Selected hypothetical financial data of Target and Wal-Mart for 2022 are presented here (in millions). Target Wal-Mart Corporation Stores, Inc. Income Statement Data for Year Net sales $65,300 $417,000 Cost of goods sold 45,000 301,000 Selling and administrative expenses 14,000 79,000 Interest expense 660 1,800 Other income (expense) (85) (380) Income tax expense 1,500 7,100 Net income $ 4,055 $ 27,720 Balance Sheet Data (End of Year) Current assets $16,000 $50,000 Noncurrent assets 27,400 121,000 Total assets $43,400 $171,000 Current liabilities $11,000 $54,000 Long-term debt 17,800 43,000 Total stockholders’ equity 14,600 74,000 Total liabilities and stockholders’ equity $43,400 $171,000 Beginning-of-Year Balances Total assets $45,000 $162,000 Total stockholders’ equity 12,800 66,000 Current liabilities 10,800 54,000 Total liabilities 32,200 96,000 Other Data Average net accounts receivable $7,600 $3,800 Average inventory 7,100 33,200 Net cash provided by operating activities 5,600 27,400 Capital expenditures 1,600 12,100 Dividends 470 4,200

Lo.2, 3, 9 lori, who is single, purchased 5-years class property for $200,00 and 7-years class property for $420,000 on may 20, 2018. lori experts the taxable income derived form the business (without regard to the amount expensed under ⧠179) to be about $550,000. lori has determined that she should elect immediate ⧠179 expensing in the amount of $520,000, but she doesn’t know which asset she should completely expense under ⧠179. she does not claim any available additional first-year depreciation. a. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 5-year class asset. b. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 7-year class asset. c. what is your advice for lori? d. assume that lori is in the 24% marginal tax bracket and that she uses ⧠179 on the 7-year asset. determine the present value of the tax savings from the depreciation deductions for both assets. see appendix g for present value factors, and assume a 6% discount rate. e. assume the same facts as in part (d), except that lori decides not to use ⧠179 on either asset. determine the present value of the tax savings under this choice. in addition, determine which option lori should choose. f. present your solution to parts (d) and (e) of the problem in a spreadsheet using appropriate microsoft excel formulas. e-mail your spreadsheet to your instructor with a two-paragraph summary of your findings.

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration