Options:
- Smith Bus should be excused from performance under the clause for the rights on improper delivery
- Smith Bus should not be excused from performance because it did not act in good faith
- Smith Bus should be excused from performance under the test of commercial impracticability
- Smith Bus can exercise its right of anticipatory repudiation
Answer:
Correct answer is Option c.
<u>Smith Bus should be excused from performance under the test of commercial impracticability
</u>
Explanation:
In this case, Smith cannot fulfil the contract obligation due to an unforeseen event. Hence, Commercial impracticability shall apply.
Answer:
1) A: Gross wages do not represent a decrease in net cash received on an employees paycheck. The gross wage s what the employee would have earned if no deductions were made.
2) C: Year to date summaries on a paycheck stub accumulate salaries and deductions in the same way an income statement accumulates revenues and expenses over a period.
3) B: At the end of each accounting period temporary accounts have to be set to zero. Their balances are transferred to permanent accounts.
Answer:new; unique
Explanation:
Pioneering new entry is when a firm brings a new product into the market which in turn, changes the way in which businesses will be conducted.
In situations whereby the product is unique, then the pioneering firm may end up having little direct competition. Pioneering new entry is somehow risky as the product or service may not be accepted.
Answer:
The cost of goods manufactured is $860,000
Explanation:
The cost of goods manufactured = The cost of the beginning work in process inventory + direct materials cost + direct labor cost + overhead cost - the ending work in process inventory.
The company has the cost of the beginning work in process inventory is $50,000, direct materials cost is $340,000, direct labor cost is $206,000, an overhead cost is $309,000, and the ending work in process inventory is $45,000
The cost of goods manufactured = $50,000 + $340,000 + $206,000 + $309,000 - $45,000 = $860,000
