CJ, Inc. purchased a new machine for $50,000 on March 28, 2015. The useful life was expected to be eight years and then they would sell it to the junk yard for $2,000. The machine was sold for $34,000 on October 2, 2019. Assume no depreciation in the year of purchase and a full year of depreciation in the year of sale. Assuming they use straight-line depreciation, what is the gain to be recorded at the time of sale

Elliott company produces large quantities of a standardized product. the following information is available for its production activities for march. units costs beginning work in process inventory 2,500 beginning work in process inventory started 25,000 direct materials $ 3,725 ending work in process inventory 5,000 conversion 11,580 $ 15,305 status of ending work in process inventory direct materials added 185,750 materials—percent complete 100 % direct labor added 182,375 conversion—percent complete 30 % overhead applied (140% of direct labor) 255,325 total costs to account for $ 638,755 ending work in process inventory $ 62,530 prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per eup, and its cost assignment and reconciliation. use the weighted-average method. (round "cost per eup" to 2 decimal places.)

Select the correct answer. which is a benefit of planning for your future career? a. being less prepared after high school. b. having higher tuition in college. c. earning college credits in high school. d. ruining your chances of having a successful career.

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.