If the Performance of a Contract That Was Legal When

question 55

True/False

If the performance of a contract that was legal when formed becomes illegal because of a subsequently enacted law, the duty of performance is discharged.

Understand the impact of manufacturing overhead application on cost of goods sold.

Prepare journal entries related to manufacturing overhead incurrence and application.

Understand the process of recording transactions for raw materials, including distinguishing between direct and indirect materials.

Learn the method to calculate and journalize the manufacturing overhead based on raw materials transactions.