[The Following Information Applies to the Questions Displayed Below

question 66

Multiple Choice

[The following information applies to the questions displayed below.]
General Chemical Company (GCC) manufactures two products as part of a joint process: A1 and B1.Joint costs up to the split-off point total $22,000.The joint costs are allocated to A1 and B1 in proportion to their relative sales values.At the split-off point,product A1 can be sold for $42,000,whereas product B1 can be sold for $63,000.Product A1 can be processed further to make product A2,at an incremental cost of $38,000.A2 can be sold for $85,000.Product B1 can be processed further to make product B2,at an incremental cost of $48,000.B2 can be sold for $95,000.
-Joint costs allocated to product A1 total:

• A)$8,800.
• B)$13,500.
• C)$13,200.
• D)$22,000.

Analyze the obligations of contractual parties as determined by common law and the UCC.

Develop an understanding of the remedies available for breach of contract under the UCC.

Comprehend the role of good faith in the performance and enforcement of contracts according to the UCC.

Recognize the significance of titles, risk, and insurable interest provisions under the UCC.

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