This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Computer, Inc., for use in Apple's existing product lines. The agreement provides for a royalty payment from Apple to Creative based on Apple's sales of products using the licensed technology. As of December 31, 45,000 is due under the agreement for actual sales made by Apple to date. (3) Creative pays many employee's on an hourly basis. As of December 31, there are 5,320 unpaid labor hours already worked, at an average hourly rate of 17. (4) The company estimates that utilities used during December, for which bills will be received in January, amount to 20,000....
View Full Document
- Spring '11