28. The general ledger of the Taft Corporation as of December 31 includes the following accounts organization costs Deposits with advertising agency (will be used to s 20,000 32,000 60,000 280,000 promote goodwili) .. Discount on bonds payable Excess of cost over book value of net assets of Trademarks 48,000 In the preparation of Taft's balance shect as of December 31, what should be reported as total intangible assets? a. $368,000 b. $380,000 c. $328,000 d. $68,000 Which of the following describes the flow of product costs through the inventory accounts of a manufacturer 29. a. Raw materials, goods in process, finished goods b. Raw materials, direct labor, factory overhead, finished goods c. Raw materials, direct labor, factory overhead Raw materials, goods in process, factory overhead, finished goods Goods on consignment are a d. 30. recorded in a consignment in account which is an inventory account recorded in a consignment out account which is an inventory account. b. c. d. included in the consignee's inventory all of these. 31. When valuing raw materials inventory at lower of cost or market, what is the general mcaning of market a. Net realizable value b. Net realizable value less a normal profit margirn c. Current replacement cost d. Discounted present value 32. Polk Co. incurred research and development costs in 2017 as follows Equipment acquired for use in various research and development projects Depreciation on the above equipment Materials used Compensation costs of personnel outside consulting fees Indirect costs appropriately allocated $500,000 67,500 100,000 250,000 75,000 125,000 The total rescarch and development costs charged in Polk's 2017 income statement should be a. b. $617,500 c. $425,000. d. $925,000