Teal company is an accrual basis taxpayer. on december 1, 2017, a customer paid for an item that was on hand, but the customer wanted the item delivered in early january 2018. teal delivered the item on january 4, 2018. teal included the sale in its 2017 income for financial accounting purposes. a. teal must recognize the income in 2017.b. teal must recognize the income in the year title to the goods passed to the customer, as determined under the state laws in which the store is located. c. teal can elect to recognize the income in either 2017 or 2018.d. teal must recognize the income in 2018.e. none of these.

Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during march—job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the company’s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next