Overhead is charged to production at 85% of direct materials cost. jobs 235, 237, and 238 were completed during june and transferred to finished goods. jobs 235 and 238 have been delivered to customers. actual manufacturing overhead was equal to manufacturing overhead applied. there were no work in process or finished goods inventories at the beginning of june. lee's work in process inventory balance on june 30 was: $5,817 $11,327 $5,977 $4,780

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

If an investment has 35 percent more nondiversifiable risk than the market portfolio, its beta will be:

Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due. the correct journal entry to record the payment on august 16 is: