If fixed costs are $1,291,000, the unit selling price is $238, and the unit variable costs are $105, what is the amount of sales in units (rounded to a whole number) required to realize an operating income of $217,000? a. 5,424 unitsb. 11,338 unitsc. 2,067 unitsd. 12,295 units
Nieland Industries had one patent recorded on its books as of January 1, 2020. This patent had a book value of $288,000 and a remaining useful life of 8 years. During 2020, Nieland incurred research and development costs of $96,000 and brought a patent infringement suit against a competitor. On December 1, 2020, Nieland received the good news that its patent was valid and that its competitor could not use the process Nieland had patented. The company incurred $85,000 to defend this patent. At what amount should patent (s) be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents?