1. Mickey Company's pre-determined overhead rate is $14.00 per direct labor hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job-A-500 Direct Materials Direct Labor $230 $108 Instructions: a What is the total manufacturing costs assigned to Job-A-500? b. If Job-A-500 consists of 40 units, what is the average cost assigned to each unit included in the job? 2. Learning Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials Total labor wages of $112,000 were incurred. Of this amount $101,000 was for the direct labor and the remainder was for indirect labor c. d. Additional manufacturing overhead costs of $175,000 were incurred nstructions: ecord the above transactions in journal entries. 3. The Lakeshore Hotel's guest days of occupancy and custodial supplies expense over the last seven months were Guest-Days Custodial of Occupancy Supplies Exp. 4,000 Month March $7,500 Type here to search April May June July August September 6,500 $8,250 $10,500 $12,000 $13,500 $10,750 $9,750 10,500 12,000 7,500 Instructions a. Using the high-low method, estimate a cost formula for custodial supplies b. Using the cost formula you derived above, what amount of expense custodial expect to be incurred at an occupancy level of supplies expense would you 11,000 guest days? On the first day of its fiscal year, Keller Company issued $25,000,000 of five-year, 10% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 12%, resulting in KellerCompany receiving cash of S 23.160.13. Journalize the entries to record the following: a. 1. Sale of the bonds 2. First rst semiannual interest payment. (amortization of gain/discount is to be recorded annually) 3. 4. second semiannual interest payment A mortization of the gain/discount at the end of the first year, using the straight-line method (Round to the nearest dollar) b. Determine the amount of the bond interest expense for the first year hree different plans for financing an $18,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount, and the income tax rate is estimated at 40% of income Plan 1 Plan 3 Plan 2 8% Bonds 9,000,000 Preferred 496 stock, $20 Par 4,500,000 4,500,000 18,000,000 9,000,000 9,000000 Common Stock $10 par 18,000,000 Total 18,000,000 1 Determine the earnings per share of common stock for each plan, accounting that the income before bond interest and income tax is $2,100,000 Determine the earnings per share of common stock for each plan, assuming that the income before bond interest and income tax is $1,050,000. 2