Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash
Using the following year end information for bauman, LLC calculate the current ratio and acid test ratio.
Short-term investments
Accounts receivable
Inventory
Prepaid expenses
Accounts payable
Other current payables
$45,680
10,000
42,500
245,000
14,320
90,700
23,800

Performance bicycle company makes steel and titanium handle bars for bicycles. it requires approximately 1 hour of labor to make one handle bar of either type. during the most recent accounting period, barr company made 7,700 steel bars and 2,300 titanium bars. setup costs amounted to $35,000. one batch of each type of bar was run each month. if a single company-wide overhead rate based on direct labor hours is used to allocate overhead costs to the two products, the amount of setup cost assigned to the steel bars will be: