Ratchford Clocks manufactures alarm clocks and wall clocks and allocates overhead based on direct labor hours. The production process is set up in three departments: Assembly, Finishing, and Calibrating. The following is information regarding the direct labor used to produce one unit of the two clocks: Per Unit Hours: Assembly Finishing Calibrating Alarm clocks 3 1 1 Wall clocks 2 3 2 5 4 3 The budget includes the following factory overhead by department: Assembly Department $595,000 Finishing Department 200,000 Calibrating Department 140,000 Total $935,000 Ratchford Clocks is planning to manufacture 50,000 alarm clocks and 10,000 wall clocks. a. Determine the total number of hours that will be needed by department. Assembly dlh Finishing dlh Calibrating dlh b. Determine the factory overhead rate by department using the multiple production department factory overhead rate method. Round your answers to two decimal places, if necessary. Assembly $ per direct labor hour Finishing $ per direct labor hour Calibrating $ per direct labor hour c. Determine the amount of factory overhead to be allocated to each unit of alarm clocks and wall clocks. Round your answers to two decimal places, if necessary. Alarm Clock $ per unit Wall Clock $d. Determine the amount of total factory overhead to be allocated to the alarm clocks and wall clocks. $

Selected information about income statement accounts for the reed company is presented below (the company's fiscal year ends on december 31): 2018 2017sales $ 4,400,000 $ 3,500,000cost of goods sold 2,860,000 2,000,000administrative expenses 800,000 675,000selling expenses 360,000 312,000interest revenue 150,000 140,000interest expense 200,000 200,000loss on sale of assets of discontinued component 50,000 —on july 1, 2018, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by gaap. the assets of the component were sold on september 30, 2018, for $50,000 less than their book value. results of operations for the component (included in the above account balances) were as follows: 1/1/18-9/30/18 2017 sales $ 400,000 $ 500,000 cost of goods sold (290,000 ) (320,000 )administrative expenses (50,000 ) (40,000 )selling expenses (20,000 ) (30,000 )operating income before taxes $ 40,000 $ 110,000 in addition to the account balances above, several events occurred during 2018 that have not yet been reflected in the above accounts: a fire caused $50,000 in uninsured damages to the main office building. the fire was considered to be an infrequent but not unusual event. inventory that had cost $40,000 had become obsolete because a competitor introduced a better product. the inventory was sold as scrap for $5,000.income taxes have not yet been recorded. required: prepare a multiple-step income statement for the reed company for 2018, showing 2017 information in comparative format, including income taxes computed at 40% and eps disclosures assuming 300,000 shares of common stock. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)