Regarding Alexandra's Statement to the Judge That the Agreement to Sell

question 21

Multiple Choice

Regarding Alexandra's statement to the judge that the agreement to sell the car was covered by the statute of frauds,which of the following is true?

• A)She was incorrect because the statute of frauds provision involving the sale of goods only applies to goods costing over $1,500.
• B)She was incorrect because the statute of frauds provision involving the sale of goods only applies to goods costing over $5,000.
• C)She was incorrect because while the UCC has a provision regarding writings for the sale of certain goods,that provision is not a part of the statute of frauds.
• D)She was correct.
• E)She was incorrect because the statute of frauds provision involving the sale of goods only applies to goods costing over $2,000.

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Definitions:

Normal Capacity

The average level of production that a company can sustain under normal circumstances, considering limitations like time and resources.

Factory Overhead

Refers to the indirect manufacturing costs not directly tied to the production of the product, such as maintenance, utilities, and salary of non-direct labor.

Fixed Factory Overhead Volume Variance

The difference between the budgeted amount for fixed factory overhead and the amount applied to production, based on standard cost.

Direct Materials Quantity Variance

A financial measure that shows the difference between the actual quantity of materials used and the standard quantity expected for production.