Social responsibility deals with decisions and interactions mostly on an individual level

In a production cost report using process costing, transferred-in costs are similar to:

a. Material added at the beginning of the process. b. Conversion costs added during the process. c. Costs transferred to the next process. d. Costs included in beginning inventory.

Zero, Inc purchased equipment at the beginning of 2011 for $200,000. Zero decided to depreciate the equipment over a 5-year period using the double-declining-balance method. Zero estimated the equipment's salvage value at $20,000. Which of the following statements is correct concerning Zero's financial statements at December 31, 2011?

A) The book value of the equipment is $120,000. B) The book value of the equipment is $80,000. C) The total accumulated depreciation is $90,000. D) Depreciation expense for 2011 is $72,000.