Given the following data for Coronado Industries, compute cost of goods manufactured: Direct materials used $200000 Beginning work in process $20000 Direct labor 220000 Ending work in process 10000 Manufacturing overhead 200000 Beginning finished goods 25000 Operating expenses 195000 Ending finished goods 15000

a. $620000
b. $640000
c. $610000
d. $630000

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?