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Completed a work for a client and immidiately collected $20,000 cash. How do I record this

Cost of Goods Sold, Cost of Goods Manufactured

Timbuk 3 Company has the following information for March:

: The following cost data relate to Taylor Products Company for the year ended June 30, 2005.

Direct Materials                                                                       $ 55,600

Direct Labor                                                                                72,400

Factory Overhead                                                                       36,500

Work in process inventory, July 1, 2004                                      38,200

Work in process inventory, June 30, 2005                                   34,800

Required:

1. Calculate the manufacturing costs for the year.
2. Calculate the cost of goods manufactured for the year.

Consider the following three projects. All three have an initialinvestment of $1,000,000.

Data Table:

Net Cash Inflows

Project L

Project M

Project N

Year

Annual

Accumulated

Annual

Accumulated

Annual

Accumulated

1

$125,000

$125,000

$175,000

$175,000

$500,000

$500,000

2

125,000

250,000

275,000

450,000

500,000

1,000,000

3

125,000

375,000

550,000

1,000,000

4

125,000

500,000

650,000

1,650,000

5

125,000

625,000

750,000

2,400,000

6

125,000

750,000

7

125,000

875,000

8

125,000

1,000,000

Requirements

Requirement 1. Determine the payback period ofeach project. Rank the projects from most desirable to leastdesirable based on payback.​ (Enter the payback period asa​numeral.)