A promisor may assert the defense of contractual modification or rescission, even if an intended beneficiary's rights have vested
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Harris Company had checks outstanding totaling $15,400 on its May bank reconciliation. In June, Harris Company issued checks totaling $64,900. The June bank statement shows that $37,600 in checks cleared the bank in June. A check from one of Harris Company's customers in the amount of $300 was also returned marked "NSF." The amount of outstanding checks on Harris Company's June bank
reconciliation should be A) $49,500. B) $53,000. C) $37,600. D) $42,700.
Which of the following is a right to remedy that a seller can claim while the goods are in possession of the buyer?
A) right to dispose of goods B) right to withhold delivery of goods C) right to stop delivery of goods in transit D) right to reclaim goods
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 6.5ounces$2.00per ounce$13.00Direct labor 0.2hours$23.00per hour$4.60Variable overhead 0.2hours$6.00per hour$1.20?The company reported the following results concerning this product in June. Originally budgeted output 2,700unitsActual output 2,800unitsRaw materials used in production 19,380ouncesPurchases of raw materials 21,400ouncesActual direct labor-hours 500hoursActual cost of raw materials purchases$40,660 Actual direct labor cost$12,050 Actual variable overhead cost$3,100 ?The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when
the materials are purchased.?The labor rate variance for June is: A. $550 F B. $550 U C. $616 F D. $616 U
Only an actual seller or purchaser can bring a suit for civil recovery under 10(b)
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