Zagat Inc. enters into an agreement on March 1, 2014, to sell Werner Metal Company aluminum ingots in 2 months. As part of the agreement, Zagat also agrees to repurhcase the ingots in 60 days at the original sales price of $200,000 plus 2%. (Because Zagat has an unconditional obligation to repurchase the ingots at an amount greater than the original sales price, the transaction is treated as financing.)

A) Prepare the journall entry necessary on March 1, 2014.

B) Prepare the journal entry for the repurchase of the ingots on May 1, 2014.

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crow design, inc. is a web site design and consulting firm. the firm uses a job order costing system in which each client is a different job. crow design assigns direct labor, licensing costs, and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. direct labor hours (professional) 6,250 hours direct labor costs ($1,800,000 support staff salaries ,000 computer ,000 office ,000 office ,000 in november 2012, crow design served several clients. records for two clients appear here: delicious treats mesilla chocolates direct labor 700 hours 100 hours software licensing $ 4,000 $400 travel costs 8,000 1. compute crow design’s direct labor rate and its predetermined indirect cost allocation rate for 2012. 2. compute the total cost of each job. 3. if simone wants to earn profits equal to 50% of service revenue, how much (what fee) should she charge each of these two clients? 4. why does crow design assign costs to jobs?

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.