(a) Money borrowed to pay building contractor (signed a note) $(279,600 ) (b) Payment for construction from note proceeds 279,600 (c) Cost of land fill and clearing 10,990 (d) Delinquent real estate taxes on property assumed by purchaser 8,760 (e) Premium on 6-month insurance policy during construction

Morgana company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $168,000, $315,900, an $97,200, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,100, machine hours 24,300, and number of inspections 1,800. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?

China white was the black market selling of ivory, in which the profit was redistributed back into the trafficking of heroin.