During May, the following transactions were completed and reported by Sylvana Company: Materials purchased on account, $60,100. Materials issued to production to fill job-order requisitions: direct materials, $50,000; indirect materials, $8,700. Payroll for the month: direct labor, $75,000; indirect labor, $36,000; administrative, $28,000; sales, $19,000. Depreciation on factory plant and equipment, $10,500. Property taxes on the factory accrued during the month, $1,450. Insurance on the factory expired with a credit to the prepaid insurance account, $6,200. Factory utilities, $5,500. Advertising paid with cash, $7,900. Depreciation on office equipment, $800; on sales vehicles, $1,650. Legal fees incurred but not yet paid for preparation of lease agreements, $750. Overhead is charged to production at a rate of $18 per direct labor hour. Records show 4,000 direct labor hours were worked during the month. Cost of jobs completed during the month, $150,000.
The company also reported the following beginning balances in its inventory accounts:
Materials Inventory $7,500
Work-in-Process Inventory 37,000
Finished Goods Inventory 50,000
Required:
Prepare journal entries to record the transactions occurring in May. For a compound transaction, if an amount box does not require an entry, leave it blank.

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations. issued 2,900 shares of $0.01 par value common stock to investors for cash at $29 per share. borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years. paid $1,000 for the current month's rent of a warehouse and another $1,000 for next month's rent. paid $1,440 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). purchased furniture and fixtures for the warehouse for $16,000, paying $3,200 cash and the rest on account. the amount is due within 30 days. purchased for $2,800 cash the university of pennsylvania, notre dame, the university of texas at austin, and michigan state university baseball caps as inventory to sell online. placed advertisements on google for a total of $340 cash. sold caps totaling $1,900, half of which was charged on account. the cost of the caps sold was $1,100. (hint: make two entries.) made full payment for the furniture and fixtures purchased on account in (e). received $280 from a customer on account.

Lindon company is the exclusive distributor for an automotive product that sells for $30.00 per unit and has a cm ratio of 30%. the company’s fixed expenses are $162,000 per year. the company plans to sell 20,200 units this year. required: 1. what are the variable expenses per unit? (round your "per unit" answer to 2 decimal places.) 2. what is the break-even point in unit sales and in dollar sales? 3. what amount of unit sales and dollar sales is required to attain a target profit of $72,000 per year? 4. assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $3.00 per unit. what is the company’s new break-even point in unit sales and in dollar sales? what dollar sales is required to attain a target profit of $72,000?

Personal financial planning is the process of creating and achieving financial goals? true or false