Suppose Spain Is Currently Producing 90 Units of Wine and 10

question 80

Multiple Choice

Suppose Spain is currently producing 90 units of wine and 10 units of cheese,but to produce 10 more units of cheese it must sacrifice 30 units of wine.Further,suppose that Portugal produces 45 units of wine and 45 units of cheese,but to produce 10 more units of cheese it must sacrifice only 10 units of wine.What is the pattern of absolute advantage between Spain and Portugal?

• A)Portugal has an absolute advantage in both wine and cheese production.
• B)Portugal has an absolute advantage in wine production and Spain has an absolute advantage in cheese production.
• C)Spain has an absolute advantage in both wine and cheese production.
• D)neither country has an absolute advantage in the production of either wine or cheese.
• E)more information is needed to conclude anything about absolute advantage in either country.

Analyze the ending balance in the work in process and raw materials accounts.

Determine the total amount of manufacturing overhead actually incurred.

Record the journal entry for the allocation of underapplied or overapplied manufacturing overhead.

Calculate the cost of goods manufactured and sold, including after the allocation of underapplied or overapplied manufacturing overhead.

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Definitions:

Japanese Americans

Individuals of Japanese ancestry residing in the United States, including those born in Japan or of Japanese heritage.

Relocation Camps

Areas where people, especially during wartime or political turmoil, are forcibly relocated and often detained.

Korematsu v. United States

A landmark Supreme Court case in 1944 that upheld the government's decision to intern Japanese Americans during World War II, a decision later considered a grave injustice.

German Americans

Individuals in the United States who have full or partial German ancestry, constituting one of the largest ethnic groups in the country.