You sold one silver futures contract at $3.10 per ounce. Assume the contract size is 5,000 ounces and there are no transactions costs. What would be your profit or loss at maturity if the silver spot price at that time is $3.00 per ounce? (Use a minus sign to indicate a loss. Round your answer to 2 decimal places.)

Brody corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. beginning inventory for january consisted of 1,050 units that were 65% completed. 10,900 units were started into the process during january. on january 31, the inventory consisted of 500 units that were 50% completed. what would be the equivalent units for direct materials cost using the weighted average method?