York Co Assigns a Conditional Contract with Bevier to Zeno Finance

question 22

True/False

York Co. assigns a conditional contract with Bevier to Zeno Finance on November 10^th. Zeno Finance notifies Bevier of the assignment on November 17^th. Bevier had mailed his cheque to York Co., due on November 15^th, on November 12^th. If Zeno Finance gave Bevier notice on November 13^th that the November 15^th payment was to be made to them, but Bevier had already mailed the cheque on the 12^th to York Co., then Bevier must put a stop payment on the cheque to York Co. and send a new one to Zeno Finance for the November 15^th payment.

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Definitions:

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities related to production.

Production Orders

Instructions or commands produced to initiate the manufacture of a specific quantity of goods at a specified time.

Activity-Based Costing

A costing method that allocates overhead and indirect costs to specific activities, providing more accurate product costing.

Direct Labor Rate

The cost of the work done by those employees who directly manufacture the products, usually measured per hour.