The price at which a perfectly competitive firm sells its product is determined
a. the buyers of the product, because there are so many sellers that they cannot agree on a price.
b. the market supply and demand. the individual seller based on his costs of production and his profit margin.
c. the government, because there are so many buyers and sellers of the product that together they cannot agree on the price.

The following accounts are from last year’s books at s manufacturing: raw materials bal 0 (b) 157,400 (a) 172,500 15,100 work in process bal 0 (f) 523,600 (b) 133,700 (c) 171,400 (e) 218,500 0 finished goods bal 0 (g) 477,000 (f) 523,600 46,600 manufacturing overhead (b) 23,700 (e) 218,500 (c) 27,700 (d) 159,400 7,700 cost of goods sold (g) 477,000 s manufacturing uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. what is the amount of cost of goods manufactured for the year