1Using the selected data below, calculate the net cash provided by operating activities:Net incomeIncrease in accounts receivableIncrease in accounts payableGain on the sale of equipmentDepreciation expensePurchase of new delivery truck$240,000$15,000$12,000$8,000$18,000$35,000$247,000$250,000$255,000$263,0002Using the selected data below, calculate the net cash provided or (used) by investing activities:Net incomeDepreciation expenseGain on the sale of equipmentCash proceeds on sale of equipmentPurchase of new delivery truck$180,000$16,000$10,000$12,000$35,000$157,000-$13,000-$23,000$3,0003A company had an accounts receivable balance of $425,000 at the beginning of the yearand $500,000 at the end of the year. The total credit sales during the year were $3,600,000.What was the average collection period in days (round to nearest number of days)?43 days47 days51 days53 days4A Corporation has 250,000 shares of $10 par common stock issued and outstanding.AA Corporation also has 50,000 shares of $100, 6% par cumulative preferred stock.In 2016, AA had net income of $3,500,000. The number of shares of both common and preferred stock has not changed during the year,and the preferred stock dividends were paid at the end of 2015. What are the common earnings per share (EPS) for 2016? Round to the nearest cent.$1.40$14.00$12.80$13.735At the beginning of the year, Bell Corporationâ€™s balance sheet showed total assets of $14,000,000, and at the end of the year,the total assets had grown to $16,000,000. Bell had net income of $2,000,000 based on sales of $30,000,000.What was the total asset turnover for Bell? Round to two decimal places.$0.50$1.87$2.14$2.006A manufacturing company allocates overhead at a fixed rate of $65 per hour based on direct labor hours.During the month, total overhead incurred was $280,000, and the total direct labor hours work was 4,000.Job number 5-23 had 500 hours of direct labor. What is the amount of overhead allocated to job 5-23?$3,000$3,250$3,500$3,7507Bargain Discounter Inc. is a merchandiser that had inventory at the beginning of the year of $840,000.It made purchases of $1,550,000 and had returns and allowances on purchases of $50,000.Ending inventory was $880,000. Total cost of goods sold was $1,460,000. What was the goods available for sale amount?$2,340,000$620,000$2,290,000$2,390,0008Ace Widget Company is a process manufacturer. The company budgeted 11,500 direct labor hours but had actual direct labor hours of 12,000.The company produced 60,000 equivalent units, spending $300,000 on material. Labor rate is $15 per hour, and overhead is applied at a rate of $25 per direWhat is the total manufacturing cost per unit? Round to the closest cent.$11.92$15$12.67$139The assembly department had beginning work in process of 18,000 units, ending work in process of 22,000 units,and units transferred out of 58,000 units. What was the number of units started or transferred in?58,00062,00066,00070,00010 Cabot Corp. is a job lot manufacturer. The budget for the month of May calls for 7,000 direct labor hours to be worked.Budgeted overhead is $84,000 with a predetermined rate of $12 per hour. Overhead is applied based on actual direct hours worked.Actual direct hours were 7,200 and actual overhead spending was $83,000. What was the under applied or over applied overhead for the month of May?Over applied is shown as a negative number.$3,400$2,400-$2,400-$3,400irect labor hour.
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