The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 1. Inventory that had cost $22,800 was sold for $38,760 under terms 2/20, net/30.
2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,288. The merchandise had cost Ozark $920.
3. All customers paid their accounts within the discount period.
4. Selling and administrative expenses amounted to $3,876.
5. Interest expense paid amounted to $330.
6. Land that had cost $7,300 was sold for $10,585 cash.
Required
a. Determine the amount of net sales. (Round your intermediate calculations and final answer to the nearest Whole dollar amount.) Net sales
b. Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Amounts to be deducted and losses should be indicated witha minus sign.)
c. Where would the interest expense be shown on the statement of cash flows?
Operating activities
Investing activities
Financing activities
d. How would the sale of the land be shown on the statement of cash flows?
The full sales price of the land, $10,585, would be shown as a cash inflow from financing activities on the statement of cash flows.
The full sales price of the land, $10,585, would be shown as a cash inflow from investing activities on the statement of cash flows.
The full sales price of the land, $10,585, would be shown as a cash inflow from operating activities on the statement of cash flows Dreur

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.