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E1-17 Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5,000 head lamps at a cost of $9 per lamp. Runcke withdrew 4,650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in autos used by traveling sales staff. The remaining 4,600 lamps were put in autos manufactured during the month. Of the autos put into production during September 2011, 90% were completed and transferred to the company’s storage lot. Of the cars completed during the month, 75% were sold by September 30.Instructions(a) Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses.(b) Write a short memo to the chief accountant, indicating whether and where each of the accounts in (a) would appear on the income statement or on the balance sheet at September 30, 2011.

 Protecting intellectual property 1.  Protecting intellectual property in a competitive global business environment can bedifficult. It can also be expensive. Seeking patent protection in the UnitedStates alone can cost businesses thousands of dollars, and that price only goesup when seeking international protection. What factors do you think businessleaders consider when deciding to pursue intellectual property protection? Putyourself in the shoes of an international business executive. What things wouldyou want to know before making such a sizable investment?  One or two references– 2 paragraphs2.  You are an officer in an American corporation that has asignificant portion of its assets in IPRs. You wish to expand in yourregion.   One or two references.Write a brief memo to your boss (1–2 pages double-spaced) that outlines therisks and rewards of licensing your choice of an IPR in that region. Thatchoice could be a trade or service mark, a patent, a copyright, or acombination of them. State what the IPR is. Try to identify the best nation ornations in which to enter the market. Decide if you would use your own employeesor independent agents and why.