Johnson waterworks corporation provides plumbing services. transactions during the first year of operations are provided below.
a) received $14,000 cash and issued common stock to mitchell johnson.
b) paid $1,300 for equipment to be used for plumbing repairs.
c) borrowed $15,000 from a local bank and deposited the money in the checking account.
d) paid $300 in rent for the year.
e) paid $400 for plumbing supplies to be used on various jobs next year.
f) completed a plumbing repair for a law firm and received $3,200.
calculate the amount of total assets at the end of the first year. assume the plumbing supplies of $400 are left at the end of the year.
a. $3,400
b. $20,200
c. $10,000
d. $12,000

The chromosome manufacturing company produces two products, x and y. the company president, jean mutation, is concerned about the fierce competition in the market for product x. she notes that competitors are selling x for a price well below chromosome's price of $13.50. at the same time, she notes that competitors are pricing product y almost twice as high as chromosome's price of $12.50.ms. mutation has obtained the following data for a recent time period: product x product y number of units 11,000 3,000 direct materials cost per unit $3.23 $3.09 direct labor cost per unit $2.22 $2.10 direct labor hours 10,000 3,500 machine hours 2,100 1,800 inspection hours 80 100 purchase orders 10 30ms. mutation has learned that overhead costs are assigned to products on the basis of direct labor hours. the overhead costs for this time period consisted of the following items: overhead cost item amount inspection costs $16,200 purchasing costs 8,000 machine costs 49,000 total $73,200using direct labor hours to allocate overhead costs determine the gross margin per unit for product x. choose the best answer from the list below.a. $1.93b. $3.12c. $7.38d. $2.43e. $1.73using activity-based costing for overhead allocation, determine the gross margin per unit for product y. choose best answer from list below.a. $10.07b. ($2.27)c. ($5.23)d. ($7.02)e. $7.02

Miller company’s most recent contribution format income statement is shown below: total per unit sales (20,000 units) $300,000 $15.00 variable expenses 180,000 9.00 contribution margin 120,000 $6.00 fixed expenses 70,000 net operating income $ 50,000 required: prepare a new contribution format income statement under each of the following conditions (consider each case independently): (do not round intermediate calculations. round your "per unit" answers to 2 decimal places.) 1. the number of units sold increases by 15%.

Kcompany estimates that overhead costs for the next year will be $4,900,000 for indirect labor and $1,000,000 for factory utilities. the company uses direct labor hours as its overhead allocation base. if 100,000 direct labor hours are planned for this next year, what is the company's plantwide overhead rate?