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WINSTONCH [101]
3 years ago
10

Justin agrees to start a life-size portrait of Julia beginning November 2. On October 28 he writes to Julia that due to unforese

eable circumstances, he would not be able to perform his promise. Justin has used the doctrine of: quasi-contract. accord and satisfaction. specific performance. anticipatory repudiation.
Business
1 answer:
Nitella [24]3 years ago
8 0

Answer:

anticipatory repudiation.

Explanation:

Anticipatory repudiation refers to a party involved in a contract breaching the contract in advance. Through the use of anticipatory repudiation, the party that is breaching the contract declares that they are not going to perform their obligations.

In order to reduce possible damages and avoid potential losses, the party that breaches the contract has to act as quickly as they can so that the other party suffers the least possible damage or suffers the least possible losses. But still, the other party can sue for the breach of the contract and for any potential damages originated by the contract breaching.

You might be interested in
If GDP is $15 trillion, how many years will it take for GDP to increase to $30 trillion if annual growth is 2 percent
Varvara68 [4.7K]
Y = original value • growth ^(time/period of growth)

30000000000000 = 15000000000000 • (1+0.02)^(x/1)

Divide both sides by 15 trillion

2 = (1.02)^(x)

take logarithm of both sides

log2 = log1.02^x

Bring x down using log law

log2 = xlog1.02

Divide both sides by log1.02

x = 35

35 years

8 0
2 years ago
Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that
FinnZ [79.3K]

Answer:

1.Total Equivalent Units   Materials    471,600  Conversion     464,400

2. Cost Per Equivalent Unit Materials $ 1.33  Conversion   $ 0.75

3. Cost of Ending Work In Process  $ 39528

4. Cost Of Units Transferred Out = $ 936,000

5. Cost Materials  $ 627 228 and Conversion $348,300

Explanation:

Builder Products, Inc.,

Weighted-Average Method

1. Equivalent Units

Particulars              Units       % of Completion       Equivalent Units

                                       Materials Conversion   Materials Conversion

Transferred Out    450000     100         100             450,000      450,000

<u>Ending WIP           36000        60          40                21,600          14,400  </u>

<u>Total Equivalent Units                                              471,600       464,400</u>

Transferred Out units are calculated by adding Opening Inventory and production started and subtracting ending inventory units.

Transferred Out units = Opening Inventory+ production started -ending inventory units

Transferred Out units =76,000 + 410,00 - 36000= 450000 units.

2. Cost Per Equivalent Units

                                                     Materials         Conversion

Cost Of Opening Inventory         117,900                 53600

Cost Added                                  613,080              294,700

Total Costs                                <u>  624,980               348,300</u>

Equivalent Units                         471,600                464,400

Cost per Equivalent Unit            624980/471600        348300/464400

                                                      $ 1.33                           $ 0.75

3. Cost of Ending Work In Process  $ 39528

Materials = 21600 * $ 1.33= $ 28728

Conversion = 14400 * $ 0.75=  $10800

We multiply the equivalent number of units with the cost per unit to find the cost.

4. Cost Of Units Transferred Out = $ 936,000

Materials = 450 000 * $ 1.33= $ 598,500

Conversion = 450000 * $ 0.75 =  $ 337,500

5. A Cost Reconciliation Report

                                      Materials              Conversion

Ending WIP                     $ 28728                  $10800

<u>Transferred Out                $ 598,500             $ 337,500</u>

<u>Total                                </u><em><u> 627 228**</u></em><u>                 348,300</u>

These calculated costs reconcile with the costs given in the above data.

                                                   Materials              Conversion

Cost Of Opening Inventory         117,900                 53600

<u>Cost Added                                  613,080              294,700</u>

Total Costs                                <u>  </u><em><u>624,980**  </u></em><u>             348,300</u>

The difference is in the cost of materials which is actually <u> </u><em><u>624,980** and we found it out to be </u></em><u> </u><em><u> 627 228**</u></em><u>  .</u> This is because we rounded the Cost per Equivalent Unit of material from $ 1.325 to $1.33

If we multiply 1.325 *  471,600  we get $ 624870 which is almost the same.

5 0
2 years ago
What condition is necessary for a fiat money system to work?
Vaselesa [24]
The government must control the money supply.
3 0
3 years ago
Steve wanted to open a day care service facility for dogs. He estimated the costs involved in providing the services desired by
9966 [12]

Answer:

Business analysis.

Explanation:

4 0
3 years ago
Which of the following is NOT Considered personal information?
lbvjy [14]

Answer: NOne of the above. Or C Place of employement

Explanation:

5 0
3 years ago
Read 2 more answers
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