#1. when a bank keeps $12 from a $100 deposit as legal reserves, it is using a. the federal reserve system. c. a legal reserve system. b. a fractional reserve system. d. a fractional deposit system. #2.the fed has defined different categories of money, m1 and m2, according to the money's a. source. c. form. b. function. d. value. the real rate of interest:

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)