Farnsworth television makes and sells portable television sets. each television regularly sells for $200. the following cost data per television are based on a full capacity of 12,000 televisions produced each period: * direct materials = $75* direct labor = $55* manufacturing overhead (75% variable and 25% unavoidable fixed) $48farnsworth has received a special order for a sale of 2,500 televisions to an overseas customer. the only selling costs that would be incurred on this order would be $10 per television for shipping. farnsworth is now selling 7,200 televisions through regular distributors each period. what should be the minimum selling price per television in negotiating a price for this special order?
1) $2002) $1663) $1784) $176

In march 2018, the phillips tool company signed two purchase commitments. the first commitment requires phillips to purchase inventory for $110,000 by june 15, 2018. the second commitment requires the company to purchase inventory for $160,000 by august 20, 2018. the company's fiscal year-end is june 30. phillips uses a periodic inventory system. the first commitment is exercised on june 15, 2018, when the market price of the inventory purchased was $90,000. the second commitment was exercised on august 20, 2018, when the market price of the inventory purchased was $125,000. required: prepare the journal entries required on june 15, june 30, and august 20, 2018, to account for the two purchase commitments. assume that the market price of the inventory related to the outstanding purchase commitment was $144,000 at june 30. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)