Sheridan Corporation incurred the following transactions. 1.Purchased raw materials on account $46,600.
2.Raw Materials of $40,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,000 was classified as indirect materials.
3.Factory labor costs incurred on account were $83,700.
4. Time tickets indicated that $55,700 was direct labor and $4,600 was indirect labor.
5. Manufacturing overhead costs incurred on account were $83,700.
6. Depreciation on the company’s office building was $8,900.
7. Manufacturing overhead was applied at the rate of 160% of direct labor cost.
8. Goods costing $93,500 were completed and transferred to finished goods.
9. Finished goods costing $85,100 to manufacture were sold on account for $104,500.
Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale)

ernst's electrical has a bond issue outstanding with ten years to maturity. these bonds have a $1,000 face value, a 5 percent coupon, and pay interest semiminusannually. the bonds are currently quoted at 96 percent of face value. what is ernst's pretax cost of debt?

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?

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