The Converting Department of Osaka Napkin Company uses the average cost method and had 2,000 units in work in process that were 60% complete at the beginning of the period. During the period, 25,200 units were completed and transferred to the Packing Department. There were 1,100 units in process that were 30% complete at the end of the period.
a. Determine the number of whole units to be accounted for and to be assigned costs for the period.
b. Determine the number of equivalent units of production for the period.
Answers
Answer:
Equivalent Units
Material cost = 26,560
Conversion Cost= 25,540
Explanation:
We would assume the company uses weighted average method of valuation.
Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.
Equivalent units = Degree of completion (%) × Number of units
Material cost
Item Unit Equivalent unit
Completed 25,200 100% ×25200 = 25,200
Closing WIP 1,360 100%× 1,360 1360
Total equivalent units 26,560
Conversion Cost
Item Unit Equivalent unit
Completed 25,200 100% ×25200 = 25,200
Closing WIP 1,360 25%× 1,360 340
Total equivalent units
The Converting Department of Osaka Napkin Company uses the average cost method and had 2,000 units in work in process that were 60% complete at the beginning of the period.
A. To determine the number of whole units to be accounted for and to be assigned costs for the period, let's calculate the total equivalent units of production.
Whole units at the beginning of the period = 2,000 unit
Units started and completed during the period = 25,200 units
Whole units in process at the end of the period = 1,100 units
Total whole units to be accounted for:
= Whole units at the beginning + Units started and completed during the period + Whole units in process at the end
= 2,000 units + 25,200 units + 1,100 units
= 28,300 units
B. To determine the number of equivalent units of production for the period, we need to consider the percentage of completion for the units in process at the beginning and the units in process at the end.
Equivalent units of production for units in process at the beginning:
= Whole units at the beginning × Percentage of completion at the beginning
= 2,000 units × 60%
= 1,200 equivalent units
Equivalent units of production for units in process at the end:
= Whole units in process at the end × Percentage of completion at the end
= 1,100 units × 30%
= 330 equivalent units
Total equivalent units of production for the period:
= Equivalent units of production for units in process at the beginning + Equivalent units of production for units in process at the end + Units started and completed during the period
= 1,200 equivalent units + 330 equivalent units + 25,200 units
= 26,730 equivalent units
Therefore, the number of equivalent units of production for the period is 26,730 units.
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Related Questions
The balance sheet indicates what an organization owns or controls and the various sources of the funds used to pay for these assets, such as bank debt and owners' equity.
a. True
b. False
Answers
Answer:
The correct answer is the option A: True.
Explanation:
To begin with, in the economics science field and the accounting theory the concept known as the balance sheet refers to a particular report that the managers have to do and understand in order to keep the control of everything inside the organization because it basically shows what the company posses, what it owns and to who it owns it with the characteristic of emphasizing it in a determine duration that could commonly be a year. Moreover it is separated in two main sides, the assets and financing, with this last one separeted in liabilities and owner's equity.
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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Refer to the table below. Suppose that D1 and S2 are the demand and supply schedules for Product A. If the government imposes a price ceiling of $4, then:
Price
D 1
D 2
S 1
S 2
$12
5
9
19
14
$10
8
12
17
12
$8
11
15
15
10
$6
13
18
13
8
$4
16
21
11
6
$2
18
24
9
4
a. a 5 unit shortage will result.
b. a 5 unit surplus will result.
c. a 10 unit surplus will result.
d, a 10 unit shortage will result.
Answers
If the government sets a $4 price cap, then Product A's price is constrained to $4. Due to a difference between the amount provided and the quantity required at the price of $4 (D1), there may be a market
A government is a structure or a collection of individuals having the authority to enact and uphold rules and regulations for a group of people, a society, or a whole nation. The state's and its residents' affairs are governed and under the jurisdiction of the central authority. There are many different types of governments, including democracies monarchies, dictats, and federations. The primary duties of the government are to preserve law and order, safeguard the rights of the people, and promote social welfare. In addition to collecting taxes to pay for these services, governments also play a vital role in delivering public services including infrastructure, healthcare, and education
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Then create a newspaper article/blog post/video (information/explanatory writing) to explain the factors a
consumer should consider when buying an automobile.
Answers
A self-propelled passenger vehicle for land transport that typically has four to eight tyres and is powered by an internal combustion engine or an electric motor. Automobile engineering refers to the branches of engineering that deal with the design and manufacturing of automobiles.Automobiles now play a significant role in our lives, which cannot be imagined without the modern world's luxuries. Because the automobile is used for both passenger and cargo transportation, it is a human lifeline. An automobile is a human-controlled vehicle that is not driven by humans.The number of doors, the arrangement of seats, and the roof structure are frequently used to categorise automotive body designs. Roofs on automobiles are traditionally supported by pillars on each side of the body.
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A $299,000 bond was redeemed at 104 when the carrying value of the bond was $354,000. The entry to record the redemption would include a
Oa. gain on bond redemption of $55,000.
Ob. loss on bond redemption of $43,040,
Oc. loss on bond redemption of $55,000
Od gain on bond redemption of $43,040,
Answers
Answer: gain on bond redemption of $43,040
Explanation:
In this case, there will be a gain on bond redemption would be calculated as:
= Carrying value of bonds – Bonds redeemed amount
= $354000- {($299,000 / $100) × $104}
= $354000 - $310960
= $43040
Therefore, there'll be a gain on bond redemption of $43,040
Help me please
With one worker, total production is 100. When a second worker is added, total product
increases to 300. The marginal product of the second worker is ….???
100.
200.
400.
300.
Answers
Total production is 100
let the product of second worker be x
then 100+x = 300
x = 200
The marginal product of the second worker is 200
Dear Mr. Anderson, would be very upset if she knew I was communicating with you about her final grade. Her Dad took her away for the weekend and I just took a look at her grades. To be honest with you, she does need the A-I understand the position you are in. It seems so desperate to have her grade point hinge on two percent of a grade. The big picture, however, is that she has applied to a university (her dream school) and the school is waiting to see her first semester grades for this year. She did poorly during freshmen and sophomore years and is paying a heavy price this year. I do understand, by her own admission, that she crossed the line with you a few times. I am sorry about this. If there is anything you can do participation points? Extra Credit? Please let me know. Sincerely, Sarah's Mom, Mrs. Flesher
write an email explaining why you can't change her grade or what she can do to change her grade.
Answers
Dear, Mrs. Flesher,
Thank you for reaching out, I appreciate you informing of the circumstances. Although, I can not and will not change her grade. However, she can change her grade through the following ways. She can write a paper for extra credit about a specific topic we've discussed in our class this year. This assignment would be all on her and she would need to prepare it on her own time. She could also be more open to raising her hand and answering questions during class for participation points. I hope these options help and I look forward to seeing her work.
Respectfully,
Ki'ara Barnett
Imagine that you want to buy a limited edition book for $100, the publisher decides that consumers won't buy the book at a price higher than $100, so only 500 books are printed. If the publisher turns out to be wrong, and consumers demand 10,000 books, the price will rise (as demand increases, so does price). This rise in price should then prompt the publisher to print more books because the higher the price, the higher the quantity supplied. Find another product that you use everyday and for which the market would react the same way
Answers
9514 1404 393
Answer:
gasoline
Explanation:
The price of gasoline rises dramatically when there is a perceived shortage. That price rise, in turn, causes producers to seek out sources of supply that previously had been considered uneconomical.
Answer:
GasolineExplanation:
#CARRYONLEARNING
Material costs of $200,000 and conversion costs of $214,200 were charged to a processing department in the month of September. Materials are added to the beginning of the process while conversion costs are incurred uniformly throughout the process. There were no unit in the beginning working process, 100,000 units were started into production in September and there were 8,000 units in ending working process that were 40% complete at the end of September. What was the total amount of manufacturing costs assigned to the 8,000 units in the ending work in process?
Answers
Answer:
ending WIP : 320,000
transferred out : 1,500,000
Explanation:
Woolies environmental impact in relation to the triple bottom line
Answers
The environmental impact as regard is the Triple bottom is that Woolies has reduced the ways that it sends wastes to landfills and has also embraced the method of recycling.
What is the triple bottom line?This is the term that is used to refer to a sustainable network or frame work that a business may have to adopt. What this means is that they would have to adopt the practice of measuring the success of the business through the eyes of the following elements.
peopleplanetprofitHence The environmental impact as regard is the Triple bottom is that Woolies has reduced the ways that it sends wastes to landfills and has also embraced the method of recycling.
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Tim purchased a bounce house one year ago for $6,500. During the year it generated $4,000 in cash flow. If Time sells the bounce house today, he could receive $6,100 for it. What would be his rate of return under these conditions?
Answers
Answer: 55.39%
Explanation:
From the question, we are informed that Tim purchased a bounce house one year ago for $6,500 and that during the year it generated $4,000 in cash flow and if he sells the bounce house today, he could receive $6,100 for it.
His rate of return will be:
= [($6100 + $4000) - $6500]/$6500 × 100
= ($10100 - $6500)/$6500 × 100
= $3600/$6500 × 100
= 0.5539 × 100
= 55.39%
what amount of Capital could be raised by Transnet
Answers
The amount of capital that Transnet is said to be able to raise is put at R100 billion business by 2020.
What is Transnet?This is the name of a railroad company that was established in South Africa. The company is known for the fact that it is a port, a rail and a pipeline company in the nation.
According to the goals of the company, there goal is to grow the business to have a R100 billion business by 2020. This business is a limited liability company that is owned majorly by the Department of Public Enterprises of South Africa. The government of the country are known to be the sole share holder that the business has in the nation.
So based on the question that we have here we can conclude that the The amount of capital that Transnet is said to be able to raise is put at R100 billion business by 2020.
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operations management course concept
Answers
The operations management course concept refers to the systematic design, direction, and control of the processes that transform inputs such as raw materials, energy, and labor into outputs such as goods and services that satisfy customer needs.
This management process includes inventory management, scheduling, supply chain management, quality control, and more. The goal of operations management is to create efficient processes that maximize productivity while minimizing costs.
Students taking an operations management course learn about these concepts and how to apply them to real-world situations in various industries. They also study topics like process design, project management, lean principles, and decision-making models.
The course is usually offered as a part of business administration, engineering, or industrial technology programs. Graduates of the course may go on to careers as operations managers, logistics managers, supply chain analysts, process improvement specialists, or manufacturing engineers, depending on their areas of focus and interests.
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What are some of your entrepreneurial strengths? How would they help you in starting or running a business?
Answers
Answer:
My entrepreneurial strengths are in providing helpful advice and information related to running a business. I am able to quickly process large amounts of data and quickly generate a summarized analysis to provide insight into the current state of a business. Additionally, I have access to vast amounts of data that can be used to make informed decisions. These strengths would help me in starting and running a business by providing a useful source of information, aiding in decision-making processes, and providing a bird's-eye view of the company's overall situation.
The best way to start a statement on your résumé is with _____.
a.
“I” or “My”
b.
a noun
c.
an active verb
d.
an adjective
Answers
The best way to start a statement on your résumé is with: C. an active verb.
What is a résumé?A résumé is also referred to as curriculum vitae and it can be defined as a short document that is written to briefly outline the qualifications, abilities, experience, and accomplishments of an individual such as a job applicant, haven completed and obtained an academic certificate.
What is a verb?A verb is one of the parts of speech in English language and it can be defined as a word which is used to describe an occurrence, action, experience, or a state of existence such as, speak, sitting, talking, etc.
In conclusion, an active verb such as speak, should be used to start a statement on your résumé.
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The __________ reflects the ups and downs of the nation’s real GDP.
A.
business cycle
B.
inflation rate
C.
consumer price index
D.
unemployment rate
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
Business cycle
Explanation:
The business cycle also refers to as the rise and fall of economic activity through periods of expansion and recession.
Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent.
a1. What is the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $550,000?
a2. Due to this sale, what tax effect does Hart have for the year?
Answers
Answer and Explanation:
The computation is shown below:
a. The amount and the character of the gain or loss is
Sale value of the property $550,000
Less: (Purchase value - depreciation) $400,000
Total gain recognized $150,000
Ordinary income recapture is $100,000
remaining 1231 gain or loss $50,000
b.
Section 1231 Gain = $50,000
, Rate of tax on $100,000 i.e. 32% = $32000
Rate of tax on $50000 i.e. 15% = $7500
So,
The Total tax liability is
= $32,000 + $7,500
= $39,500
Dré m Johnson profile
Answers
Answer:
huh what is your question
Which of the following is NOT part of a Kaizen event?
Question 1 options:
Specific action
Focus on the process
Individual action
Immediate action
Question 2 (5 points)
Which of the following is NOT usually part of a service recovery strategy?
Question 2 options:
Conveying regret,
Addressing the problem as soon as possible
Providing compensation.
Explaining the customers role in the problem
Question 3 (5 points)
Even a few minutes of having strong anger directed at a person can impact their immune system for hours afterwards.
Question 3 options:
True
False
Question 4 (5 points)
Kaizen means:
Question 4 options:
Big Problem
Good Change
Continuous Improvement
Efficient System
Question 5 (5 points)
Continuous improvement means that when a significantly large issue arises, it will be addressed immediately.
Question 5 options:
True
False
Question 6 (5 points)
Which of the following is NOT recommended as a strategy for handling angry customers?
Question 6 options:
Get a manager if all else fails
Listen carefully
Refer to policies
Use a loud, positive speaking voice
Answers
Answer:
Bhvhkmjjh. Bb
Explanation:
Bhvvbjjj
Please answer.........................
Answers
The topic, thesis, introduction, body, conclusion, and references are the first appropriate financial essay components. After finishing your first draft, start working on your second one.
An assignment in money terms is what?Assignment is the formal agreement-based transfer of some or all of the ownership rights and financial liabilities attached to a given asset, property, contract, etc. to a different party. A payee might provide a bank the authority to collect payments on a note, for instance.The topic, thesis, introduction, body, conclusion, and references are the first appropriate financial essay components. After finishing your first draft, start working on your second one. Include all the necessary details for a good paper in this draft. Fix grammatical and spelling mistakes, and improve the flow of the sentences in this draft.To learn more about financial essay components refer to:
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refer to the makeup of a firms capitalization
Answers
Finance. Another aspect of capitalization refers to the company's capital structure. Capitalization can refer to the book value cost of capital, which is the sum of a company's long-term debt, stock, and retained earnings. ... Companies with a high market capitalization are referred to as large caps.
Which conclusion does this graph most support?
100
Product A
75
Demand
50
Product B
25
0
$10 $15 $20
Price
$25
A. Product A is closer to equilibrium price than product B.
B. Product B is closer to equilibrium price than product A.
C. Product A has more elastic demand than product B.
D. Product A has more inelastic demand than product B.
Answers
Answer:
C. Product A has more elastic demand than product B.
Explanation:
The graph plotted above shows the quantity demanded for 2 products in relation to their prices.
Looking at the graph, we visually conclude that product A is more responsive to a change in price, compared to how responsive product B is to a change in price.
Invariably, a change in the price of commodity A causes a greater change in the quantity demanded, compared to a change in quantity demanded for product B, with almost the same change in price.
Option C is the answer.
Answer:
The correct answer is
Product B has more inelastic demand than product A !!!!
Explanation:
Trust me its correct!
You choice answers may look different but if you have this one then its correct! I got it right
Now suppose that Congress, concerned about the welfare of the working class, passes a law setting a minimum wage that is 10 percent above the current equilibrium wage. Assuming that Congress cannot dictate how many workers are hired at the mandated wage, calculate what happens to the real wage, employment, output, and the total amount earned by workers.
Answers
Answer:
hello your question is incomplete attached below is the complete question
A ) $7.766
B ) 4350 workers
C ) 61777.20
D ) $33782.10
Explanation:
A) Real wage = 4 * \((\frac{K}{L} )^{0.2}\)
where ; K = 120000, L = 7000
hence Real wage = 7.06 before 10% increase
After 10% increase ; Real wage = 7.06 + (7.06 * 0.1 ) = $7.766
B) employment ( L )
\(L = \frac{4^5 * K}{W^5}\) = \(L = \frac{1024*120000}{28247.95}\) = 4350 workers
C) Output
Y = 5 ( 120000 )^0.2 * (7000)^0.8
= 61777.20
D) Total amount earned by workers
L * W = 4350 * 7.766
= $33782.10
Chapter 3 Problem 3-9 Determining the effects of business transactions on the accounting equation
Answers
Depending on the specifics of the transaction, if a business's total assets decline, the sum of its liabilities and owner equity may or may not also do so.
What are the effects of business transaction?Every business transaction affects the components of accounting in two different ways. The three main components of accounting are capital, liabilities, and assets. The two fold effect states that an equal amount is given for every value received.
By using debits and credits to record each transaction when using the accounting equation, this method of bookkeeping is referred to as double-entry bookkeeping.
Why is it important to analyze the effects of a business transaction?The examination of transactions kicks off the accounting cycle. It is crucial to properly analyze business transactions because it guarantees accurate journal entries.
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1. Costs and benefits aren't always measured in dollars and cents. Assume
your gym teacher just told you to "drop and give me 20!" You have already
completed one set of 20 pushups. What non-money costs might you
experience if you give the gym teacher what she wants and do another set of
pushups? Answer this question in the form of one or more complete
sentences.
Answers
Answer:
The non-monetary costs you might experience are the calories, time, and the energy that you will burn by doing additional 20 pushups.
Explanation:
As for the benefits, you will lose some calories and gain better physique, strengthening your core. The benefits will certainly outweigh the costs, unless the person drops dead while doing the second act, but your gym teacher should know better. Another point is that not all costs and benefits can be quantified in monetary terms, or "measured in dollars and cents," which the above example has adequately illustrated.
PLEASE ANSWER I REALLY WANT TO GRADUATE
1. What are the differences between a sales tax and a use tax?
A. A sales tax is levied on the purchases of goods while a use tax is levied on the purchases of sevices.
B. A sales tax is collected when a good or service is purchased by a consumer while a use tax is collected when a good or service is purchased by a businesses.
C. A sales tax is on the purchase of goods and services at the point of sale while a use tax is paid on goods and services purchased when sales tax was not paid.
D. A sales tax on goods and services is paid by a region's residents and a use tax is paid by non-residents, both at the point of sale.
2. Compare how Medicare taxes are paid by individuals who are employees to those who are self-employed.
A. Employees pay half (1.45%) of the Medicare tax while the employer pays the other half. Self-employed individuals pay for both halves of the tax (2.9%).
B. Employees do not pay the Medicare tax and the employer pays for both halves of the tax (2.9%). Self-employed individuals pay for both halves of the tax (2.9%).
C. Employees pay half (1.45%) of the Medicare tax while the employer pays the other half. Self-employed individuals pay half (1.45%) of the Medicare tax.
D. Employees pay for both halves of the tax (2.9%) and the employer does not pay the Medicare tax. Self-employed individuals do not pay Medicare tax.
3. Which type of tax describes excise taxes, sales taxes, and tolls?
A. Progressive tax
B. Flat tax
C.regressive tax
D. Use tax
4. Identify all the groups that pay property tax.
A. Landowners, homeowners, and businesses
B. Businesses and individuals
C. Employers and employees
D. Landowners and homeowners
5. How are businesses taxed with the corporate income tax?
A. Businesses pay a progressive tax based on their total expenses.
B. Businesses pay a proportional tax based on their total receipts.
C. Businesses pay a proportional or progressive tax based on their profits.
D. All businesses pay the same amount of tax each year.
Answers
The differences between a sales tax and a use tax are:
A sales tax is on the purchase of goods and services at the point of sale while a use tax is paid on goods and services purchased when sales tax was not paid.What is used tax about?A lot of states uses Consumer Tax states. While Use Tax is known to be the tax that is placed or tax on the storage, use.
Note that used tax are placed on goods that no sales tax has been paid. Use tax is said to be a complementary or compensating tax used in place of sales tax.
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Answer:
LOOK AT EXPLAINATION FIRST !!
There are different types of taxes that really are levied for each institution in a kind of major way. Income corresponds to taxes paid by individuals on their mostly earned money. Property, on the kind of other hand, corresponds to taxes paid by property owners to state and local governments, contrary to popular belief. Corporate taxes definitely are the taxes that companies are required to pay on their earnings over the course of a year, which essentially is fairly significant.
Explanation:
1. C
2. A
3. C
4. A
5. C
As a producer and seller of athletic shoes, apparel, and equipment, Nike sells
gross domestic products
goods
services
supplies
Answers
As a producer and seller of athletic shoes, apparel, and equipment, Nike sells goods.
Goods are tangible products that people buy to satisfy their wants and needs. Goods can be classified into two categories: consumer goods and producer goods.Consumer goods are items purchased by consumers for their own use and enjoyment, while producer goods are used by businesses to produce other goods and services.Therefore, Nike sells goods, which are tangible products such as athletic shoes, apparel, and equipment.Nike is a leading producer and seller of athletic shoes, apparel, and equipment. The company is one of the largest players in the sportswear industry and is recognized globally for its high-quality products and innovative designs. As a producer and seller of these goods, Nike contributes significantly to the gross domestic product of many countries. The gross domestic product is the total value of goods and services produced in a country within a particular period.For more questions on Nike
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Job Search Challenge Card #1 Logic Puzzle
Answers
Lisa vozniak income statememt college accounting
Answers
Question 7 of 10
If you borrow $2,000 at 5 percent simple interest, how much will you owe
after one year?
A. You will owe 5 percent of the principal only.
OB. You will owe the principal of $2,000 only.
C. You will owe the principal of $2,000 plus 5 percent of the principal.
D. You will owe the principal of $2,000 minus 5 percent of the
principal.
Answers
You will owe the principal of $2,000 plus 5 percent of the principal.The correct answer to this question is C.
Simple interest is calculated by multiplying the principal by the interest rate and the time period. In this case, the principal is $2,000 and the interest rate is 5 percent. After one year, the interest accrued would be $100 (5% of $2,000).
Therefore, the total amount owed after one year would be $2,100 ($2,000 principal + $100 interest). It is important to note that simple interest is calculated only on the principal amount borrowed, and not on any interest that has already accrued.
Additionally, the interest rate is usually expressed as an annual rate, so it is important to adjust the time period accordingly if the loan term is less than one year. The correct answer to this question is C.
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