The management of Pharoah Company asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2022, the accounting records show these data. Inventory, January 1 (9,910 units) $ 34,685 Cost of 126,820 units purchased 495,272 Sales revenue on 95,220 units 800,900 Operating expenses 114,858 Units purchased consisted of 36,560 units at $3.70 on May 10, 63,640 units at $3.90 on August 15, and 26,620 units at $4.20 on November 20. Income taxes are 30%. Prepare comparative condensed income statements for 2017 under FIFO and LIFO. (Round answers to 0 decimal places)
Condensed Income Statements For the Year Ended December 31, 2017 Y LIFO 723200 $ 723200 Sales Cost of Goods Sold Beginning Inventory 38418 38418 Cost of Goods Purchased 526754 526754 Cost of Goods Available for Sale Less ?. Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses 117920 117920 Income before Income Taxes Y Net Income/(Loss)

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Each of the following scenarios is based on facts in anactual fraud. categorize each scenario as primarily indicating (1) anincentive to commit fraud, (2) an opportunity to commit fraud, or(3) a rationalization for committing fraud. also state your reasoningfor each scenario.a. there was intense pressure to keep the corporation ' stock from declining further. this pressure came from investors, analysts,and the ceo, whose financial well-being was significantly dependent on the corporation ' s stock price.b. a group of top-level management was compensated (mostly in the form of stock-options) well in excess of what would be considered normal for their positions in this industry.c. top management of the company closely guards internal financial information, to the extent that even some employees on a “need-to-know basis” are denied full access.d. managing specific financial ratios is very important to the company, and both management and analysts are keenly observant of variability in key ratios. key ratios for the company changed very little even though the ratios for the overall industry were quite volatile during the time period.e. in an effort to reduce certain accrued expenses to meet budget targets, the cfo directs the general accounting department to reallocate a division’s expenses by a significant amount. the general accounting department refuses to acquiesce to the request, but the journal entry is made trough the corporate office. an accountant in the general accounting department is uncomfortable with the journal entries required to reallocate divisional expenses. he brings his concerns to the cfo, who assures him that everything will be fine and that the entries are necessary. the accountant considers resigning, but he does not have another job lined up and is worried about supporting his family. therefore, he never voices his concerns to either the internal or external auditors.f. accounting records were either nonexistent or in a state of such disorganization that significant effort was required to locate or compile them.

Actual usage for the year by the marketing department was 70,000 copies and by the operations department was 330,000 copies. if a dual-rate cost-allocation method is used, what amount of copying facility costs will be budgeted for the operations department?