Explain in layman terms "equivalent units of production"
(EUP).
How does the calculation of EUP differ between the
weighted-average (WA) method and the first-in-first-out (FIFO)
method? Which method provides more accurate results, WA or FIFO?
Defend your answer on why.
Discuss in detail how a company would determine how many work in
process (WIP) accounts to maintain when process costing is
employed?
Describe how the Ames test can be used as a test for screening
potential carcinogenic compounds. Include in your answer what an
auxotroph is, why you need an auxotrophic mutant, limits of the
test. Why is meant by spontaneous reversion?
Explain the rationale behind the idea that equity is a call
option on a firm's assets. In other words, explain why equity
ownership of a firm is equivalent to owning a call option on the
firm’s assets. Next, explain what it would mean for shareholders to
allow this call option to expire, and under what circumstances
shareholders would do so.