Cavy Company completed 26,000 units during the year at a cost of $2,139,800. The beginning finished goods inventory was 5,000 units valued at $405,000. Assuming a FIFO cost flow, determine the cost of goods sold for 20,000 units.

Before expiration, the time value of an out-of-the-money stock option is ________.

A) equal to the stock price minus the exercise price
B) equal to zero
C) negative
D) positive

The production possibility frontier is used to illustrate the concept of

A) the laissez-faire economy.
B) opportunity costs.
C) equilibrium.
D) aggregate demand.

A loss on the sale of a plant asset is listed as:

A) a liability on the balance sheet.
B) an asset on the balance sheet.
C) other expense on the income statement.
D) other income on the income statement.

Hayden Corporation issues 1,000, 10-year, 8%, $2,000 bonds dated January 1 at 92. The journal entry to record the issuance will show a

A) credit to Discount on Bonds Payable for $160,000
B) debit to Cash for $2,000,000
C) credit to Bonds Payable for $2,000,000
D) credit to Cash for $1,840,000

What is the pension expense for the year ended December 31,2015?

A) $1,140,000
B) $1,065,000
C) $1,200,000
D) $1,137,000