Yehle inc. regularly uses material y51b and currently has in stock 471 liters of the material for which it paid $2,633 several weeks ago. if this were to be sold as is on the open market as surplus material, it would fetch $5.37 per liter. new stocks of the material can be purchased on the open market for $5.97 per liter, but it must be purchased in lots of 1,000 liters. you have been asked to determine the relevant cost of 500 liters of the material to be used in a job for a customer. the relevant cost of the 500 liters of material y51b is

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.