Jellyfish machine shop is a manufacturer of motorized carts for vacation resorts.
patrick cullin, the plant manager of jellyfish, obtains the following information fo r job # 10 in august 2014.
a total of 46 units were started, and 6 spoiled units were detected and rejected at the final inspection, yielding 40 good units. the spoiled units were considered to be normal spoilage.
costs assigned prior to the inspection poi nt are $1,100 per unit. the current disposal price of the spoiled units is $235 per unit.
when the spoilage is detected, the spoiled goods are inventoried at $235 per unit.

answer the following questions:

1. what is the normal spoilage rate?

2. prepare the jo urnal entries to record the normal spoilage, assuming the following:

a. the spoilage is related to a specific job.

b. the spoilage is common to all jobs.

c. the spoilage is considered to be abnormal spoilage.

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.

Which of the following is not an example of one of the four mail advantages of prices on a free market economy