Acompany uses a process cost accounting system and the weighted-averaage inventory valuation method. its assembly department's beginning inventory consisted of 50,000 units, three-fourths complete with respect to direct labor and overhead. the department started and finished 127,500 units this period. the ending inventory consists of 40,000 units that are one-fourth complete with respect to direct labor and overhead. all direct materials are added at the beginning of the process. goods in process included direct labor costs of $30,000 and overhead costs of $40,000 for the period. the overhead cost per equivalent unit is: a. $0.126b. $0.160c. $0.178d. $0.213e. $0.373

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?