"richard operates a hair styling boutique out of his home. the boutique occupies 420 of the home's 1,200 square feet of floor space. other information is as followsgross income from the boutique $10,000supplies for the boutique $ 2,400depreciation on total residence $12,000utilities for total residence $ 6,000"what amount of income or loss from the boutique should richard show on his return? a.$3,500 incomeb.$1,300 incomec.$0 income or lossd.$10,400 losse. none of these choices are correct.

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold. mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)