Jerrico Wallboard Co- had a beginning inventory of 9-850 shoes on Janu.docx

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Jerrico Wallboard Co. had a beginning inventory of 9,850 shoes on January 1, 20XX. The costs associated with the inventory were as follows: Material $ 12.00 per shoe Labour 7.00 per shoe Overhead 5.10 per shoe During 20XX, the firm produced 44,200 units with the following costs: Material $ 17.50 per shoe Labour 8.80 per shoe Overhead 10.30 per shoe Sales for the year were 47,590 units at $42.60 each. Jerrico uses average cost accounting. a. What was the gross profit? (Do not round intermediate calculations. Round your answer to nearest whole dollar.) Gross profit $ 393 b. What was the value of ending inventory? (Do not round intermediate calculations. Round your answer to nearest whole dollar.) Ending inventory $ .

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Jane, who is married to Stuart, and Betty, a divorced single parent, had been best friends for more than 10 years. They did many things together socially and their young children were friends. Stuart was an avid sailor who crewed for others in races whenever he could. Jane had no experience sailing and didn't have the opportunity to learn since they didn't own a boat. One summer Betty dated a sailor. While the relationship was brief, Betty fell in love with sailing. She also wanted something she and her children could do together as a family as they got older. Stuart had a friend that wanted to sell his boat and Betty and Stuart started talking about a partnership. Ultimately, they agreed that Betty would buy the boat for $2 , 000 and Stuart would teach Betty how to sail. They would split the expenses (maintenance, slip fees, etc.) and after the first sailing season, they would be 50 50 partners. There was no written agreement; after all, they were good friends. Stuart had hoped that through Betty, Jane would become interested in sailing, but that didn't happen. One year later, it was sailing season again and the $1 , 000 slip fee was due. One night Jane went to Betty's house, handed her their boat file, and said "It's all yours." Jane said it was because they were short on money. Betty was shocked and miffed that there was no warning and no discussion. It was just dumped on her at the last minute when the bills were due. Betty knew they were giving $5 , 000 to Stuart's eldest daughter for her wedding and believed that Jane was using their finances as an excuse to walk away from the boat. The friendship was strained and they ceased getting together socially. Several months later, Betty and Stuart ran into each other and Stuart said Betty owed him money for his half of the boat. Questions 1. Was Jane's behavior appropriate? Why or why not? 2. Should Betty pay Stuart? If so, how much? 3. What could have been done differently to avoid a rift in the relationship? .

Jane- who is married to Stuart- and Betty- a divorced single parent- h.docx

Jerrico Wallboard Co- had a beginning inventory of 9-850 shoes on Janu.docx

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Jerrico Wallboard Co- had a beginning inventory of 9-850 shoes on Janu.docx