Bob contracts with Ace Plumbing, Inc., to pay $700 over a six-month period for its services. After Ace performs, they sign an accord, in which Bob promises to pay Ace $500 next week in lieu of the $700. Bob does not pay the $500. Ace can bring an action against Bob based on.

either the accord or the original contract.

Explanation:

Bob and Ace plumbing have made a contract and even signed an accord, hence either the accord or the original contract can be used by Ace to bring an action against Bob.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total