Calvin Brooke makes a commercial cooking equipment. For a volume of 20,000 units, following information was estimated: Particulars Direct Materials Direct Labor Variable Manufacturing Overheads Fixed Manufacturing Overheads Variable Selling and administrative expenses Fixed Selling and Administrative expenses Per Unit Total 16 9. 10 S 220,000 6. S 140,000 He uses a 35% mark-up percentage on total cost. Compute the target selling price. (Round your answer to 2 decimal places) a. Target selling price for the product is $78.00 b. Target selling price for the product is $79.00 c. Target selling price for the product is $76.25 d. Target selling price for the product is S79.65 A company rented a premise for a year and paid a rent of $24,000 on October 01, 2018 Prepare the adjusting entry to be recorded on December 31, 2018. a. Debit Rent expenses account for $6,000 and credit the Prepaid rent account for S6,000. b. Debit Rent expenses account for $12,000 and credit the Prepaid rent account for S12,000. c. Debit Prepaid rent account for $6,000 and credit the Rent expenses account for S120,000. d. Debit Prepaid rent account for $9,000 and credit the Rent expenses account for $9,000.