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Answer the following questions using the information below:
Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes:
-What is cost of goods sold using variable costing?
Acceleration Clause
A contractual term that comes into effect when there is a failure to make an instalment payment and which requires that the entire debt plus expenses be paid.
Installment Payment
A method of payment where the total cost is divided into smaller amounts, paid over a specified period of time.
Injunction
A legal directive compelling an individual or a group to initiate or halt a defined action.
Specific Performance
A legal remedy that compels a party to execute a contract according to its precise terms when monetary damages are inadequate.
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