Rusty Hardware makes only cash sales. It began 2021 with a credit balance of $32,600 in the refund liability account. Sales during 2021 were $660,000. Rusty estimates that 6% of all sales will be returned. During 2021, customers returned merchandise for credit of $29,200 to their accounts. What is the balance in the refund liability account at the end of 2021

Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection