Prepare journal entries to summarize the 2017 transactions. as your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to cost of goods sold. number your entries. explanations for each entry may be omitted.(record debits first, then credits. exclude explanations from any journal entries.) direct materials and supplies purchased on credit, $ 800.

One country has a comparative advantage over another country in the production of a good if ithas a curved production possibilities curve and the other country has a linear production possibilities curve. has lower fixed costs than the other country. has a linear production possibilities curve and the other country has a curved production possibilities curve. is a lower opportunity cost producer of the good.