Berry Corporation reported
Berry Corporation reported the following cash transactions for last year. Issued common stock at $67 per share $180,900 Paid dividends to stockholders at year end 65,550 Received dividends from investments in other companies 35,140 Purchased bonds issued by City of Metropolis 49,370 Borrowed money from City Bank 26,970 Made payment to City Bank on loan 4,240 Purchased office equipment 12,300 Received interest payment on City of Metropolis bonds 1,870 (a) Prepare the investing section of Berry’s statement of cash flows. (Enter amounts that decrease cash using either a negative sign preceding the number e.g. -4,527 or parentheses e.g. (4,527).) Berry Corporation Statement of Cash Flows (Partial) Bank loan Dividend payment Dividend received Interest received Issuance of common stock Net cash provided by investing activities Net cash used by investing activities Purchase of bonds Purchase of equipment Repayment on bank loan $ Bank loan Dividend payment Dividend received Interest received Issuance of common stock Net cash provided by investing activities Net cash used by investing activities Purchase of bonds Purchase of equipment Repayment on bank loan Bank loan Dividend payment Dividend received Interest received Issuance of common stock Net cash provided by investing activities Net cash used by investing activities Purchase of bonds Purchase of equipment Repayment on bank loan $ Exercise 2 Megan Industries manufactures several products including a basic case for a popular smart phone. The company is considering adopting an activity-based costing approach for setting its budget. The company’s production activities, budgeted activity costs, and cost drivers for the coming year are as follows. Activity Activity overhead $ Cost driver Cost driver quantity Machine setup $206,190 # of setups 870 Inspection 201,400 # of quality tests 530 Materials receiving 199,820 # of purchase orders 1,940 The budgeted data for smart phone case production are as follows. Direct materials $2.50 per unit Direct labor $0.58 per unit Number of setups 94 Number of quality tests 380 Number of purchase orders 63 Production 21,670 units (a) Calculate the activity rate for each cost pool. Machine setup $ per setup Inspection $ per test Materials receiving $ per PO
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