The partial worksheet for the Jamison Company showed the following data on October 31, 2019. INCOME STATEMENT BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Jason Jamison, Capital 32,500 Jason Jamison, Drawing 2,750 Fees Income 22,500 Salaries Expense 11,400 Rent Expense 1,250 Supplies Expense 650 Utilities Expense 750 Depr. Exp. −Equip. 1,100 Totals 15,150 22,500 44,150 36,800 Net Income 7,350 7,350 22,500 22,500 44,150 44,150 Prepare the closing entries for Jamison Company on October 31, 2019

The plastic flowerpots company has two manufacturing departments, molding and packaging. at the beginning of the month, the molding department has 2,100 units in inventory, 70% complete as to materials. during the month, the molding department started 18,500 units. at the end of the month, the molding department had 3,150 units in ending inventory, 80% complete as to materials. units completed in the molding department are transferred into the packaging department. cost information for the molding department for the month follows: beginning work in process inventory (direct materials) $ 1,300 direct materials added during the month 28,900 using the weighted-average method, compute the molding department's (a) equivalent units of production for materials and (b) cost per equivalent unit of production for materials for the month. (round "cost per equivalent unit of production" to 2 decimal places.)

20. sinclair company's single product has a selling price of $25 per unit. last year the company reported a profit of $20,000 and variable expenses totaling $180,000. the product has a 40% contribution margin ratio. because of competition, sinclair company will be forced in the current year to reduce its selling price by $2 per unit. how many units must be sold in the current year to earn the same profit as was earned last year? a. 15,000 units b. 12,000 units c. 16,500 units d. 12,960 units

Your family business uses a secret recipe to produce salsa and distributes it through both smaller specialty stores and chain supermarkets. the chain supermarkets have been demanding sizable discounts, but you do not want to drop your prices to the specialty stores. true or false: the robinson-patman act limits your ability to offer discounts to the chain supermarkets while leaving the price high for the smaller stores. true false