In 2017, eklund, inc., issued for $103 per share, 90,000 shares of $100 par value convertible preferred stock. one share of preferred stock can be converted into three shares of eklund's $25 par value common stock at the option of the preferred stockholder. in august 2018, all of the preferred stock was converted into common stock. the market value of the common stock at the date of the conversion was $30 per share. what would the proper journal entry be as a result of the conversion of the preferred stock into common stock?

crow design, inc. is a web site design and consulting firm. the firm uses a job order costing system in which each client is a different job. crow design assigns direct labor, licensing costs, and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. direct labor hours (professional) 6,250 hours direct labor costs ($1,800,000 support staff salaries ,000 computer ,000 office ,000 office ,000 in november 2012, crow design served several clients. records for two clients appear here: delicious treats mesilla chocolates direct labor 700 hours 100 hours software licensing $ 4,000 $400 travel costs 8,000 1. compute crow design’s direct labor rate and its predetermined indirect cost allocation rate for 2012. 2. compute the total cost of each job. 3. if simone wants to earn profits equal to 50% of service revenue, how much (what fee) should she charge each of these two clients? 4. why does crow design assign costs to jobs?