51. Jones Lumber had an exclusive three-year supply agreement with Wood Construction. The contract called for lumber sales of $4,000,000 per year. After one year, Wood Construction canceled the contract without cause. The court found Wood Construction liable under the contract. Jones Lumber had average gross margins of 40 percent and average net income of 10 percent of sales. Jones Lumber's operating expenses average 70 percent fixed. Because of the lost contract, Jones Lumber carried $2,500,000 more in lumber inventory than it would have absent the contract. Storage, handling, and carrying cost of lumber inventory averages 12 percent at Jones Lumber. What if any amount would this fact add to your damage estimate in this case?

52. Deposition testimony occurs during the:

53. Deposition testimony:

54. During deposition testimony:

55. During cross-examination testimony, the opposing attorney may try to discredit the expert witness by questioning his or her:

56. Cost behavior refers to:

57. Fixed costs are costs that:

58. A simple but potentially useful method of estimating cost behavior is the:

59. Georgetown Company's weekly store operating costs for a 10-week period had a value of $300,000 and a low value of $260,000. Sales volumes for the two weeks were $4,000,000 and $3,200,000 respectively. The estimated variable cost per dollar of sales using the high-low method is:

60. Georgetown Company's weekly store operating costs for a 10-week period had a value of $300,000 and a low value of $260,000. Sales volumes for the two weeks were $4,000,000 and $3,200,000 respectively. The estimated fixed cost using the high-low method is:

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51 The fact that Jones Lumber carried 2500000 more in lumber inventory than it would have absent the contract would add an additional cost to the dama... View the full answer