Students also viewed
Recent flashcard sets
Sets found in the same folder
Other sets by this creator
Presented below is information related to equipment owned by Pujols Company at December 31, 2017.
Assume that Pujols will continue to use this asset in the future. As of December 31, 2017, the equipment has a remaining useful life of 8 years. Pujols uses straight-line depreciation.
- a. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2017.
- b. Prepare the journal entry to record depreciation expense for 2018.
- c. The recoverable amount of the equipment at December 31, 2018, is $6,050,000. Prepare the journal entry (if any) necessary to record this increase.
Find the regular earnings, overtime earnings, gross earnings, Social Security tax (6.2%), Medicare tax (1.45%), and state disability insurance deduction (1%) for the employee. Assume that no employee will have earned more than the FICA or SDI maximum at the end of the current pay period. Assume that time and a half is paid for any overtime in a 40-hour week.
|Employee||Hours Worked||Regular Rate||Regular Earnings||Overtime Earnings||Gross Earnings||Social Security Tax||Medicare Tax||SDI Deduction|
Annual demand for a product is 13,000 units; weekly demand is 250 units with a standard deviation of 40 units. The cost of placing an order is , and the time from ordering to receipt is four weeks. The annual inventory carrying cost is per unit. To provide a 98 percent service probability, what must the reorder point be? Suppose the production manager is told to reduce the safety stock of this item by 100 units. If this is done, what will the new service probability be?