On January 1, 2020, Metlock Company has the following defined benefit pension plan balances. Projected benefit obligation $4,464,000 Fair value of plan assets 4,190,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $504,000 are created. Other data related to the pension plan are as follows. 2020 2021 Service cost $148,000 $181,000 Prior service cost amortization 0 89,000 Contributions (funding) to the plan 242,000 279,000 Benefits paid 198,000 274,000 Actual return on plan assets 251,400 264,000 Expected rate of return on assets 6 % 8 %
Instructions:
(a) Prepare a pension worksheet for the pension plan for 2020 and 2021.
(b) For 2021, prepare the journal entry to record pension-related amounts.

Which of the following best describes biochemical evidence that would not support the modern concept of evolution? a. a bacterium that uses inorganic materials to produce energy b. an organism that does not undergo cellular respiration c. a species of bacteria that is capable of photosynthesis d. an organism that undergoes both aerobic and anaerobic respiration

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Norton manufacturing expects to produce 2,900 units in january and 3,600 units in february. norton budgets $20 per unit for direct materials. indirect materials are insignificant and not considered for budgeting purposes. the balance in the raw materials inventory account (all direct materials) on january 1 is $38,650. norton desires the ending balance in raw materials inventory to be 10% of the next month's direct materials needed for production. desired ending balance for february is $51,100. what is the cost of budgeted purchases of direct materials needed for january? $58,000 $65,200 $26,550 $25,150