Aprice maker is a. a consumer who participates in an auction where she announces her willingness to pay for a product. b. a person who actively seeks out the best price for a product that he or she wishes to buy. c. a firm that is able to sell any quantity at the highest possible price. d. a firm that has some control over the price of the product it sells.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: