Bryson Hardware Accepted Delivery of the 50 Door Handles It

question 8

Multiple Choice

Bryson Hardware accepted delivery of the 50 door handles it ordered.If it later finds the handles do not conform to the contract specifications and it wants to revoke its acceptance,it may return the goods only if

• A)it shows the original acceptance of the goods never occurred.
• B)it shows that the defects substantially impair their value.
• C)it can prove it is commercially impracticable for it to keep the goods.
• D)the documents of title are in order.

Determine the overhead cost assigned to products under activity-based costing system.

Understand the impact of costing methods on product cost determination.

Analyze the difference in overhead per unit and unit product costs between traditional and activity-based costing.

Understand the components and calculation of the cost of goods sold.

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Definitions:

Interest-Rate Cost-Of-Funds

The rate of interest a financial institution pays to borrow funds or the cost of obtaining funds through borrowing or issuing debt.

Marginal Benefit

The additional benefit received from consuming or producing one more unit of a good or service.

Perfectly Elastic

A market scenario where the demand or supply responds infinitely to any change in price.

Optimal R&D

Refers to the ideal level of spending or investment in research and development activities that maximizes innovation benefits relative to costs.