Hello, memorandum is needed about the case and answer required questions. Task is to research the applicable ASC's and other materials, and provide background informationexplanations with ORIGINALLY DEVELOPED examples that show the reader the debits and credits of the transaction (where applicable). The grade will be based on the comprehensiveness of your answer, correct referencing, clarity and directness ofyour analysis and explainatory examples provided.

Case 15-11} Spare the Red Stellar Bri ght Solar [5B5 or the \"Company'j is a business that oontracts to develop, construct, and operate solar power plants. BBS entered into a contract to support the Big Desert solar power plant. According to the contract terms, BBB is responsible for the day-to-day operations of Big Desert as well as for general maintenance and repairs. Big Desert expects BBB to provide routine maintenance for continued operation of the plant and respond to equipment breakdowns and failures by providing immediate repairs. In addition, the terms of the contract require BBS to procure necessary materials to operate, maintain, and repair the plant. To comply with this requirement, the Company must maintain a certain level of materials and supplies (the \"spare parts\") at all times. Du a regular basis, BBS reviews a listing provided by Big Desert of recommended spare parts for various components of the solar power plant and procures the necessary parts. Vendors deliver the parts to BBB along with a complete listing that describes the quantity and cost of the parts provided. EBB maintains this listing and uses it to {1} track expected usage of the spare parts and (2] determine their expected useful lives. The spare parts consist of customized and generic parts that vary in cost, procurement time, expected usage [i.e., emergency replacement, standard replacement], and expected useful life. Big Desert uses the composite depaeci atiou method for substantially all of the plant, and it expenses all major plant maintenance. Required: 1. How should BBS classify the spare parts that it expects to use within one year as inventory or as a prepaidfotlier current asset? 2. Should Big Desert depreciate the spare parts over their estimated useful lives or expense them as consumed