Cultures that score low on uncertainty avoidance tend to be less open to change and new ideas

The following information was taken from the accounting records of Henry Manufacturing Company:

Direct materials purchased $75,000 Direct materials used $56,000 Direct manufacturing labor costs $20,000 Indirect manufacturing labor costs $10,000 Sales Salaries Expense $35,000 Miscellaneous Factory Expenses $5,000 Administrative Expenses $40,000 Finished Goods Inventory, beginning $10,000 Finished Goods Inventory, end $12,000 Work-In-Process Inventory, beginning 0 Work-In-Process Inventory, end 0 What is Cost of Goods Manufactured? A) $86,000 B) $89,000 C) $91,000 D) $96,000

In 2015, Morton Co sold 100 hot air balloons at $4,000 each. The balloons carry a 5-year warranty for defects. Morton estimates that repair costs will average 4% of the total selling price. The estimated warranty liability at the beginning of the year was $42,000 . $11,000 in claims was actually incurred during the year to honor their warranty. What was the balance in the ending estimated

warranty liability at the end of the year? a. $47,000 b. $42,000 c. $37,000 d. $ 5,000