Winston Corp., a U. S. company, had the following foreign currency transactions during 2018: (1) Purchased merchandise from a foreign supplier on July 16, 2018 for the U. S. dollar equivalent of $47,000 and paid the invoice on August 3, 2018 at the U. S. dollar equivalent of $54,000. (2.) On October 15, 2018 borrowed the U. S. dollar equivalent of $315,000 evidenced by a non-interest-bearing note payable in euros on October 15, 2019. The U. S. dollar equivalent of the note amount was $295,000 on December 31, 2018, and $299,000 on October 15, 2019. What amount should be included as a foreign exchange gain or loss from the two transactions for 2018?
A) S9,000 gain.
B) S9,000 loss
C) S14,000 gain.
D) S13,000 gain.
E) S11,000 loss

Knight company reports the following costs and expenses in may. factory utilities $17,400 direct labor $70,300 depreciation on factory equipment 13,850 sales salaries 46,700 depreciation on delivery trucks 3,900 property taxes on factory building 3,100 indirect factory labor 53,700 repairs to office equipment 1,500 indirect materials 84,200 factory repairs 2,220 direct materials used 137,700 advertising 15,900 factory manager’s salary 8,700 office supplies used 2,770 from the information: your answer is incorrect. try again. determine the total amount of manufacturing overhead. manufacturing overhead $ 173050 link to text your answer is incorrect. try again. determine the total amount of product costs. product costs $ 208000 link to text your answer is incorrect. try again. determine the total amount of period costs. period costs $ 66870 click if you would like to show work for this question: open show work