Bagwell's net income for the year ended December 31, Year 2 was $199,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2.

At December 31	Year 2			Year 1
Common Stock, $5 par value	$	514,000		$	462,600
Paid-in capital in excess of par		962,000			865,600
Retained earnings		702,000			594,600

Multiple Choice

• $51,400.

• $199,000.

• $107,400.

• $96,400.

• $147,800.

Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of units expected to be produced are 197,000 in October, 205,500 in November, and 202,000 in December. Glaston assigns variable overhead at a rate of $0.80 per unit of production. Fixed overhead equals $154,000 per month. Compute the total budgeted overhead that would appear on the factory overhead budget for month of October.

Multiple Choice

• $351,000.

• $154,000.

• $157,600.

• $318,400.

• $311,600.