All of the following statements concerning annuities are correct EXCEPT: a. The pure life annuity is ideal for the person who needs maximum income spread out over a lifetime and has several living dependents to whom he or she wishes to leave assets.
b. A life annuity with guaranteed minimum payments ensures that the annuitant either receives a minimum number of payments, or will have lifetime income; whichever is greater.
c. In an installment refund annuity, the insurer promises to continue periodic payments after the annuitant has died until the sum of all annuity rent payments equals the purchase price of the annuity.
d. A joint and survivor annuity is an annuity based on the lives of two or more annuitants, usually husband and wife.

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)