Carolwood Company manufactures widgets and uses process costing. The status of the beginning and ending inventory is: Beginning inventory 30% of the manufacturing process is complete Ending inventory 55% of the manufacturing process is complete Direct materials are added to the manufacturing process in stages. None are added when production begins. Approximately half of the materials are added when the product is 25% complete. The other half are added when the product is 50% complete. The percentages complete of beginning inventory and ending inventory with respect to direct materials (DM) and conversion costs (CC), respectively, area. Beg. Inventory DM-50% CC-30% End. Inventory DM-100% CC-55%
b. Beg. Inventory DM-50% CC-30% End. Inventory DM-55% CC-55%
c. Beg. Inventory DM-50% CC-70% End. Inventory DM-100% CC-45%
d. Beg. Inventory DM-30% CC-30% End. Inventory DM-55% CC-55%

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

In transportation model analysis, the stepping-stone method is used to: a. obtain an initial feasible solutionb. evaluate empty cells for possible degeneracyc. evaluate empty cells for potential solution improvementsd. identify a dummy origin pointe. balance supply and demand

Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition