Figure 5-8

question 159

Multiple Choice

Figure 5-8.John's Water Slides makes custom water slides for hotels. On September 1, there were three jobs in process, Jobs 812, 813, and 814. Two more jobs were started during September, Jobs 815 and 816. By September 30, Jobs 812, 814, and 816 were finished. The following data has been collected:
Overhead is applied at the rate of 120% of direct labor cost. Jobs are sold at cost plus 60%. Selling and administrative expenses for September totaled $2,950. By September 30, Jobs 812 were 816 are sold, but the customer who ordered Job 814 decided he did not want the slide so it is still in the warehouse.
-Refer to Figure 5-8. What is John's operating income for the month of September?

• A) $127.40
• B) $8,206.40
• C) $3,077.40
• D) $0
• E) None of these.

Identify different systems of social stratification, such as class, caste, and apartheid.

Analyze the effects of social stratification on individuals' life chances and opportunities.

Describe the concept of social mobility and the factors that influence it.

Explain the role of cultural capital in social stratification and mobility.

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Definitions:

Legal Entity

An organization or structure that has legal rights and obligations, including the ability to enter into contracts and sue or be sued.

Shareholders

Individuals or entities that own shares in a company, thus holding a portion of the company's ownership and sometimes entitled to dividends and a say in company decisions.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Statute of Frauds

Legal regulation requiring certain kinds of contracts to be written and signed to be enforceable.