Which one of the following statements is TRUE? a. An agency conflict between inside owners/managers and outside owners occurs when the outside owners sell their shares to someone else. b. An agency problem occurs when an owner/manager sells stock to an outside investor and the owner/manager fears the outside investor will consume too many perquisites. c. A quarter-end bonus is an example of a nonpecuniary benefit. d. A company's matching contribution to a retirement plan is a nonpecuniary benefit. e. A manager/shareholder agency conflict arises when the manager's actions aren't in the company's best interest.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: