1. on january 1, 2010, swanson company buys 300,000 shares of lifesys, inc.’s common stock for $1,800,000, the book value of the shares. this purchase gave swanson a 30% ownership in lifesys and the ability to exercise significant influence over operating and financing decisions. during 2010, lifesys reported net income of $500,000 and paid a $1.20 per share dividend. what is the balance in swanson’s investment in lifesys account at december 31, 2010?

On january 1, jackson, inc.'s work-process inventory account showed a balance of $ 66,500. during the year, materials requisitioned for use in production amounted to $ 70,500, of which $ 67,700 represented direct materials. factory wages for the period were $ 210,000 of which $ 187,000 were for direct labor. manufacturing overhead is allocated on the basis of 60% of direct labor cost. actual overhead was $ 116,050. jobs costing $ 353,060 were completed during the year. the december 31 balance in work-process inventory is

Explain the relationship between consumers and producers in economic growth and activity

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)