The following information is taken from the accounts of latta company. the entries in the t-accounts are summaries of the transactions that affected those accounts during the year. manufacturing overhead work in process (a) 460,000 (b) 390,000 bal. 15,000(c) 710,000 260,000 bal. 70,000 85,000 (b) 390,000 bal. 40,000 finished goods cost of goods soldbal. 50,000 (d) 640,000(d) 640,000 (c) 710,000 bal. 120,000 the overhead that had been applied to production during the year is distributed among the ending balances in the accounts as follows: work in process, ending $ 19,500 finished goods, ending 58,500 cost of goods sold 312,000 overhead applied $ 390,000 for example, of the $40,000 ending balance in work in process, $19,500 was overhead that had been applied during the year. required: 1. identify the reasons for entries (a) through (d). 2. assume that the company closes any balance in the manufacturing overhead account directly to cost of goods sold. prepare the necessary journal entry. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.) 3. assume instead that the company allocates any balance in the manufacturing overhead account to the other accounts in proportion to the overhead applied during the year that is in the ending balance in each account. prepare the necessary journal entry. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations.)

Eager, a tipped employee, reported to his employer that he had received $320 in tips during march. on the next payday, april 4, he was paid his regular salary of $250. the amount of oasdi taxes to withhold from eager’s pay is a. $19.84 b. $15.50 c. $35.34 d. $43.61 e. none of the above. 2 points

Xie company identified the following activities, costs, and activity drivers for 2017. the company manufactures two types of go-karts: deluxe and basic. activity expected costs expected activity handling materials $ 625,000 100,000 parts inspecting product 900,000 1,500 batches processing purchase orders 105,000 700 orders paying suppliers 175,000 500 invoices insuring the factory 300,000 40,000 square feet designing packaging 75,000 2 models required: 1. compute a single plantwide overhead rate, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. in january 2017, the deluxe model required 2,500 direct labor hours and the basic model required 6,000 direct labor hours. assign overhead costs to each model using the single plantwide overhead rate.

Onsider the following subscription behavior information from genie, a web site that provides tools for constructing a family tree (ancestor search). subscriptions cost $9.99 per month, but you are charged for the entire year at the time of purchase. there is a one-year minimum term when you sign up for the service. once purchased, subscriptions are set to renew automatically unless the subscriber cancels them. when a membership renews, it renews for a one-year term and again you are charged for the entire year. there are no variable costs associated with providing this service to an individual customer, but genie does engage in customer relationship activities that they believe will increase customer retention. these customer relationship activities cost genie about $10 per year per customer. based on a sample of 1000 customers that joined genie five years ago, near the time when the company was founded, they were able to determine how many of those customers remained subscribers in the second year, third year etc. based on this information, genie calculated the average annual retention rate to be 20%. genie uses an annual discount rate of 8%. a. last year, genie spent $10,000 placing advertisements on google. genie management believes that these advertisements were responsible for about 300 new subscribers. would you recommend to genie management that they purchase more google ads? b. suppose a newly-introduced loyalty program increases the number of customers that remained to 30%. does this new data change your answer to 9.a? c. do you have any hesitations or concerns about making recommendations to management based on your above estimate of customer lifetime value?