Cienfuegos corporation has provided the following data concerning last month's operations. purchases of raw materials all direct $ 36,000 direct labor cost $ 58,000 manufacturing overhead applied to work in process $ 90,000 actual manufacturing overhead incurred $ 93,000 beginning ending raw materials inventory $ 10,000 $ 21,000 work in process inventory $ 62,000 $ 70,000 finished goods inventory $ 36,000 $ 40,000 the company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. how much is the adjusted cost of goods sold on the schedule of cost of goods sold

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business.true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.