Landline is considering whether it should recognize revenue related to its arrangement with pru on a gross or net basis. in doing so, landline asks for your . prepare a memo addressing the following questions. base your analysis of the following questions on the relevant authoritative literature and discuss the support in that literature for your conclusions. be sure to cite the relevant components of the codificationin your discussion. citations are not required for journal entries.1.what are the accounting issue(s) and the relevant components of the authoritative literature? 2.should landline recognize revenue gross (i. e., as a principal) for the amount billed to the customerfor their time spent using the "1-900" number, or net (i. e., as an agent) for the net amount retained by landline? 3.what journal entries are necessary to appropriately account for each minute a customer spends using pru's "1-900" number?

White company has two departments, cutting and finishing. the company uses a job-order costing system and computes a predetermined overhead rate in each department. the cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labor-hours. at the beginning of the year, the company made the following estimates: department cutting finishing direct labor-hours 6,000 30,000 machine-hours 48,000 5,000 total fixed manufacturing overhead cost $ 264,000 $ 366,000 variable manufacturing overhead per machine-hour $ 2.00 " variable manufacturing overhead per direct labor-hour " $ 4.00 required: 1. compute the predetermined overhead rate for each department. 2. the job cost sheet for job 203, which was started and completed during the year, showed the following: department cutting finishing direct labor-hours 6 20 machine-hours 80 4 direct materials $ 500 $ 310 direct labor cost $ 108 $ 360 using the predetermined overhead rates that you computed in requirement (1), compute the total manufacturing cost assigned to job 203. 3. would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

For each example identify the most appropriate ctso

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?