Grouper Company exchanged equipment used in its manufacturing operations plus $4,080 in cash for similar equipment used in the operations of Monty Company. The following information pertains to the exchange.

Grouper Co. Monty Co.
Equipment (cost) $38,080 $38,080
Accumulated depreciation 25,840 13,600
Fair value of equipment 17,000 21,080
Cash given up 4,080

Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance. (Cred

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Salty sensations snacks company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. the company has budgeted the following costs for the upcoming period: 1 factory depreciation $33,782.00 2 indirect labor 84,456.00 3 factory electricity 8,446.00 4 indirect materials 40,356.00 5 selling expenses 26,900.00 6 administrative expenses 17,200.00 7 total costs $211,140.00 factory overhead is allocated to the three products on the basis of processing hours. the products had the following production budget and processing hours per case: budgeted volume (cases) processing hours per case tortilla chips 3,600 0.25 potato chips 5,300 0.11 pretzels 2,300 0.49 total 11,200 required: a. determine the single plantwide factory overhead rate.* b. use the factory overhead rate in (a) to determine the amount of total and per-case factory overhead allocated to each of the three products under generally accepted accounting principles. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries.* * if required, round your answers to the nearest cen

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