Required information the following selected account balances are provided for delray mfg. sales $ 1,250,000 raw materials inventory, dec. 31, 2016 37,000 work in process inventory, dec. 31, 2016 53,900 finished goods inventory, dec. 31, 2016 62,750 raw materials purchases 175,600 direct labor 225,000 factory computer supplies used 17,840 indirect labor 47,000 repairs—factory equipment 5,250 rent cost of factory building 57,000 advertising expense 94,000 general and administrative expenses 129,300 raw materials inventory, dec. 31, 2017 42,700 work in process inventory, dec. 31, 2017 41,500 finished goods inventory, dec. 31, 2017 67,300 prepare its schedule of cost of goods manufactured for the year ended december 31, 2017.

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?