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Question- Sunnyvale Computer Company sells a line of computers that carry a six-month warranty. Customers are offered the opportunity to buy a two-year extended warranty for an additional charge. During 2013, Sunnyvale received $320,000 from customers for these extended warranties. All sales are on credit, and funds are received evenly throughout the year and the warranties go into effect immediately after purchase.
Required: Prepare a summary journal entry to record sales of the extended warranties. Also prepare any other entries associated with the warranties that should be recorded during 2013.
Determine Hassell's and Lawson's participation in the year's net income of $378,000 under each of the independent assumptions above.
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Direct labor hours used on each product are 50,000for A1, 40,000 for B2, and 110,000 for C3. How much ordering andreceiving overhead is assigned to each product?
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