On october 10, the stockholders’ equity of sherman systems appears as follows: common stock–$10 par value, 72,000 shares authorized, issued, and outstanding $ 720,000 paid-in capital in excess of par value, common stock 216,000 retained earnings 864,000 total stockholders’ equity $ 1,800,000 1. prepare journal entries to record the following transactions for sherman systems. purchased 5,000 shares of its own common stock at $25 per share on october 11. sold 1,000 treasury shares on november 1 for $31 cash per share. sold all remaining treasury shares on november 25 for $20 cash per share.

Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?