Pierce & company provides the following information concerning the work in process at its plant: beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 59 percent complete). started this month, 60,900 units. transferred out, 49,300 units. ending inventory, 20,900 units (materials are 100 percent complete; conversion costs are 14 percent complete). required: a. compute the equivalent units for materials using the weighted-average method. b. compute the equivalent units for conversion costs using the weighted-average method.

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.