Ramon Company incurred the following costs during 2015 in connection with its research and development activities.

	Cost of equipment acquired that will have alternative uses in future R & D
	projects over the next 5 years (uses straight-line depreciation).	$396,540
	Materials consumed in R & D projects	55,234
	Consulting fees paid to outsiders for R & D projects	104,100
	Personnel costs of persons involved in R & D projects	122,300
	Indirect costs reasonable allocable to R & D projects	52,341
	Materials purchased for future R & D projects	30,257

Need answer as follow:

Compute the amount to be reported as research and development expense by the company on its income statement for 2015. Assume equipment is purchased at beginning of year.

$290,983

$360,942

$413,283

$730,515

Miller, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 25%. The following account balances are available: Inventory, March 1 $220,000 Purchases $172,000 Purchase returns $8,000 Sales during March $300,000 The estimate of the cost of inventory at March 31 would be

Need answer as follow:

$84,000.

$144,000.

$159,000.

$112,000.