R-p packaging manufactured cellophane wrapping material that was used by kern’s bakery in packaging its product. kern’s decided to change its system for packaging cookies from a tied bread bag to a tray covered with printed cellophane wrapping. r-p took measurements to determine the appropriate size for the cellophane wrapping and designed the artwork to be printed on the wrapping. after agreeing that the artwork was satisfactory, kern placed a verbal order for the cellophane at a total cost of $13,000. when the printed wrapping material was received, kern complained that it was too short for the trays and that the art work was not centered. the material, however, conformed exactly to the order placed by kern. kern returned the material to r-p by overnight express. r-p sued kern. kern claimed that because there was no written contract, the suit was barred by the statute of frauds. what result? [flowers baking co. v. r-p packaging, inc., 329 s. e.2d 462 (va.)]

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

Kando company incurs a $9 per unit cost for product a, which it currently manufactures and sells for $13.50 per unit. instead of manufacturing and selling this product, the company can purchase product b for $5 per unit and sell it for $12 per unit. if it does so, unit sales would remain unchanged and $5 of the $9 per unit costs assigned to product a would be eliminated. 1. prepare incremental cost analysis. should the company continue to manufacture product a or purchase product b for resale? (round your answers to 2 decimal places.)

The purpose of safety stock is to: a. eliminate the possibility of a stockout. b. control the likelihood of a stockout due to variable demand and/or lead time. c. eliminate the likelihood of a stockout due to erroneous inventory tally. d. protect the firm from a sudden decrease in demand. e. replace failed units with good ones.