In 2017, orear manufacturing signed a contract with a supplier to purchase raw materials in 2018 for $700,000. before the december 31, 2017 balance sheet date, the market price for these materials dropped to $510,000. the journal entry to record this situation at december 31, 2017 will result in a credit that should be reporteda) as an appropriation of retained earnings. b) as a valuation account to inventory on the balance sheet. c) on the income statement. d) as a current liability.

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z

You decided to charge $100 for your new computer game, but people are not buying it. what could you do to encourage people to buy your game?

“strategy, plans, and budgets are unrelated to one another.” do you agree? explain. explain how the manager’s choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees.