Figure 15-4 -In Figure 15-4,if C Is the Initial Equilibrium Point and Equilibrium

question 95

Multiple Choice

Figure 15-4
-In Figure 15-4,if C is the initial equilibrium point and there is an unanticipated decrease in aggregate demand from A D₂ to A D₁,then

• A)the new short run equilibrium will be at point B.
• B)the new long run equilibrium will be at point B.
• C)the new short run equilibrium will be at point D.
• D)real GDP per year will fall below Q₁.

Prepare general journal entries for production activities including raw materials, labor, and overhead costs.

Distinguish between direct and indirect costs in a manufacturing environment.

Learn the features of hybrid costing systems that combine elements of both process and job order costing.

Identify the accounts involved in the costing process for direct labor, indirect labor, direct materials, and indirect materials.