In Class Exercise: Marshall Company uses the FIFO process costing in accounting for its production activities. Materials are added at the beginning of the process (i. e., 100% completed) and conversion costs are incurred uniformly throughout the process. The company runs inspection when the product is 100% complete. August's production records indicate the following information: Quantities: Beginning work in process inventory (40% completed) 2,000 units Started during August 11,000 units Spoilage 1,000 units Completed and transferred out 10,000 units Ending work in process inventory (20% completed) ? Beginning WIP inventory costs: Direct materials $500 Direct labor 400 Factory overhead 240 August production costs: Direct materials $4,400 Direct labor 5,000 Factory overhead 3,480 1. What are the equivalent units for material and conversion?

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.

Specialization—the division of labor—enhances productivity and efficiency by a) allowing workers to take advantage of existing differences in their abilities and skills. b) avoiding the time loss involved in shifting from one production task to another. c) allowing workers to develop skills by working on one, or a limited number, of tasks. d)all of the means identified in the other answers.

Your own record of all your transactions. a. check register b. account statement