Splish Brothers Industries collected $106,000 from customers in 2019. Of the amount collected, $25,700 was for services performed in 2018. In addition, Splish Brothers performed services worth $39,100 in 2019, which will not be collected until 2020. Splish Brothers Industries also paid $70,700 for expenses in 2019. Of the amount paid, $30,900 was for expenses incurred on account in 2018. In addition, Splish Brothers incurred $40,700 of expenses in 2019, which will not be paid until 2020. (a) Compute 2019 cash-basis net income. Cash-basis net income $ (b) Compute 2019 accrual-basis net income. Accrual-basis net income $

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6