Samantha's office supplies manufactures desk organizers in its processing department. direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. conversion costs are incurred evenly throughout the production cycle. inspection takes place as units are placed into production. after inspection, some units are spoiled due to nondetectible material defects. spoiled units generally constitute 4% of the good units. data provided for february 2012 are as follows. what costs are allocated to the ending work-in-process inventory for direct materials and conversion costs, respectively, using the fifo method of process costing?

Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.

Which of the following businesses is most likely to disrupt an existing industry? a. closer connex developed an earphone that receives emails and text messages and converts them to voice messages. the first models had poor reception, but they rapidly improved over time. b. mega technologies reconfigured the components used in its touchscreen tablets to create a new type of wearable device for use in restaurants and other service industries. c. particle inc. developed a teleportation technology that can transport physical materials instantaneously across great distances. d. altrea added advanced camera technology to its premium line of smartphones so that they would take the highest-quality photos of all phones on the market.