Prepare your answers for all of the following problems in one Excel and submit the Excel file
Question:
Prepare your answers for all of the following problems in one Excel and submit the Excel file in Canvas. Use one file that contains solutions on different sheets; do not try to submit separate Excel files. Clearly indicate your answers. The solutions in your Excel file should be very organized with every number labeled. Follow the examples in the textbook for the proper format.
ABC, Inc. entered into a two-year contract to supply XYZ Company with 100,000 bricks a month at a cost of $2.05 per brick. After the first year, ABC quit delivering the bricks to XYZ. If the expert for ABC computes the damages by reasoning that the loss is the “extra cost” XYZ had to pay to replace the defaulted brick shipments, what would the total damages be? Assume the expert identified relevant brick prices for the type and grade of bricks required under the contract as shown below.
Brick Prices Identified by ABC’s Expert
Month Price per Brick
January......................... $2.30
February.......................... 2.05
March ......................................2.10
April ........................................2.10
May..........................................2.25
June......................................... 2.30
July ......................................... 2.35
August .................................... 2.40
September............................... 2.30
October ................................... 2.30
November ............................... 2.25
December ............................... 2.05
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I