Following are some transactions and events of business solutions. feb. 26 the company paid cash to lyn addie for eight days' work at $135 per day. mar. 25 the company sold merchandise with a $2,032 cost for $2,930 on credit to wildcat services, invoice dated march 25. required: 1. assume that lyn addie is an unmarried employee. her $1,080 of wages are subject to no deductions other than fica social security taxes, fica medicare taxes, and federal income taxes. her federal income taxes for this pay period total $108. compute her net pay for the eight days' work paid on february 26. 2. record the journal entry to reflect the payroll payment to lyn addie as computed in part 1. 3. record the journal entry to reflect the (employer) payroll tax expenses for the february 26 payroll payment. assume lyn addie has not met earnings limits for futa and suta (the futa rate is 0.6% and the suta rate is 4% for the company). 4. record the entries for the merchandise sold on march 25 if a 4% sales tax rate applies.

Which of the following best explains how the invention of money affected the barter system? a. the invention of money supplemented the barter system by providing a nonperishable medium of exchange b. the invention of money completely replaced the barter system with a free-market system c. the invention of money had no effect on the barter system d. the invention of money drastically reduced the value of goods used in the barter system 2b2t

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?