The Lamp Company (TLC) produces a variety of lamps in a highly automated manufacturing facility. The costs and cost drivers associated with four activity cost centers are given below. These data represent total costs for all types of lamps produced by the Company. Activity CenterUnit-level Batch-level Product-level Facility-levelOverhead Cost$60,000 $24,000 $12,000 $72,000Cost Driver 10,000labor hrs 480setup % of use 72,000unitsAllocation Rate$6per labor hr $50per setup $1per unitDuring the most recent accounting period TLC made 5,000 units of its miniature tiffany lamps. Making the lamps required 600 labor hours, 30 setups, and consumed 20% of the product-level costs. The sales price of the lamps is $18 each. Direct labor and materials cost amounts to $15.80 per lamp. Assume the Company uses a cost plus model to price its products. (Round all computations to three decimal places)If the Company allocates overhead costs using a direct labor hours as the single companywide allocation rate, the Company will show a loss of $0.184 per unit. If the Company allocates overhead costs using activity-based costing, the Company will show a profit of $0.30 per unit. If the Company allocates overhead costs using a direct labor hours as the single companywide allocation rate, the lamps will be underpriced. None of the answers is correct.

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?

Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?

Fractional reserve banking which of the following statements about fractional reserve banking are correct? check all that apply. fractional reserve banking allows banks to create money through the lending process. fractional reserve banking does not allow banks to hold excess reserves. fractional reserve banking allows banks to create additional wealth by lending some reserves. fractional reserve banking relies on everyone not withdrawing their money at the same time.