Pardo Company produces a single product and has capacity to produce 145,000 units per month. Costs to produce its current monthly sales of 116,000 units follow. The normal selling price of the product is $144 per unit. A new customer offers to purchase 29,000 units for $66.60 per unit. If the special offer is accepted, there will be no additional fixed overhead and no additional fixed general and administrative costs. The special offer would not affect its normal sales. Direct materials Direct labor Costs at 116,000 Per Unit $ 12.50 15.00 14.00 17.50 15.00 Units $1,450,000 1,740,000 1,624,000 2,030,000 1,740,000 $ 74.00 $ 8,584,000 Variable overhead Fixed overhead Fixed general and administrative Totals (a) Compute the income from the special offer. (b) Should the company accept the special offer?

Jerry Isaacs could amort

What is an unasserted claim?

Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,090. During May, the total cash deposited was $70,270 and checks written totaled $65,250. The bank statement indicated a balance of $23,820 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,610. b. A deposit of $8,640, representing receipts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,570 on a note left for collection. The face of the note was $4,220. d. A check for $490 returned with the statement had been incorrectly charged by the bank as $940. e. A check for $850 returned with the statement had been recorded by Brentwood Bike Co. as $580. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $60. g. A check for…

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None

Will any of the gain be excluded under Section 121?