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Tulsa Corporation, which adds materials at the beginning of production, uses a weighted-average process-costing system. Consider the data that follow.
Number of Units
Cost of Materials
Beginning work in process
40,000
$ 80,000
Started in June
60,000
125,000
Production completed
65,000
Ending work in process
25,000
The company's cost per equivalent unit for materials is:
A. $1.24.
B. $1.66.
C. $1.67.
D. $2.05.
E. some other amount.
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income statement for the year ended december 31 2011
Karr Company purchased bonds with a face amount of $400,000 between interest payment dates. Karr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000.
Prepare the required journal entries that MMM Store must make to record these transactions.
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Patience and kindness has been the key to your business success.
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