check the spelling of the recipient's name and their job title.
Use a professional tone: Use a professional tone and avoid using slang or informal language.
Be mindful of formatting: Ensure that your communication is formatted correctly and is easy to read. Use appropriate headings, bullet points, and spacing to make it more visually appealing.
By taking these precautions, you can help ensure that your business communication is error-free and effectively conveys your message.

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The value of the three-month-at-the-money European call option on XYZ Corporation's stock, priced at $100 when the option is purchased, is $3.75.

To calculate the value of a three-month-at-the-money European call option on XYZ Corporation's stock, we need to consider the possible outcomes and their probabilities.

Given that the stock price can rise or fall by $30 each month with equal probability, we can construct a binomial tree to visualize the possible stock price movements over the three-month period. The stock price starts at $100, and at the end of each month, it can either go up to $130 or down to $70 with a 50% chance for each outcome.

Let's construct the binomial tree:

             $100

          /         \

     $130       $70

     /    \     /    \

 $160  $100  $100  $40

From the tree, we can see the following possible outcomes and their probabilities:

Next, we need to determine the value of the call option at each of these outcomes. Since the option is at-the-money, the strike price is equal to the initial stock price of $100.

For outcome 1, where the stock price rises to $160, the option is worth $60 ($160 - $100). Since the probability is 0.25, the value of this outcome is 0.25 × $60 = $15.

For outcomes 2 and 3, where the stock price rises to $130 and then falls to $100, or falls to $100 and then rises to $130, respectively, the stock price at the end of three months is equal to the initial stock price. In both cases, the option is worthless, so the value of these outcomes is $0.

For outcome 4, where the stock price falls to $40, the option is also worthless, so the value of this outcome is $0.

Now, we can calculate the value of the call option by taking the weighted average of the values of these outcomes:

Value of the call option = (0.25 × $15 + 0.25 × $0 + 0.25 × $0 + 0.25 × $0) = $3.75

Therefore, the value of the three-month-at-the-money European call option on XYZ Corporation's stock, priced at $100 when the option is purchased, is $3.75.

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In a perfectly competitive market, Farmer Smith charges $3.25 per bushel for his wheat while the market price is $3.00 per bushel. The correct statement is: Farmer Smith will sell no wheat at $3.25 per bushel.

In a perfectly competitive market, all firms are price takers, meaning they must accept the market price determined by the forces of supply and demand. Since the market price of wheat is $3.00 per bushel, any attempt to charge a higher price will result in no sales, as buyers will choose to purchase wheat from other suppliers at the lower market price.

In this scenario, Farmer Smith is trying to charge $3.25 per bushel for his wheat, which is above the market price. Since wheat is a homogenous product with no differentiation among suppliers, consumers will not have any incentive to buy Farmer Smith's wheat at the higher price.

As a result, Farmer Smith will sell no wheat at $3.25 per bushel and his profit will not increase as intended.If Farmer Smith wants to make more money to pay for a new tractor, he must find other ways to increase his revenue, such as increasing the quantity of wheat produced or reducing production costs to increase his profit margin at the market price of $3.00 per bushel.

Charging a higher price than the market price in a perfectly competitive market will not result in increased profits, as buyers will simply choose to purchase from other suppliers offering the product at the market price.

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In the long run, firms can enter or exit the market until the price equals the average total cost of production ($16), but once the market reaches a certain size, the quantity supplied can no longer increase.

To determine how much each firm produces, we need to find the quantity at which the marginal cost equals the price. Since the average variable cost is given as $10 at a quantity of 4, we can assume that the marginal cost equals the average variable cost, and therefore each firm will produce 4 units.

Since there are 100 firms, the total quantity supplied in the market is 400 units (4 units per firm * 100 firms).

In the long run, firms can enter and exit the market. If the price is greater than the average total cost, then new firms will enter the market in search of profit. If the price is less than the average total cost, then some firms will exit the market due to losses.

In this case, the price is below the average total cost ($16), so some firms will exit the market. As the number of firms decreases, the supply curve shifts to the left, which increases the price. The quantity supplied by each firm will remain the same at 4 units, but the total quantity supplied in the market will decrease.

The long-run supply curve for this market, the x-axis represents the quantity supplied per firm, and the y-axis represents the price. The long-run supply curve is horizontal at a price of $16 until the quantity supplied reaches 100 firms, at which point the supply curve becomes vertical at a quantity of 400 units.

This is because in the long run, firms can enter or exit the market until the price equals the average total cost of production ($16), but once the market reaches a certain size, the quantity supplied can no longer increase even if more firms enter the market.

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To calculate the total profit received from the top four brands by units sold, we would need to know the profit margin for each brand and the total number of units sold by Carey's Extreme Sports for each brand. Without this information,

Without knowing the profit margin and total units sold for each of the top four brands, it is not possible to calculate the total profit received from those brands by Carey's Extreme Sports. The profit margin is the percentage of revenue that a company earns as profit after deducting all expenses. Once the profit margin is known for each brand, it can be multiplied by the revenue earned from each brand to calculate the profit earned from each brand. Then the profits earned from the top four brands can be added together to determine the total profit received from those brands. Similarly, the total number of units sold for each brand needs to be known to calculate the profit per unit, which can then be multiplied by the number of units sold to determine the total profit earned from each brand.

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If we put $57,000 in the bank today at a speed of 6.5%, it will take us 20.48 years to pay for a $207,000 Ferrari. We use the Future Worth Equation while utilizing 57,000 as the present value to decide what amount of time it will require to procure a Ferrari.

Future value FV = [tex]PV (1+r)^N[/tex]

Payments to achieve future value N = Log(FV/PV)/ Log(1+r)

Future value FV= 194,000

Present value PV= 44,000

Interest rate:  

Stated rate  5.2%

/ number of intensifying periods each year 1

Interest rate per period r= 5%

Periods to achieve future value N = Log( 194000/44000 )/ Log( 1+ 0.052 )

N= 29.27

The quantity of years is 29.27

An amount of cash is worth more now than it will be tomorrow, as indicated by present value.

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Warren Corporation's assets at the end of April are  $345,000, obtained by adding the starting assets, plus the increase in equity from additional stock, plus the purchase of a building and short-term investments. the  correct option is C).

To determine Warren Corporation's total assets at the end of April, we need to account for the various transactions that occurred during the month.

Starting assets = $ 240,000

Starting liabilities = $ 60,000

Additional shares of stock were sold for $ 20,000 cash.

This transaction increases both assets and equity by $ 20,000.

Assets = $ 240,000 + $ 20,000 = $ 260,000

Liabilities = $ 60,000

Equity = $ 200,000

A building costing $ 95,000 was purchased using $ 10,000 cash and by signing an $ 85,000 long-term note payable.

This transaction increases assets and liabilities by $ 95,000 and $ 85,000, respectively.

Assets = $ 260,000 + $ 95,000 = $ 355,000

Liabilities = $ 60,000 + $ 85,000 = $ 145,000

Equity = $210,000

Short-term investments costing $9,000 were purchased using cash.

This transaction increases assets by $$ 9,000.

Assets = $355,000 + $ 9,000 = $ 364,000

Liabilities = $145,000

Equity = $219,000

$ 10,000 was paid to an employee as a loan; the employee signed a six-month note in exchange for the loan.

This transaction does not affect assets, liabilities, or equity. It is a loan receivable that will be recorded as an asset when the payment is received.

Therefore, the total assets at the end of April are $364,000.

The correct Answer is (c) $ 345,000.

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The completion of goods in a manufacturing process results in a transfer of the cost of goods from the  (WIP) inventory account to the Finished Goods inventory account. The correct answer is option d.

This transfer is recorded as a decrease in the WIP inventory account and an increase in the Finished Goods inventory account.

The WIP inventory account is used to record the cost of goods that are in the process of being manufactured but are not yet complete. As goods are completed, their cost is transferred out of the WIP inventory account and into the Finished Goods inventory account.

Therefore, the correct answer is d. Yes/Yes. When using the perpetual inventory system, both the WIP inventory account and the Finished Goods inventory account are updated simultaneously with each production activity.

This ensures that the inventory accounts are accurate in real-time, and that the cost of goods sold can be calculated accurately at any given time.

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