The polaris company uses a job-order costing system. the following data relate to october, the first month of the company’s fiscal year.

raw materials purchased on account $210,000.

raw materials used to production, $190,000 ($178,000 direct materials amd $12,000 indirect materials).

direct labor cost incurred, $90,000; indirect labor cost incurred, $110,00.

depreciation recorded on factory equipmentnt, $40,000.

other manufacturing overhead costs incurred during october, $70,000 (credit accounts payable).

the company applies manufacturing overhead cost to production on the basis of $8 per machine-hour. a total of 30,000 machine-hours were recorded for october.

production orders costing $520,00 according to their job cost sheets were completed during october and transferred to finished goods.

production orders that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. these goods were sold on account at 25% above cost.

prepare journal entries to record the information given above.

prepare t-accounts for manufacturing overhead and work in process. post the relevant information about to each account. compute the ending balance in each account, assuming that work in process has a beginning balance of $42,000.

Amachine purchased three years ago for $720,000 has a current book value using straight-line depreciation of $400,000: its operating expenses are $60,000 per year. a replacement machine would cost $480,000, have a useful life of nine years, and would require $26,000 per year in operating expenses. it has an expected salvage value of $130,000 after nine years. the current disposal value of the old machine is $170,000: if it is kept 9 more years, its residual value would be $20,000. calculate the total costs in keeping the old machine and purchase a new machine. should the old machine be replaced?

The silverside company is considering investing in two alternative projects: project 1 project 2 investment $500,000 $240,000 useful life (years) 8 7 estimated annual net cash inflows for useful life $120,000 $40,000 residual value $32,000 $10,000 depreciation method straightminusline straightminusline required rate of return 11% 8% what is the accounting rate of return for project 2? (round any intermediary calculations to the nearest dollar, and round your final answer to the nearest hundredth of a percent, x.xx%.)

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.