Sydney retailing (buyer) and troy wholesalers (seller) enter into the following transactions. may 11 sydney accepts delivery of $40,000 of merchandise it purchases for resale from troy: invoice dated may 11: terms 3/10, n/90; fob shipping point. the goods cost troy $30,000. sydney pays $345 cash to express shipping for delivery charges on the merchandise.12 sydney returns $1,400 of the $40,000 of goods to troy, who receives then the same day and restores them to its inventory. the returned goods had cost troy $1,050.20 sydney pays troy for the amount owed. troy receives the cash immediately.1. prepare journal entries that sydney retailing (buyer) records for these three transactions.2. prepare journal entries that troy wholesalers (seller) records for these three transactions.

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.