The production system designed to eliminate waste is the ________.

full costing system

just-in-time system

traditional system

activity-based system

Wizard Corporation has 20,000 shares of cumulative, 5%, $100 par, preferred stock outstanding as well as 100,000 shares of $3 par common stock. As of the beginning of this fiscal year, there were three years of dividends in arrears on the preferred stock. The board of directors wants to give the common stockholders a $1.25 dividend per share. The total dividends to be declared must be _______.

	$400,000
	$525,000

	$400,000
	$225,000