Exercise 13-5 Determination of income effects from common-size and trend percents LO P1, P2

Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow.

Common-Size Percents Trend Percents
2017 2016 2015 2017 2016 2015
Sales 100.0 % 100.0 % 100.0 % 105.4 % 104.2 % 100.0 %
Cost of goods sold 63.4 61.9 59.1 113.1 109.1 100.0
Operating expenses 15.3 14.8 15.1 106.8 102.1 100.0

Determine the net income for the following years. (Enter all amounts as positive values.)

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)