He following annual amounts pertain to the Wolf Company: Estimated Overhead Costs $ 101,988 Estimated Direct Labor hours 67,992 If actual overhead costs for the year amounted to $106,000 and actual direct labor worked amounted to 70,000 hours, the year-end adjustment necessary to close the Manufacturing Overhead account would Multiple Choice decrease the amount of cost of goods sold . not affect the amount of cost of goods sold. increase the amount of cost of goods sold. There would be no adjusting entry at the end of the accounting period.

Someone knows the answer i need in the exam

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Why do police officers get paid less than professional baseball players?