Please show work for the both problem. Thank you!!
Question 23 15 pts At a cash cost of $22,000, Adams Inc. can acquire a machine that will increase annual net income by $1,200. Included among the expenses in the calculation of net income is depreciation on the machine. Adams expects the new machine to have a 5-year useful life and no salvage value, and her company uses straight-line depreciation. Assume that all revenue and expenses - other than depreciation - will be received or paid in cash in the same period as recognized for accounting purposes. Required: A. What are the cash flows for each year of the 5-year period? B. Calculate the Payback Period. C. Calculate the Net Present Value using a required rate of return of 12%. B E 1 I V A - A - Ix - DO NVX P 5 VD HTML Editore x', E 12pt Question 24 25 pts Ready Remodeling Co. uses a job order cost system. Prepare journal entries for the transactions below. The transactions relate to the manufacturing operations for the month of January. The company had Jobs #126 & 127 in- process. JOURNAL ENTRIES: a. Purchased $43,000 of direct raw materials for cash. b. Requisitioned $30,000 of direct raw materials -- $12,000 for Job#126 and $18,000 for Job 127. c. Used direct labor for both jobs. Job #126's direct labor was $8,000 and Job 127's was $7,000. The company paid the workers in cash. d. Factory overhead was applied to production based upon a predetermined overhead application rate. The rate developed was 180% of direct labor dollars. e. Depreciation on the factory equipment amounted to $4,000. f. Indirect factory labor costs were $12,000 - paid in cash. g. Rent on the factory facility was $16,000 - paid in cash. h. Job #126 was completed. i. Job #126 was sold for $36,000 on account. c. Used direct labor for both jobs. Job #126's direct labor was $8,000 and Job 127's was $7,000. The company paid the workers in cash. d. Factory overhead was applied to production based upon a predetermined overhead application rate. The rate developed was 180% of direct labor dollars. e. Depreciation on the factory equipment amounted to $4,000. f. Indirect factory labor costs were $12,000 - paid in cash. g. Rent on the factory facility was $16,000 - paid in cash. h. Job #126 was completed. i. Job #126 was sold for $36,000 on account. j. Adjust for any over or under-applied overhead, assuming the dollar amounts are immaterial. B X I - D y O A - A - Ix E Vw 5 V 3 D HTML Editore X 12pt G