Kendall corporation designs and manufactures sports cars. during the course of its business, kendall generates substantialreceivables from its customers. on july 1, 2017. to improve its cash flow, kendall establishes a securitization entity (se) and(1) transfers without recourse $20.5 million of its receivables to the se and (2) surrenders control over these receivables. the se then sells securities backed by the cash flows associated with kendall’s receivables. because the se is separatefrom kendall. and the receivables are diversified across hundreds of customers, investors are willing to pay $24 million forthe securities. the se then transfers the 524 million to kendall corporation. required: 1. prepare kendall’s entry to record the securitization as a sale.2 show how your answer to requirement 1 would change if control over the receivables is not surrendered at the time ofthe transfer (i. e.. an agreement exists whereby kendall would be forced to absorb significant losses associated with these’s receivables).

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?