The following information has been gathered for Catalyst Legal Services for its fiscal year ending December 31:Actual office overhead costs $ 1,315,500 Actual billable labor hours 45,000 Actual billable labor costs $ 4,000,000 Estimated office overhead costs $ 1,046,400 Estimated billable labor hours 48,400 Estimated billable labor costs $ 4,360,000 What is the predetermined office overhead rate per billable labor dollar?a. 125.72%.b. 24.00%.c. 32.89%.d. 416.67%.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.