Where should a company undergoing reorganization report the gains and losses resulting from the reorganization? Select one: a. on the statement of retained earnings. b. on the income statement, separate from other gains and losses. c. on the statement of stockholders' equity. d. on the statement of cash flows. e. on the income statement, combined with the gains and losses from operations.

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.

Atoy store has a new game in stock, but customers aren't buying it. which of the following types of inventory increases when customers aren't buying this game? a. work-in-process b. raw materials c. finished goods d. in-transit