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The following information provides the amount of cost incurred in May for the cost items indicated. During May 16,000 units of the firm's single product were manufactured.
Raw Materials: $83,200Factory depreciation expense: $81,000Direct labor: $198,400Production supervisor's salary: $12,200Computer rental expense $8,400Maintenance supplies used $1,600
Required:
A. How much cost would you expect to be incurred for each of these items during June when 19,200 units of the product are planned for production?
B. Calculate the average total cost per unit for the 16,000 units manufactured in May. Explain why this figure would not be useful to a manager interested in predicting the cost of producing 19,200 units in June.
On March 17, Grady Company agrees to accept a 60-day, 9%, $10,200 note from Alert Company to extend the due date on an overdue account. What is the journal entry needed to record the payment of the note by Alert Company on the maturity date?
Sheniqua, a single taxpayer, had taxable income of $73,239. Her employer withheld $14,077 in federal income tax from her paychecks throughout the year. Using the tax tables
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