Abbott company incurred the following costs during the year; utilities (60% factory), $5,000; insurance (75% factory), $4,000; direct materials $20,000; indirect materials, $3,000; direct labor, $30,000; and indirect labor, $5,000. what is the amount of conversion costs incurred during the year?

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: