Cosby uses a weighted-average process-costing system. all materials are added at the beginning of the process; conversion costs are incurred evenly throughout production. the company finished 40,000 units during the period and had 15,000 units in progress at year-end, the latter at the 40% stage of completion. total material costs amounted to $220,000; conversion costs were $414,000. the cost of the ending work in process is: a. $54,000. b. $78,000. c. $114,000.d. $195,000. e. some other amount.

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?