Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $6,400 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $5,200. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,350. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

Amanda works as an industrial designer

Contrast two economies that transitioned to capitalism and explain what factors affected the ease kf their transition as welas the “face” of capitalism that each has adopted