Activities which are profit-motivated, but do not require a relatively high level of involvement from the taxpayer are referred to as investmentactivities. which of the following statements is not accurate regarding the deduction for qualified education loan interest? the full amount of interest paid on qualified educational loans is deductible.
a) andrew volunteered for the american red cross
b) $1,500 charged to the credit card during the year
c) mileage for the 200 miles he drove to the ravaged area
d) the cost of lodging while he is volunteering

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)