Pitt enterprises manufactures jeans. all materials are introduced at the beginning of the manufacturing process in the cutting department. conversion costs are incurred uniformly throughout the manufacturing process. as the cutting of material is completed, the pieces are immediately transferred to the sewing department. information for the cutting department for the month of may follows. work in process, may 1 (59,000 units, 100% complete for direct materials 35% complete with respect to conversion costs; includes $88,500 of direct material cost; $52,050 of conversion costs). units started in may 243,000 units completed in may 218,000 work in process, may 31 (84,000 units, 100% complete for direct materials; 20% complete for conversion costs) costs incurred in may direct materials conversion costs $456,840 $ 428,300 if pitt enterprises uses the fifo method of process costing, compute the cost per equivalent unit for direct materials and conversion costs respectively for may multiple choice $1.88; $2.00. 45u,840 s0.79; $2.88. $2.88: $0.70. $2.88; $2. 88. $4.41; $4.41.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

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Greenway industries is a major multinational conglomerate. its business units compete in a range of industries, including home appliances, pharmaceuticals, commercial real estate, and plastics manufacturing. although its largest business unit, which produces kitchen appliances, is among the most profitable in the industry, it generates only 35 percent of the company's revenues. which of the following is most likely true of greenway's stock price? a. it is valued at less than the sum of its individual business units. b. it is valued at greater than the sum of individual business units. c. it is valued at the exact sum of individual business units. d. it is consistently lower than the industry average.it is valued at greater than the sum of individual business units.