Use the Correct Number to Designate Each Item Below

question 108

Short Answer

Use the correct number to designate each item below.Assume they are for a manufacturer.
1.direct materials
2.selling and general expenses
3.manufacturing overhead
4.direct labor

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Definitions:

Repudiation

The rejection or refusal to acknowledge or pay a debt, obligation, or contract.

Terminate Contractual Duties

The act of formally ending obligations stipulated in a contract by mutual agreement or as allowed by the contract terms.

Perfect Performance

The fulfillment of all obligations in a contract in the manner that was specified and agreed upon by the parties involved.

Complete

To finish all parts of a task or duty fully and to satisfaction.