Which of the following statements is correct? a. one defect of the irr method is that it does not take account of cash flows over a project's full life. b. one defect of the irr method is that it values a dollar received today the same as a dollar that will not be received until sometime in the future. c. one defect of the irr method is that it does not take account of the time value of money. d. one defect of the irr method is that it assumes that the cash flows to be received from a project can be reinvested at the irr itself, and that assumption is often not valid. e. one defect of the irr method is that it does not take account of the cost of capital.

The fields company has two manufacturing departments, forming and painting. the company uses the weighted-average method of process costing. at the beginning of the month, the forming department has 25,000 units in inventory, 60% complete as to materials and 40% complete as to conversion costs. the beginning inventory cost of $60,100 consisted of $44,800 of direct materials costs and $15,300 of conversion costs. during the month, the forming department started 300,000 units. at the end of the month, the forming department had 30,000 units in ending inventory, 80% complete as to materials and 30% complete as to conversion. units completed in the forming department are transferred to the painting department. cost information for the forming department is as follows: