Assuming the nation’s price level (inflation rate) rises by 8% yet the Gross Domestic Product (GDP) rises by 6% over the year, then: (a). Real GDP falls, but Nominal GDP rises.

(b). Real GDP rises, but Nominal GDP falls.

(c). Real GDP remains unchanged, but Nominal GDP falls.

(d). Real GDP and Nominal GDP both fall.

Jack manufacturing company had beginning work in process inventory of $8,000. during the period, jack transferred $34,000 of raw materials to work in process. labor costs amounted to $41,000 and overhead amounted to $36,000. if the ending balance in work in process inventory was $12,000, what was the amount transferred to finished goods inventory?

The adjusted trial balance for china tea company at december 31, 2018, is presented below:

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