Last month unemployment fell to 4 percent, its lowest level in years. the economy is growing rapidly, but consumer prices have risen at an annual rate of 10 percent during the last six months. which of the following policies would be most appropriate under these circumstances? a reduction in taxes. an increase in taxes. an increase in both government spending and taxes. an increase in government spending.

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.