he following selected account balances appeared on the financial statements of Sanchez Company: Accounts Receivable, January 1 $13,000 Accounts Receivable, December 31 9,000 Accounts Payable, January 1 4,000 Accounts Payable, December 31 7,000 Inventory, January 1 10,000 Inventory, December 31 15,000 Sales 62,000 Cost of Goods Sold 31,000 Sanchez Company uses the direct method to calculate net cash flow from operating activities. Cash received from customers is

Southeastern bell stocks a certain switch connector at its central warehouse for supplying field service offices. the yearly demand for these connectors is 15,000 units. southeastern estimates its annual holding cost for this item to be $25 per unit. the cost to place and process an order from the supplier is $75. the company operates 300 days per year, and the lead time to receive an order from the supplier is 2 working days. a) find the economic order quantity. b) find the annual holding costs. c) find the annual ordering costs. d) what is the reorder point?

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to