The following transactions occurred during march 2021 for the wainwright corporation. the company owns and operates a wholesale warehouse. issued 48,000 shares of non-par common stock in exchange for $480,000 in cash. purchased equipment at a cost of $76,000. $19,000 cash was paid and a notes payable to the seller was signed for the balance owed. purchased inventory on account at a cost of $146,000. the company uses the perpetual inventory system. credit sales for the month totaled $210,000. the cost of the goods sold was $126,000.paid $6,500 in rent on the warehouse building for the month of march. paid $7,150 to an insurance company for fire and liability insurance for a one-year period beginning april 1, 2021.paid $126,000 on account for the merchandise purchased in 3.collected $94,500 from customers on account. recorded depreciation expense of $1,900 for the month on the equipment.

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Mai and chuck have been divorced since 2012. they have three boys, ages 6, 8, and 10. all of the boys live with mai and she receives child support from chuck. mai and chuck both work and the boys need child care before and after school. te boys attend the fun house day care center and mai paid them $2,000 and chuck paid them $3,000. mai's agi is $18,000 and chuck's is $29,000. mai will claim two of the boys as dependents. she signed form 8332 which allows chuck to claim one of the boys. who can take the child and dependent care credit?

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