For 2018, Gary Manufacturing uses machine-hours as the only overhead cost-allocation base. The accounting records contain the following information: Estimated manufacturing overhead $350,000 and Estimated Machine-hours 70,000 hours and estimated labor hours 20,000 hours. Company uses 500 machine hour in Job 120 and 700 machine hour in Job 130. The applied manufacturing overhead for Job 130 is: a. $7,500. b. $3,500. c. $10,500. d. $2,500.

The stock of grommet corporation, a u.s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u.s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u.s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u.s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?