Dan knight and patricia chen, who are good friends, form crane corporation. dan transfers land (worth $200,000, basis of $60,000) for 50% of the stock in crane. patricia transfers machinery (worth $150,000, adjusted basis of $30,000) and provides services worth $50,000 for 50% of the stock. a. will the transfers qualify under § 351? because of patricia's stock is counted in determining control since the property she transferred than a nominal value in comparison to the value of the services rendered has b. what are the tax consequences to dan and patricia? dan recognizes on the transfer of the land. his basis in the crane stock is $ patricia recognizes of on the transfer. patricia has a basis of $ in her crane stock. c. what is crane corporation's basis in the land and the machinery? in the land and a basis of $ crane corporation has a basis of $ in the machinery. crane either has a deduction of $ as organizational costs. for the services provided by patricia, or it will capitalize the $ d. enter the results of this transaction to patricia on her form 1040 (p. 1)

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?