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Alpha Company uses a process cost system. During 2017, Alpha had no beginning work in process inventory.

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Alpha Company uses a process cost system.  During 2017,

Alpha had no beginning work in process inventory.  During 2017, Alpha started 700 units. Alpha had 200 units in work in process at the end of 2017.  These units were 50% complete with respect to materials. Use this information to determine the equivalent units for direct materials. (Round & enter final answers to nearest whole number of units)

 
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October 1, 2017, Alpha Company started a new production operation using the weighted average method of process costing. During October, 9,000 units were started and 7,000 were transferred to finished goods.

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October 1, 2017, Alpha Company started a new

production operation using the weighted average method of process costing.  During October, 9,000 units were started and 7,000 were transferred to finished goods. The October 31, work in process inventory was 100% completed as to material costs and 50% completed as to conversion costs.  Material costs for the month of October were $27,000 and conversion costs were $40,000. Use this information to determine: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

1. the total costs transferred to finished goods inventory for October 2017

2. the cost that should be assigned to Alpha’ work in process inventory at the end of October 2017

 
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Lola’s Dance Studio currently has debt outstanding with a market value of $100,000 and a cost of 8 percent.

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Lola’s Dance Studio currently has debt outstanding with a market value of $100,000 and a cost of 8

percent. The company has EBIT of $8,000 that is expected to continue in perpetuity. Assume there are no taxes.

 
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What do we mean by the terms relevance and reliability as the terms relate to audit evidence?

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What do we mean by the terms relevance and reliability as the terms relate to audit evidence?

 
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