The Stockholders of the Apex Corporation Attended a Special Meeting

question 2

Essay

The stockholders of the Apex Corporation attended a special meeting of the stockholders called to discuss matters of extreme urgency to the corporation. A quorum was not present when the meeting opened, nor was a quorum present when the matters to be treated in the meeting were discussed. Management, however, felt that the importance of the issue was significant enough to warrant continuation of the meeting without a quorum, and the stockholders voted on the issues presented during the meeting. During the last fifteen (15) minutes of the meeting, just prior to the cocktail hour regularly attended by many stockholders, enough stockholders had arrived to constitute a quorum. Were the issues of this meeting dealt with in a valid manner?

Calculate the total costs transferred from one processing department to the next.

Compute the cost of units transferred out of a department.

Understand the calculation of ending work in process inventory cost.

Develop proficiency in reading and interpreting process costing data.