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Chapter 17, Problem 2CT
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Case summary: Company VVE constructed PLGC and estates in country T in two phases, 1 and 2. Another company VVP had cut the roadways and constructed water, sewer, and stormwater lines with the help of water inlets for development purposes. Person F, the president and owner of VVP and a sole general partner of company VVP, failed to get the proper permits for the development work in a timely manner. Person F also failed to comply with the requirement of the permits, once the permit was obtained. Person MD who was the attorney general of the state filed a case against company VVE and person F for presumably violating the law of water pollution control in the state. The court entered the judgment in favor of F.

To find: The apportionment of penalties amongst the three defendants.

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Caldwell Corp.'s accounting records reflect the following inventories: Dec. 31, 2018 • • • Raw materials inventory - $90,000 Work in process inventory - $120,000 Finished goods inventory - $110,000 Dec. 31, 2019 • • Raw materials inventory - $70,000 Work in process inventory - $130,000 ⚫ Finished goods inventory - $100,000 During 2019, Caldwell purchased $1,600,000 of raw materials, incurred direct labor costs of $300,000, and incurred manufacturing overhead totaling $180,000. How much raw materials were transferred to production during 2019 for Caldwell? A) $1,620,000 B) $1,630,000 C) $1,600,000 D) $1,580,000
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