The premium on a long term call option on the market index with an exercise price of 950 is $12.00 when originally purchased. After 6 months the position is closed, and the index spot price is 965. If interest rates are 0.5% per month, what is the Call Payoff?
A) $2.64
B) $12.00
C) $12.36
D) $15.00
D
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Martinez Manufacturing incurred $4000 for indirect labor in Department III. The journal entry to record indirect labor utilized, but not paid is ________. Process costing is used.
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Indicate whether the statement is true or false.