What Is "Course of Performance

question 26

Multiple Choice

What is "course of performance?"

• A) the previous conduct of the parties regarding the contract in question
• B) the conduct of the parties in prior transactions and contracts
• C) any practice or method of dealing that is regularly observed or adhered to in a place,a vocation,a trade,or an industry
• D) an exception to the Statute of Frauds

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Definitions:

Activity Cost Pools

Groupings of all costs associated with particular activities, which are then allocated to products or services based on their use of those activities.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing a more accurate reflection of the costs incurred by products or services.

Plantwide Overhead Rate

A single overhead rate calculated by dividing total indirect costs by total base units, used throughout an entire manufacturing plant.

Manufacturing Overhead

All indirect costs associated with manufacturing, not including direct materials and direct labor.