During 2017, rooney manufacturing company incurred $8,000,000 of research and development (r& d) costs to create a long-life battery to use in computers. in accordance with fasb standards, the entire r& d cost was recognized as an expense in 2017. manufacturing costs (direct materials, direct labor, and overhead) are expected to be $45 per unit. packaging, shipping, and sales commissions are expected to be $8 per unit. rooney expects to sell 2,000,000 batteries before new research renders the battery design technologically obsolete. during 2017, rooney made 440,000 batteries and sold 400,000 of them. required identify the upstream and downstream costs. determine the 2017 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with gaap. determine the sales price assuming that rooney desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. prepare a gaap-based income statement for 2017. use the sales price developed in requirement c.

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u. s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

Any point on a country's production possibilities frontier represents a combination of two goods that an economy:

Which plan offers a tax-free education?