The weather on any given day in a particular city can be sunny, cloudy, or rainy. it has been observed to be predictable largely on the basis of the weather on the previous day. specfically:

if it is sunny on one day, it will be sunny the next day 1/6 of the time, and be cloudy the next day 1/3 of the time

if it is cloudy on one day, it will be sunny the next day 1/6 of the time, and be cloudy the next day 1/6 of the time

if it is rainy on one day, it will be sunny the next day 1/2 of the time, and be cloudy the next day 1/6 of the time

using 'sunny', 'cloudy', and 'rainy' (in that order) as the states in a system, set up the transition matrix for a markov chain to describe this system.

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.

Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct. d.