Marigold Lake Corporation’s accounting records show the following at year-end December 31, 2017: Purchase Discounts

$5,960
Beginning Inventory

$33,550
Freight-In

8,710
Ending Inventory

28,600
Freight-Out

10,940
Purchase Returns and Allowances

3,810
Purchases

163,210

Assuming that Marigold Lake Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold.

Cost of goods purchased

Cost of goods sold

What does the phrase limited liability mean in a corporate context?

Morgana company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $168,000, $315,900, an $97,200, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,100, machine hours 24,300, and number of inspections 1,800. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.