On july 8, jones inc. issued an $80,000, 6%, 120-day note payable to miller company. assume that the fiscal year of jones ends july 31. using a 360-day year, what is the amount of interest expense recognized by jones in the current fiscal year? when required, round your answer to the nearest dollar.

Teller co. is planning to sell 900 boxes of ceramic tile, with production estimated at 870 boxes during may. each box of tile requires 44 pounds of clay mix and a quarter hour of direct labor. clay mix costs $0.40 per pound and employees of the company are paid $12.00 per hour. manufacturing overhead is applied at a rate of 110% of direct labor costs. teller has 3,900 pounds of clay mix in beginning inventory and wants to have 4,500 pounds in ending inventory. what is the total amount to be budgeted for manufacturing overhead for the month?

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units, setup cost is $50, holding cost is $12 per unit per year, the daily demand rate is 10 and the daily production rate is 100. the production order quantity for this problem is approximately: