Pb2.
lo 4.4rulers company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. the cost to make job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. during the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense.

what is the predetermined overhead rate if machine hours are considered the cost driver?
what is the cost of job 416?
what is the overhead incurred during the month?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.