Aseller accepts a contingent backup offer from a second buyer and notifies the first buyer under a release clause. the first buyer decides to remove the sale of buyer's property contingency. what happens next? a. buyer removes contingency after the seller accepts a second offer and notifies the buyer under a release clause b. the sale of the buyer's property collapses during the closing process, through no fault of the buyer c. buyer cancels agreement after the seller accepts a second offer and notifies the buyer under a release clause d. the buyer fails to sell her home before the contingency deadline

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:

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Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?