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On january 1, 2018, johnstone leased an office building. terms of the lease require johnstone to make 15 annual lease payments of $134,000 beginning on january 1, 2018. a 10% interest rate is implicit in the lease agreement. at what amount should johnstone record the lease liability on january 1, 2018, before any lease payments are made?

Schonhardt corporation's relevant range of activity is 2,500 units to 5,500 units. when it produces and sells 4,000 units, its average costs per unit are as follows: averagecost per unitdirect materials $ 7.60direct labor $ 2.90variable manufacturing overhead $ 1.65fixed manufacturing overhead $ 2.90fixed selling expense $ 0.95fixed administrative expense $ 0.65sales commissions $ 0.75variable administrative expense $ 0.65if 4,500 units are produced, the total amount of fixed manufacturing cost incurred is closest to: multiple choicea $16,800b $11,400c $11,600d $15,400

Because the demand for wheat tends to be inelastic. true or false