Daffodil company produces two products, flower and planter. flower is a high-volume item totaling 20,000 units annually. planter is a low-volume item totaling only 6,000 units per year. flower requires one hour of direct labor for completion, while each unit of planter requires 2 hours. therefore, total annual direct labor hours are 32,000 (20,000 + 12,000). expected annual manufacturing overhead costs are $800,000. daffodil uses a traditional costing system and assigns overhead based on direct labor hours. each unit of planter would be assigned overhead of

Which of the following best describes why you need to establish goals for your program?

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.

Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?