On january 1, year 1, manning company granted 97,000 stock options to certain executives. the options are exercisable no sooner than december 31, year 3, and expire on january 1, year 6. each option can be exercised to acquire one share of $1 par common stock for $8. an option-pricing model estimates the fair value of the options to be $4 on the date of grant. at the time of issuance, no estimate of forfeitures is made. if unexpected turnover in year 2 caused the company to now estimate that 20% of the options would be forfeited, what amount should manning recognize as compensation expense for year 2?

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

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Lycan, inc., has 7.5 percent coupon bonds on the market that have 8 years left to maturity. the bonds make annual payments and have a par value of $1,000. if the ytm on these bonds is 9.5 percent, what is the current bond price? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) current bond price