Curtis Inc. uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $67,995 for the year; direct labor was estimated to total $151,100. (1/1) (12/31)
Raw Materials Inventory $ 11,900 $ 13,500
Work in Process Inventory $ 22,200 $ 18,200
Finished Goods Inventory $ 35,300 $ 39,800
The following transactions have occurred during the year.
Raw materials purchases $ 118,000
Direct materials used $ 109,500
Direct labor $ 147,200
Indirect materials used $ 6,900
Indirect labor $ 15,100
Factory equipment
depreciation $ 24,200
Factory rent $ 19,200
Factory utilities $ 9,400
Other factory costs $ 8,100
(a) Calculate the predetermined overhead rate.(b) Calculate cost of goods manufactured.(c) Calculate the over- or underapplied overhead. (Input all amounts as positive values.)(d) Calculate adjusted cost of goods sold.

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.

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.