Frontier Inc

question 106

Essay

Frontier Inc. has provided the following information for 20x5:
a. Purchased raw materials on account for $240,000.
b. Issued $230,000 in raw materials to production ($32,000 were not traceable to specific jobs).
c. Incurred $242,000 in direct labor costs (24,120 hours) and $92,500 in supervision costs (paid in cash).
d. Incurred the following additional manufacturing overhead costs: factory utilities $24,000 (paid in cash); depreciation on equipment $45,000; indirect supplies $17,500 (paid in cash).
e. Incurred the following nonmanufacturing costs, both paid in cash: advertising $75,000; sales salaries $88,000.
f. Applied manufacturing overhead to jobs in process at a rate of $9 per direct labor hour.
g. Completed jobs costing a total of $644,000.
h. Sold jobs for $856,000 on account. The cost of the jobs was $642,000.
i. Closed the manufacturing overhead account balance.
Prepare the journal entries to record these transactions.

Apply time value of money principles to real-world financial decisions.

Understand the basic principles of loan calculation and repayment strategies.

Calculate the economic value of different payment plans.

Determine the final payment required to settle a loan in different scenarios.

---

Definitions:

Infant's Heart Rate

The number of heartbeats per minute in a newborn or infant, typically ranging from 120 to 160 beats per minute.

Adult Height

The final height an individual achieves after completing their natural growth phase, typically reached by late adolescence.

Oral Temperature

The body's temperature measured by a thermometer placed in the mouth, reflecting core temperature.

Blood Pressure

The pressure exerted by circulating blood upon the walls of blood vessels, an important indicator of cardiovascular health.