The Boxwood Company sells blankets for $37 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Blankets Units Cost Date May 3 Purchase 36 $15 10 Sale 14 17 Purchase 40 $17 20 Sale 25 23 Sale 30 Purchase 23 $18 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. Oa. $100 Ob. $330 Oc. 385 Od 5381 Equipment with a cost of $160,191 has an estimated residual value of $7,537 and an estimated Me of 4 years or 12,748 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,260 hours? Oa. 54.00 Ob. $38.163.50 Oc. $39,037.66 Od. 54681 Martin Jackson receives an hourly wage rate of $18, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $351; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Jackson? Oa. $514.00 Ob. 1936.00 Oc 11.22580 Od. $1,306.00 uilding with an appraisal value of $132,267 is made available at an offer price of $150,899. The purchaser acquires the property for $30,468 in cash, a 90-day note payable for 1,925, and a mortgage amounting to $53,660. The cost basis recorded in the buyer's accounting records to recognize this purchase is $132,267 $120,431 c. $109,053 d. $150,899