of All of the following regarding accounting for Treasury Stock are true except: Select one: a. Corporations do not record gains or losses on transactions involving their own stock. b. Treasury Stock receives cash dividends but not stock dividends. O c. Purchasing Treasury Stock reduces the corporation's assets and equity by equal amounts. O d. Treasury Stock is presented on the balance sheet as a contra equity account. e. Treasury Stock does not have voting rights.

During March, the production department of a process operations system completed and transferred to finished goods 25,000 units that were in process at the beginning of March and 110,000 units that were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to labor. At the end of March, 30,000 additionai units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. The production department incurred direct materials cost of $253,000 and its beginning irventory included materials cost of $93,500. Compute the direct materials cost por equivalent unit for the department using the weightedaverage method. Select one: a. $1.53 b. $248 +52.10 . d. 52.57 . e. $240