Discount Amortization Schedule and Retirement Before maturity, Foster Incorporated sold 5500.000 of 12% bonds onJanuary 1. 2013. for $470,143.47, a price that yields a 14% interest rate. The bonds pay interest semiannually on June 30and December 31 and are due December 31. 2016. Foster uses the effective interest method. Required:1. Prepare an interest expense and discount amortization schedule.2 Assume the company reacquired the bonds on July 1, 2015, at 104. Prepare journal entries to record the bondretirement.

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?