On February 15, Jewel Company buys 8,200 shares of Marcelo Corp. common stock at $29.13 per share plus a brokerage fee of $460. The stock is classified as available-for-sale securities. This is the companys first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $1.45 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.90 per share less a brokerage fee of $310. The journal entry to record the sale of the 4,100 shares of stock on November 17 is:

Multiple Choice

• Debit Cash $122,280; credit Long-Term Investments-AFS $119,433; credit Gain on Sale of Long-Term Investments $2,847.

• Debit Cash $122,590; credit Long-Term Investments-Trading $119,433; debit Gain on Sale of Long-Term Investments $3,157.

• Debit Cash $122,590; credit Long-Term Investments-AFS $119,663; credit Gain on Sale of Long-Term Investments $2,927.

• Debit Cash $122,280; credit Long-Term Investments-AFS $119,663; credit Gain on Sale of Long-Term Investments $2,617.

• Debit Cash $122,590; credit Long-Term Investments-Trading $119,433; credit Gain on Sale of Long-Term Investments $3,157.

The Homer Corporation produces two products, and reports the following production and cost information for the most recent accounting period.

	Product A				Product B
Number of units produced		11,000	units			2,200	units
Direct labor @ $22 per direct labor hour (DLH)		0.50	DLH per unit			3.00	DLH per unit
Direct materials cost	$	2	per unit		$	32	per unit

Overhead costs:	Total Cost				Activity Driver	Product A		Product B
Machine setup	$	1,400.00			setups	5	setups	15	setups
Quality inspections		22,800.00			inspections	50	inspections	130	inspections
Total	$	24,200.00

Using direct labor hours as the basis for assigning overhead costs, the total product cost per unit for Product A is:

Multiple Choice

• $13.00 per unit

• $14.00 per unit

• $98.00 per unit

• $104.00 per unit

• $15.00 per unit