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?

At april 1, 2019, the food and drug administration is in the process of investigating allegations of false marketing claims by hulkly muscle supplements. the fda has not yet proposed a penalty assessment. hulkly’s fiscal year ends on december 31, 2018. the company’s financial statements are issued in april 2019. required: for each of the following scenarios, determine the appropriate way to report the situation. 1. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 2. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is probable. 3. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 4. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is probable.

Amarket that consists of all possible consumers regardless of their specific needs or wants is a

Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.