City Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $29,100. In addition, City paid sales tax and title fees of $1,210 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $5,360. Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. b

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: