comm-midterm-ppt-Kathleen.pptx - CASE 5 Hawk Manufacturing Yim Ting(Kathleen Mok FACTS • Hawk Manufacturing produces and sells heavy plastic bed

comm-midterm-ppt-Kathleen.pptx - CASE 5 Hawk Manufacturing...

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CASE 5 Yim Ting (Kathleen) Mok Hawk Manufacturing
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FACTS Hawk Manufacturing produces and sells heavy plastic bed liners for pickup trucks. Indirect costs such as purchasing and storage are incurred. Indirect costs are not deemed to be inventory costs under U.S. GAAP
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ISSUE How does Hawk Manufacturing handle the indirect costs in its
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Unformatted text preview: federal tax return? Uniform Capitalization Rules § 263A inventory costs direct costs indirect cost Federal Regulations §1.263A-2 Simplified production method Required to be capitalized Example Robinson Knife Manufacturing Company I.R.C. § 481(a)(1). Changes in method of accounting CONCLUSION...
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