Northwest Products purchased 400 acres of timberland for $2,070 per acre in January 2019. They paid $12,000 to get the land ready for logging (roads, etc.) and $85,000 for the equipment necessary to cut and remove the logs. The equipment could be used on other projects. The service life of the equipment is estimated at 5 years; $15,000 in residual value. Northwest intends to log(remove) the mature trees and then sell the land to a land management company. The land is estimated to have a value of $500 per acre without the mature timber. Total board feet to be harvested is estimated at 4,000 board feet per acre. During 2019, Northwest Products logged 4,250 trees (1,062,500 board feet). The company sold 985,000 board feet. At December 31, 2019, what was reported on the balance sheet for Timberlands and for Lumber inventory, respectively

Amanufacturing firm is considering overhauling the existing compensation strategy. currently every front line employee who works on the assembly line earns the same hourly wage. ideally, management would like to institute a new pay system that involves pay-for-performance. which of the following recommendations is both consistent with scientific management's general emphases and generally good advice for management of this firma. the firm should adopt a differential pay system with one pay level for average performance, and a higher level for good performance. b. the firm should adopt a differential pay system, but the firm should modify it from its original design and provide many different levels of pay associated with different performance levels. c. the firm should understand worker psychology and to focus on pay as the key motivator. d. all of the abovee. none of the above