During Year 2, Rooney Manufacturing Company Incurred $8,000,000 of research and development (R\&D) costs to create a long-life battery to use In computers. In accordance with FASB standards, the entire R\&D cost was recognized as an expense in Year 2. Manufacturing costs (direct materlals, direct labor, and overhead) are expected to be $45 per unit. Packaging, shipping, and sales commissions are expected to be $8 per unit. Rooney expects to sell 2,000,000 batterles before new research renders the battery design technologically obsolete. During Year 2, Rooney made 440,000 batterles and sold 400,000 of them. Requlred a. Identify the upstream and downstream costs. b. Determine the Year 2 amount of cost of goods sold and the ending Inventory balance that would appear on the financlal statements that are prepared in accordance with GAAP. c. Determine the sales price assuming that Rooney desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batterles. d. Prepare a GAAP-based Income statement for Year 2 . Use the sales price developed In Requirement c. Complete this question by entering your answers in the tabs below. Identify the upstream and downstream costs. Complete this question by entering your answers in the tabs below. Prepare a GAAP-based income statement for Year 2. Use the sales price developed in Requirement c. (Do not round intermediate calculations.) etermine the Year 2 amount of cost of goods sold and the ending inventory balance that would appear on the financial tatements that are prepared in accordance with GAAP. Complete this question by entering your answers in the tabs below. Determine the sales price assuming that Rooney desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Mustafa Manufacturing Company began operations on January 1. During the year, It started and completed 3,000 unlts of product. The financlal statements are prepared In accordance with GAAP. The company incurred the following costs: 1. Raw materlals purchased and used- $6,200. 2. Wages of production workers $7,400. 3. Salarles of administratlve and sales personnel- $3,000. 4. Depreclation on manufacturing equipment $4,400. 5. Depreclation on administratlve equipment $2,200. Mustafa sold 2,400 units of product. Required a. Determine the total product cost for the year. b. Determine the total cost of the ending Inventory. c. Determine the total of cost of goods sold