Selected balance sheet information for the Wolf Company at November 30, and December 31, 2021, is presented below. The company uses the perpetual inventory system and all sales to customers are made on credit. Nov. 30 Dec. 31
Debits Credits Debits Credits
Accounts receivable 10,400 3,400
Prepaid insurance 5,400 7,900
Inventory 7,400 6,400
Accounts payable 12,400 15,400
Salaries payable 5,400 3,400

The following cash flow information also is available: Cash collected from credit customers, $84,000. Cash paid for insurance, $5,400. Cash paid to suppliers of inventory, $64,000 (the entire accounts payable amounts relate to inventory purchases). Cash paid to employees for salaries, $10,400.

Required:
Determine the following for the month of December:
a. Prepare summary journal entries to record the month’s sales and cost of those sales.
b. Determine the following for the month of December:

a. Sales revenue
b. Cost of goods sold
c. Insurance expense
d. Salaries and wages expense

Jorge is a manager at starbucks. his operational plan includes achieving annual sales of $4,000,000 for his store. with only one month left to end of the fiscal year, jorge realizes that he won't reach his annual sales goal. what are his options?

White company has two departments, cutting and finishing. the company uses a job-order costing system and computes a predetermined overhead rate in each department. the cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labor-hours. at the beginning of the year, the company made the following estimates: department cutting finishing direct labor-hours 6,000 30,000 machine-hours 48,000 5,000 total fixed manufacturing overhead cost $ 264,000 $ 366,000 variable manufacturing overhead per machine-hour $ 2.00 " variable manufacturing overhead per direct labor-hour " $ 4.00 required: 1. compute the predetermined overhead rate for each department. 2. the job cost sheet for job 203, which was started and completed during the year, showed the following: department cutting finishing direct labor-hours 6 20 machine-hours 80 4 direct materials $ 500 $ 310 direct labor cost $ 108 $ 360 using the predetermined overhead rates that you computed in requirement (1), compute the total manufacturing cost assigned to job 203. 3. would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

Your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price would be set at 1.5 times the variable cost per unit; the variable cost per unit is estimated to be $75.00; and fixed costs are estimated at $1,200,000. what sales volume would be required to break even, i. e., to have ebit = zero?