Sam expressed interest in buying a painting from jasper, whose asking price was $15,000. sam was only willing to offer $13,000. jasper told him that it was a very old painting worth a fortune and that others would gladly pay $20,000 for it. sam decided to buy the painting for $15,000 on the condition that if he found that the painting was worth less than $15,000, jasper would have to take the painting back and refund sam. which of the following warranties did this sales contract have?
a. an express warranty
b. an implied warranty of merchantability
c. an oral contract
d. a statement of opinion

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.