An upgraded version of a CNC machine has a first cost of $200,000, an annual operating cost of $60,000, and a salvage value of $50,000 after its 8-year life. At an interest rate of 10% per year, the capitalized cost is closest to

12. nelson corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 115 units in beginning inventory 380 units produced 5,900 units sold 6,070 units in ending inventory 210 variable costs per unit: direct materials $ 46 direct labor $ 27 variable manufacturing overhead $ 3 variable selling and administrative $ 12 fixed costs: fixed manufacturing overhead $ 112,100 fixed selling and administrative $ 36,420 the company produces the same number of units every month, although the sales in units vary from month to month. the company's variable costs per unit and total fixed costs have been constant from month to month. a. prepare a contribution format income statement for the month using variable costing. unit product cost under variable costing direct materials direct labor variable manufacturing overhead variable costing unit product cost (formula)

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

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