March 1: Owner borrowed $125,000 to fund/start the business. The loan term is 5 years.

March 1: Owner paid $250 to the county for a business license.

March 2: Owner signed lease on office space; paying first (March 20XX) and last months rent of $950 per month.

March 5: Owner contributed office furniture valued at $2,750 and cash in the amount of $15,000 to the business.

March 6: Owner performed service for client in the amount of $650. Customer paid in cash.

March 8: Owner purchased advertising services on account in the amount of $500.

March 10: Owner provided services to client on account, in the amount of $1,725.

March 15: Owner paid business insurance in the amount of $750.

March 20: The owner received first utility bill in the amount of $135, due in April.

March 20: Office copier required maintenance; owner paid $95.00 for copier servicing.

March 22: Owner withdrew $500 cash for personal use.

March 25: Owner paid $215 for office supplies.

March 25: Owner provided service to client in the amount of $350. Client paid at time of service.

March 30: Owner paid balance due for advertising expense purchase on March 8.

March 30: Received payment from customer for March 10 invoice in the amount of $1,725.

March 31: Last day of pay period; owner owes part-time worker $275 for the March 16 through March 31 pay period. This will be paid on April 5.

March 31: Provided service for client on account in the amount of $3,500.

March 31: Record depreciation of the office furniture at $45.83.

Milestone One - Variable and Fixed Costs Total Variable Costs per Collar (i) PROTECTED VIEW Be careful-files from the Intemet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Milestone Two - Contribution Margin Analysis PROTECTED VIEW Be careful-files from the Intemet can contain virusps, Uniess you need to edit, it's safer to stay in Protected View Enable Editing Milestone Two - Break-Even Analysis Milestone Three - Statement of Cost of Goods Sold PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View. Milestone Three - Statement of Cost of Goods Sold (i) PROTECTED VIEW Be careful-files from the internet can contain viruses. Unless you need to edit, it's safer to stay in f A16 Search Milestone Three - Variance Analysis Variances for Collar Sales Direct Labor Time Variance (Actual Hours - Standard Hours) x Standard Rate Direct Labor Rate Variance (Actual Rate - Standard Rate) Actual Hours Direct Materials Quantity/Efficiency Variance (Actual Quantity Standard Quantity) Standard Price Direct Materials Price Variance (Actual Price Standard Price) x Actual Quantity Milestone One - Variable and Fixed Costs Total Variable Costs per Collar (i) PROTECTED VIEW Be careful-files from the Intemet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Milestone Two - Contribution Margin Analysis PROTECTED VIEW Be careful-files from the Intemet can contain virusps, Uniess you need to edit, it's safer to stay in Protected View Enable Editing Milestone Two - Break-Even Analysis Milestone Three - Statement of Cost of Goods Sold PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View. Milestone Three - Statement of Cost of Goods Sold (i) PROTECTED VIEW Be careful-files from the internet can contain viruses. Unless you need to edit, it's safer to stay in f A16 Search Milestone Three - Variance Analysis Variances for Collar Sales Direct Labor Time Variance (Actual Hours - Standard Hours) x Standard Rate Direct Labor Rate Variance (Actual Rate - Standard Rate) Actual Hours Direct Materials Quantity/Efficiency Variance (Actual Quantity Standard Quantity) Standard Price Direct Materials Price Variance (Actual Price Standard Price) x Actual Quantity