Answer:
d. $7,000.
Explanation:
The computation of the loss recorded due to asset impairment is shown below:
= Book value - fair value
= $35,000 - $28,000
= $7,000
If we consider the building and the patent we see that the estimated cash flows are more than the book value, so no loss on impairment should be taken place
Therefore, only $7,000 should be recorded as a loss on impairment of the asset
According to the Uniform Commercial Code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods courts generally have no basis for determining a remedy.
<h3>What do you mean by Uniform Commercial Code?</h3>
The uniform Commercial code states that a sale consists of the passing of title from the seller to the buyer for a price.
According to the Uniform Commercial code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods, courts have no basis for the determination of remedy.
Learn more about uniform commercial code here:
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In the joint planning process, A Planning Order
(PLANORD) <span>is a planning directive providing
essential planning guidance and directs the initiation of plan development
before the directing authority approves a military COA. It saves times by
allowing planning activities to begin in advance of a formal decision.</span>
Answer: 4,975 units
Explanation:
Budgeted production in July = Sales forecast for July + Ending inventory for July - Beginning inventory
Beginning inventory = 25% of July sales
= 25% * 4,800
= 1,200 units
Ending inventory = 25% of August sales
= 25% * 5,500
= 1,375 units
Budgeted production is therefore:
= 4,800 + 1,375 - 1,200
= 4,975 units
