Consider a market where supply and demand are given by st =16 + px and de = 92 - zpx suppose the governmentimposes a price floor of s40, and agrees to purchase any and all units consumers do not buy at the floor price of $40 perunita. determine the cost to the government of buying firms' unsold units. b. compute the lost social welfare (deadweig ht loss) that stems from the $40 price floor.

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: