The following costs result from the production and sale of 4,900 drum sets manufactured by tight drums company for the year ended december 31, 2017. the drum sets sell for $340 each. the company has a 35% income tax rate. variable production costs plastic for casing $ 171,500 wages of assembly workers 490,000 drum stands 215,600 variable selling costs sales commissions 161,700 fixed manufacturing costs taxes on factory 6,000 factory maintenance 12,000 factory machinery depreciation 72,000 fixed selling and administrative costs lease of equipment for sales staff 12,000 accounting staff salaries 62,000 administrative management salaries 142,000 required: 1. prepare a contribution margin income statement for the company. 2. compute its contribution margin per unit and its contribution margin ratio.

True or false: a smart store layout moves customers in and out as fast as possible. a) true b) false

On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?