Herc co.'s inventory on december 31, 2005 was $1,500,000, based on a physical count priced at cost, and before any necessary adjustment for the following: • merchandise costing $90,000, shipped fob shipping point from a vendor on december 30, 2005, was received and recorded on january 5, 2006. • goods in the shipping area were excluded from inventory although shipment was not made until january 4, 2006. the goods, billed to the customer fob shipping point on december 30, 2005, had a cost of $120,000. what amount should herc report as inventory in its december 31, 2005, balance sheet?

The distinction between a normal and an inferior good is

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.

Blank is the internal operation that arranges information resources to support business performance and outcomes