Suppose there are a series of large forest fires, which affect the lumber industry while, at the same time, consumers prefer less wooden furniture. the wooden furniture market would experience: a) an increase in price and an increase in quantityb) an increase in quantity and an indeterminate change in pricec) a decrease in quantity and an indeterminate change in priced) an increase in price and an indeterminate change in quantity

If the supply of aisle seats and middle seats on an airplane is the same, but the demand for aisle seats is greater than the demand for middle seats, then the equilibrium price of aisle seats will be less than the equilibrium price of middle seats. true false

Which term refers to the cost that motivates an economic decision

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.