Baker Inc. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.
Work In Finished Cost of Total
Process Goods Goods Sold
Direct materials. $2,260 $7,100 $26,500 $35,860
Direct labor 4,650 15,620 58,300 78,570
Manufacturing overhead 2.640 6,600 23,760 33,000
applied
Total $9,550 $29,320 $108.560 $147430
Manufacturing overhead for the month was underapplied by $4,000. The
Corporation allocates any underapplied or overapplied manufacturing overhead
among work in process, finished goods, and cost of goods sold at the end of
the month on the basis of the manufacturing overhead applied during the month
in those accounts. The journal entry to record the allocation of any underapplied
or overapplied manufacturing overhead for March would include the following:
a. debit to Cost of Goods Sold of $3,080.
b. debit to Cost of Goods Sold of $149,410.
c. credit to Cost of Goods Sold of $3,080.
d. credit to Cost of Goods Sold of $149,410.

Part two of threewhich accurately describes a cause for inflation? the federal reserve requires banks to keep more money on reserve. the federal reserve raises interest rates and slows economic activity. the government places too much money into circulation. the government places too little money into circulation. what are consequences of rapid inflation? (select all that apply.) savings accounts become less desirable because interest earned is lower than inflation individual purchasing power increases, which results in an increase in demand. individual purchasing power decreases, which results in a decrease in demand. people postpone purchasing expensive items, such as homes, until prices drop.how does the federal reserve stabilize and safeguard the nation’s economy? (select all that apply.) it distributes currency and oversees fiscal conditions. it implements american monetary policy. it regulates banks and defends consumer credit rights. it regulates and oversees the nasdaq stock exchange. what are functions of the federal reserve? (select all that apply.) it offers financial services within the government. it creates us coins. it prints us dollars. it enters us currency into circulation.how does the federal reserve bank fit into the balance of power among the three branches of the federal government established by the constitution? the chair of the federal reserve is appointed by the president and approved by the senate. the chair of the federal reserve is elected by popular vote. the chair of the federal reserve is appointed by congress and approved by the supreme court. the chair of the federal reserve is appointed in a secret meeting.who appoints the board of governors of the federal reserve system? the us president the us supreme court the us house of representatives the us senatewhy is federal oversight crucial to the operation of the federal reserve bank? the federal reserve is the nation’s central banking system. the federal reserve controls the nomination of legislators to committees. the federal reserve funds mandatory government expenditures. the federal reserve sets rules and regulations for the new york stock exchange.what is the government accountability office (gao)? an independent agency that answers to congress and audits the federal reserve an internal review agency of the federal reserve used to promote its mission a government agency that answers to congress and audits the united states mint a private agency that advises the dent about fiscal policyhow does the law of comparable advantage lead to international trade? countries that do not engage in trade are in a stronger position economically than countries that do trade. countries that cannot produce products efficiently have to trade for the goods and services that other countries have. countries that have more resources are able to trade for a wider variety of items that can be offered for sale. countries make products they can produce efficiently and are able to get the rest of what they need through trade.when might a country produce a product even though it cannot do so efficiently? (select all that apply.) to ensure national security to minimize the sale of exports to ensure a trade deficit to increase the balance of trade