Selected information from the separate and consolidated balance sheets and income statements of Palo Alto, Inc. and its wholly owned subsidiary, Stanford Co., as of December 31, 2020, and for the year then ended is as follows: Palo Alto Stanford Consolidated
Balance sheet accounts: â â â
Accounts receivable $26,000 $19,000 $42,000
Inventory 30,000 25,000 50,000
Investment in Stanford 67,000 -- --
Stockholders' equity 154,000 50,000 154,000
â â â â
Income statement accounts: â â â
Revenues $200,000 $140,000 $300,000
Cost of goods sold 150,000 110,000 225,000
Gross profit 50,000 30,000 75,000
â â â â
Equity in earnings of Stanford $9,000 -- --
Net income $36,000 $20,000 $36,000
â
Additional information:
During 2020, Palo Alto sold goods to Stanford at the same markup on cost that Palo Alto uses for all sales. At December 31, 2020, Stanford had not paid for all of these goods and still held 50% of them in inventory.

Palo Alto acquired its interest in Stanford five years earlier (Jan. 1, 2016).

For each of the following items, calculate the required amount.

a. The amount of intercompany sales from Palo Alto to Stanford during 2020.
b. The amount of Stanford's payable to Palo Alto for intercompany sales as of December 31, 2020.
c. In Palo Alto's December 31, 2020, consolidated balance sheet, the carrying amount of the inventory that Stanford purchased from Palo Alto.

Money aggregates identify whether each of the following examples belongs in m1 or m2. if an example belongs in both, be sure to check both boxes. example m1 m2 gilberto has a roll of quarters that he just withdrew from the bank to do laundry. lorenzo has $25,000 in a money market account. neha has $8,000 in a two-year certificate of deposit (cd).

In mexico, many garment or sewing shops found they could entice many young people to work for them if they offered clean, air conditioned work areas with high-quality locker rooms to clean up in after the work day. typically, traditional garment shops had to offer to get workers to apply for the hard, repetitive, and somewhat dangerous work. a. benchmark competitive wages b. compensating differentials c. monopoly wages d. wages based on human capital development of each employee

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.