Dairy Goods Agrees to Sell a Certain Quantity of Ice

question 4

Multiple Choice

Dairy Goods agrees to sell a certain quantity of ice cream to Event Caterers, but their contract does not specify the address at which the goods are to be delivered. The place of delivery is

• A) the seller's place of business.
• B) the seller's residence.
• C) the buyer's place of business .
• D) nonexistent and so the contract is void.

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Definitions:

Machine-Hours

A measure of the amount of time a machine is operated, used as a basis for allocating manufacturing overhead costs to products.

Machine-Hours

A measure of production time using machines, typically used as a basis for allocating manufacturing overhead to products.

Denominator Level

In cost accounting, refers to the total quantity or capacity used to allocate fixed costs to different cost objects.

Budget Variance

The difference between what was budgeted for a period and what was actually spent or received.