Lamour Corporation is a job order costing company that uses activity-based costing to apply overhead to jobs. The following overhead activities were budgeted for the year. Activity Cost Driver Amount of Driver Setups $240,000 number of setups 6,000 Purchasing $160,000 number of parts 20,000 Other Overhead $300,000 direct labor hours 80,000 The following information about the jobs was given for April. Job 101 Job 102 Job 103 Job 104 Balance 4/1 $69,400 $40,770 $30,500 $0 Direct Materials $54,000 $37,900 $25,000 $11,000 Direct Labor $80,000 $38,500 $43,000 $21,000 Number of setups 40 10 30 200 Number of parts 300 80 400 500 Direct labor hours 5,000 2,400 5,200 1,200 By April 30, Jobs 102 and 103 were completed and sold. The remaining jobs were still in process. What is the cost of job 102

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Your take on decision making process

The new york stock exchange is an example of what type of stock market?