Come-clean corporation produces a variety of cleaning compounds and solutions for both industrial and household use. while most of its products are processed independently, a few are related, such as the company’s grit 337 and its sparkle silver polish. grit 337 is a coarse cleaning powder with many industrial uses. it costs $1.60 a pound to make, and it has a selling price of $2.00 a pound. a small portion of the annual production of grit 337 is retained in the factory for further processing. it is combined with several other ingredients to form a paste that is marketed as sparkle silver polish. the silver polish sells for $4.00 per jar. this further processing requires one-fourth pound of grit 337 per jar of silver polish. the additional direct costs involved in the processing of a jar of silver polish are: other ingredients $ 0.65 direct labor 1.48 total direct cost $ 2.13

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Captain john's yachts, inc., located in fort lauderdale, florida, rents three types of ocean-going boats: sailboats, cabin cruisers, and captain john's favorite, the luxury yachts. captain john advertises his boats with his famous "you rent"we pilot" slogan, which means that the company supplies the captain and crew for each rented boat. each rented boat has one captain, of course, but the crew sizes (deck hands, galley hands, etc.) differ. the crew requirements, in addition to a captain, are one for sailboats, two for cabin cruisers, and three for yachts. ten employees are captains, and an additional 18 employees fill the various crew positions. currently, captain john has rental requests for all his boats: four sailboats, eight cabin cruisers, and three luxury yachts. if captain john's daily profit contribution is $50 for sailboats, $70 for cruisers, and $100 for luxury yachts, how many boats of each type should he rent?

Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?