Company manufactures car seats in its plant. Each car seat passes through the assembly department and testing department. This problem focuses on the testing department. Direct materials are added when the testing department process is % complete. Conversion costs are added evenly during the testing department's process. As work in assembly is completed, each unit is immediately transferred to testing. As each unit is completed in testing, it is immediately transferred to Finished Goods. Company uses the weighted-average method of process costing. Data for the testing department for October are as follows: Physical Units (Car Seats) Direct Materials Conversion Costs
Work-in-process, October 1 *a 5,000 $1,250,000 $402,750
Started during October 20,000
Completed during October 22,500
Work-in-process, October 31 *b 2,500
Total costs added during October $4,500,000 $2,337,500

Required:
What is the percentage of completion for:

a. Transferred-in costs and direct materials in beginning work-in-process inventory.
b. Transferred-in costs and direct materials in ending work-in-process inventory

Ange in supply or (ii) a movement along the supply curve. a. during a real estate boom that causes house prices to rise, more homeowners put their houses up for sale. b. many strawberry farmers open temporary roadside stands during harvest season, even though prices are usually low at that time. c. immediately after the school year begins, fewer young people are available to work. fast-food chains must raise wages, which represent the price of labor, to attract workers. d. many construction workers temporarily move to areas that have suffered hurricane damage, lured by higher wages. e. since new technologies have made it possible to build larger cruise ships (which are cheaper to run per passenger), caribbean cruise lines have offered more cabins, at lower prices, than before. 2. in the following three situations, the market is initially in equilibrium. after each event described below, does a surplus or shortage exist at the original equilibrium price? what will happen to the equilibrium price as a result? a. in 2010 there was a bumper crop of wine grapes. b. after a hurricane, florida hoteliers often find that many people cancel their upcoming vacations, leaving them with empty hotel rooms. c. after a heavy snowfall, many peop