The below information will be used for the next two questions. A Company issued a convertible bond payable on the interest payment date as follows. Bonds payable $700,000 Coupon rate 5.3% Issue price $725,000 Term 10 years Each $1,000 bond is convertible into 20 shares Number of potential shares if 100% converted 14,000 shares Bond conversion date December 31, 20X3 Bonds converted 30% What is the credit to additional paid in capital at the time of conversion on December 31, 20X3

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6