Department A had 4,600 units in Work in Process that were 66% completed at the beginning of the period at a cost of $7,200. During the period, 25,800 units of direct materials were added at a cost of $59,340 and 28,400 units were completed. At the end of the period, 2,000 units were 29% completed. All materials are added at the beginning of the process. Direct labor was $25,900, and factory overhead was $4,100. The cost of the 2,000 units in process at the end of the period if the first-in, first-out method is used to cost inventories was:. a. $4,936.
b. $5,942.
c. $4,600.
d. $5,271.

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest. extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Explain how can you avoid conflict by adjusting

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?