Sandhill Co. leased equipment to Riggs Company on May 1, 2021. At that time the collectibility of the lease payments was not probable. The lease expires on May 1, 2022. Riggs could have bought the equipment from Sandhill for $5400000 instead of leasing it. Sandhill’s accounting records showed a book value for the equipment on May 1, 2021, of $4700000. Sandhill’s depreciation on the equipment in 2021 was $590000. During 2021, Riggs paid $1164000 in rentals to Sandhill for the 8-month period. Sandhill incurred maintenance and other related costs under the terms of the lease of $108000 in 2021. After the lease with Riggs expires, Sandhill will lease the equipment to another company for two years. Ignoring income taxes, the amount of expense incurred by Riggs from this lease for the year ended December 31, 2021, should be

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

The rybczynski theorem describes: (a) how commodity price changes influence real factor rewards (b) how commodity price changes influence relative factor rewards. (c) how changes in factor endowments cause changes in commodity outputs. (d) how trade leads to factor price equalization.

Suppose that a firm is considering moving from a batch process to an assembly-line process to better meet evolving market needs. what concerns might the following functions have about this proposed process change: marketing, finance, human resources, accounting, and information systems?