When a publicly traded firm is acquired by another firm, the purchase price is almost always

Which of the following statements regarding manufacturing overhead allocation is true?

A) It includes all manufacturing costs that cannot be directly traced to a product or service. B) The costs can be grouped only as a single indirect-cost pool. C) Total costs are unknown at the end of the accounting period. D) Allocated amounts are debited to Manufacturing Overhead Control.

Porches, Inc. sells lawn furniture. Selected financial information for the most recent year follows

Beginning merchandise inventory on January 1 was $33,000. Ending merchandise inventory on December 31 was $35,000. Purchases during the year were $92,000. Selling and administrative expenses were $75,000. Sales for year were $262,000. What was cost of goods sold? A) $160,000 B) $94,000 C) $90,000 D) $95,000