Cheyenne industries and ayayai inc. enter into an agreement that requires ayayai inc. to build three diesel-electric engines to cheyenne’s specifications. upon completion of the engines, cheyenne has agreed to lease them for a period of 10 years and to assume all costs and risks of ownership. the lease is noncancelable, becomes effective on january 1, 2017, and requires annual rental payments of $445,445 each january 1, starting january 1, 2017. cheyenne’s incremental borrowing rate is 10%. the implicit interest rate used by ayayai inc. and known to cheyenne is 9%. the total cost of building the three engines is $2,743,000. the economic life of the engines is estimated to be 10 years, with residual value set at zero. cheyenne depreciates similar equipment on a straight-line basis. at the end of the lease, cheyenne assumes title to the engines. collectibility of the lease payments is reasonably certain; no uncertainties exist relative to unreimbursable lessor costs. click here to view factor tables (b) prepare the journal entry or entries to record the transaction on january 1, 2017, on the books of cheyenne industries.

For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

Double corporation acquired all of the common stock of simple company for