Sharon Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $11,800 cash in the business in exchange for common stock. 2. Purchased equipment for $5,900 cash. 3. Paid $472 cash for May office rent. 4. Paid $354 cash for supplies. 5. Incurred $295 of advertising costs in the Beacon News on account. 6. Performed repair services for customer for $5,546 cash. 7. Paid a $826 cash dividend. 8. Paid part-time employee salaries $1,180. 9. Paid utility bills $169. 10. Performed repair services worth $1,298 on account. 11. Collected cash of $134 for services billed in transaction (10). (a) Partially correct answer iconYour answer is partially correct. Prepare a tabular analysis of the transactions. Include margin explanations for any changes in revenues or expenses. Revenue is called Service Revenue. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.