The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31
Inventories Raw materials $48,000 $62,000
Work in process 11,200 23,300
Finished goods 68,000 45,600
Activities and information for May Raw materials purchases (paid with cash) 220,000
Factory payroll (paid with cash) 365,000
Factory overhead Indirect materials 25,000
Indirect labor 90,000
Other overhead costs 130,000
Sales (received in cash) 1,500,000
Predetermined overhead rate based on direct labor cost 80%
Determine whether there is over or underapplied overhead.

Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.