The next three questions are based on the following information: copland supplies company is a retail store that purchases merchandizes from several makers of office equipment. actual balance sheet is presented below: balance sheet as of september 30, 2018 cash $25,000 accounts receivable (net of allowance for uncollectible accounts) $70,000 $79,625 $1,225,375 inventory property plant equipment (net of $640,000 accumulated depreciation) total assets accounts payable common stock retained earnings total liabilities and stockholders' equity $1,400,000 $170,000 $1,050,000 $180,000 $1,400,000 | to prepare budgets, the budget officer gathered addition budget data: sales are budgeted at $350,000, $260,000, and $230,000, all on credit, for october, november, and december, respectively.

• the company will declare $15,000 dividend in october, which will be paid in november.
• collections are expected to be 55% in the month of sale, 40% in the month following the sale, and 5% uncollectible. copland supplies recognizes bad debt expenses in the month sales are made.
• the cost of goods sold is 65% of sales.
• the ending merchandise inventory should be 35% of the following month sales needs.
• payment for merchandise purchases is expected to be 60% in the month of purchase with the remaining paid in the following month.
• monthly selling and administrative expenses to be paid in cash are $32,000.
• monthly depreciation is $20,000.

in addition to the information given above, assume copland supplies requires $30,000 minimum cash balance. cash can be borrowed at any exact amount at the beginning of each month from company's credit line at a local bank. interest, 2% monthly, are paid at the end of each month. determine total amount of cash copland supplies needs to borrow from the bank for the month october:

a. $68,715
b. $38,715
c. $30,000
d $70,118
e. none of the above

Kevin comes across people from various cultures in his job.kevin should deal with people from other cultures with blank . he should communicate by actively

Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.