Pacific ink had beginning work-in-process inventory of $750,960 on october 1. of this amount, $307,920 was the cost of direct materials and $443,040 was the cost of conversion. the 51,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. during october, 108,000 units were transferred out and 33,000 remained in ending inventory. the units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. costs incurred during the period amounted to $2,556,000 for direct materials and $3,278,760 for conversion. 12.value: 0.75 pointsrequired information required: (1) compute the equivalent units for the materials and conversion cost calculations. (2) compute the cost per equivalent unit for direct materials and for conversion costs using the fifo method. (round your answers to 2 decimal places.) referencesebook & resources worksheetdifficulty: 2 mediumlearning objective: 08-05 assign costs to products using first-in, first-out (fifo) costing. check my work 13.value: 0.75 pointsrequired information a-1. compute the cost of goods transferred out and the cost of ending inventory using the fifo method. (round intermediate calculations to 2 decimal places.) a-2. is the ending inventory higher or lower under the weighted-average method compared to fifo? higher lower referencesebook & resources

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar. spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements. cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery. rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer. gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life. esquire company provides financial statements to external users every three years.

Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished automobile. because more firms increase competition in the market, the market price falls as more firms enter an automobile market, or specifically, , where n represents the number of firms in a market. assume that the initial size of the u. s. and the european automobile markets are 300 million and 533 million people, respectively. a. calculate the equilibrium number of firms in the u. s. and european automobile markets without trade. b. what is the equilibrium price of automobiles in the united states and europe if the automobile industry is closed to foreign trade? c. now suppose that the united states decides on free trade in automobiles with europe. the trade agreement with the europeans adds 533 million consumers to the automobile market, in addition to the 300 million in the united states. how many automobile firms will there be in the united states and europe combined? what will be the new equilibrium price of automobiles? d. why are prices in the united states different in (c) and (b)? are consumers better off with free trade? in what ways?

Anew joint command and control system is being developed to meet the strategic information needs of all the military services. the air force is the lead service, but the army and navy have different points of view about what functions the system should perform. which one of the software acquisition best practices would be most relevant in managing this issue as the program office undertakes system development?