Excalibur Company produces calendars in a one-department process. The following data is available for the past month:
Work-in-process inventory, beginning 0
Units started 15,000
Units completed and transferred 12,000
Work-in-process inventory, ending 3,000
Direct materials added $30,000
Direct labor $20,700
Factory overhead costs $10,350
The units in process at the end of the month are 100 percent complete with respect to direct materials and 50 percent complete with respect to conversion costs. What are the equivalent units for materials for the month?
A) 3,000
B) 12,000
C) 13,500
D) 15,000
D
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Unless the seller provides the necessary documentation, part of the proceeds of a sale of real property must be withheld for federal tax purposes as provided by
a. the FHA. b. Fannie Mae. c. FIRPTA. d. the IRS.
By law, a license escrow agent must:
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