Genuine spice inc. began operations on january 1 of the current year. the company produces eight- ounce bottles of hand and body lotion called eternal beauty. the lotion is sold wholesale in 12-bottle cases for $100 per case. there is a selling commission of $20 per case. the january direct materials, direct labor, and factory overhead costs are as follows:

If the findings and the results are not presented properly, the research completed was a waste of time and money. true false

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of

Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.