If a business operates in an industry that experiences significant cost changes, it would be to its benefit to use the first-in, first-out (FIFO) method

South State, Inc used $153,000 of direct materials and incurred $63,000 of direct labor costs during the year

Indirect labor amounted to $270,000, while indirect materials used totaled $53,000. Other operating costs pertaining to the factory included utilities of $135,500; maintenance of $70,260; repairs of $53,400; depreciation of $133,000; and property taxes of $74,640. There was no beginning or ending finished goods inventory, but Work-in-Process inventory began the year with a $5,000 balance and ended the year with a $7,400 balance. How much is the cost of goods manufactured? A) $12,400 B) $1,003,400 C) $1,010,800 D) $1,005,800

Pavel is an inventor. He read that there were several million people who could not sleep at night until they looked under the bed. He invented a light that could be put under the bed and went on automatically when someone looked there

Pavel's product is designed to help people perform a ________. A) ritual B) symbolic exchange C) convention D) rite of passage