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Given the following data for Good man Company, compute (A) total manufacturing costs and (B) costs of goods manufactured:
Direct materials used
$345,000
Beginning work in process
$15,000
Direct labor
305,000
Ending work in process
60,000
Manufacturing overhead
450,000
Beginning finished goods
75,000
Operating expenses
525,000
Ending finished goods
45,000
Total Manufacturing Costs
Costs of Goods Manufactured
A
$1,055,000
$1,100,000
B
$1,070,000
$1,130,000
C
D
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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