Answer:
a. Reformation
Explanation:
In the given instance, it is clearly observed that the Vehicle Identification Number is not correctly written in the contract, and that happened due to typing errors, and was not intentional.
In these cases the courts order to reform the contract, and then the reformed contract shall reflect the intentions of both the parties as what they intend.
In the given case also, reformation will take place as the error is not due to intentionally, fraud with the other party. Thus correct option is:
a. Reformation
Answer:
(a) The dollar value of abnormal spoilage.
$499,317.
(b) The cost of the good units finished.
$12,669,193.
(c) The cost of ending work-in-process inventory
$1,421,491.
The complete solution of the problem is attached with an excel spreadsheet.
Lower; unchanged
- Average total cost (ATC) in economics is calculated as total fixed and variable costs divided by the number of units produced. The normal shape of the average total cost curve is a U, meaning it drops, bottoms out, and then rises. The total cost of an organization is the sum of its fixed and variable costs.
- The vertical summation of AFC and AVC must be obtained in order to graph average total costs (ATC). Plot the points as shown on the left after adding the two at each output level. Because it is the result of adding the AFC and AVC curves, the ATC curve is higher than the other two. You can see that it is U-shaped, just like the AVC curve, on the left.
Thus this is the answer.
To learn more about curve, refer: brainly.com/question/25109150
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Answer:
C) Inventory xxx Accounts Payable xxx
Explanation:
Accounts payable is a liability, and a liability always has a credit balance, as the amount is due to them. The company needs to pay them back.
Accordingly the company buys inventory and the inventory is an asset and thus, the company will debit the inventory account.
Whenever any purchases are made, or any service is utilized on credit then the company creates an accounts payable as a liability as against it.
