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asambeis [7]
2 years ago
7

General Contracting was hired by the city of Rockyville to put in a new road through a mountain pass for $2 million. General Con

tracting did reasonable soil tests as would be expected of a contractor under their circumstances. The job would involve about 80% costs related to highway materials and 20% labor costs. When General Contracting started building the road, they discovered that it was solid granite a few feet down and that the mountain was unlike any they had ever seen in the state. It would cost them over $5 million in costs just to complete the job. If General Contracting refuses to complete the job at a loss and Rockyville sues, what result
Business
1 answer:
REY [17]2 years ago
3 0

If General Contracting is sued by Rockville for refusing to complete the job, General Contracting can have the contract discharged on an impracticability basis.

<h3>What would make a contract impractical?</h3>

When parties to a contract agree to a contract that based on normal circumstances and due course, and one party discovers that they cannot complete the contract based on unforeseen circumstances, the contact can be ruled impractical.

General Contracting could not foresee the solid granite foundation and so they could not have known they would pay so much to complete the project. The contract can therefore be impracticable.

Find out more on impracticable contracts at brainly.com/question/10160005.

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The setup time for a batch of 250 products is 30 minutes while the production time is 5 minutes for each product. If the batch s
kramer

Answer:

d. Decrease by 0.045 minutes

Explanation:

<u>First Case</u>  

Time per unit for 250 batch size = (30 / 250) + 5 minutes

Time per unit for 250 batch size = 5.12 minutes

<u>Second case</u>

Time per unit for 250 batch size = (30 / 400) + 5 minutes

Time per unit for 250 batch size = 5.075 minutes

The decrease in manufacturing time = Old-time - New time  = 5.12 - 5.075  =  0.045 minutes . So, it Decrease by 0.045 minutes

7 0
3 years ago
The impact lag facing the Fed is
Annette [7]

Answer: A: the time required for monetary policies to take effect

Explanation:

The impact lag also known as the response lag is the time it takes for corrective monetary and fiscal policies, designed to smooth out the economic cycle or respond to an adverse economic event, to affect the economy once they have been implemented.

For instance, during the last recession, several policies were introduced by the government to manage the situation . The time it takes for the citizens to feel the impact of these policies is known as the impact lag phase.

6 0
3 years ago
Three categories of activities (operating, investing, and financing) generate or use the cash flow in a company. In the followin
Marat540 [252]

Answer:

a. Yum Co. uses cash to repurchase 10% of its common stock. (Financing activity)

b. DigiInk Printing Co. buys new machinery to ramp up its production capacity. (Investing activity)

c. D and W Co. sells its last season’s inventory to a discount store. (Operating activity)

d. A company records a loss of $70,000 on the sale of its outdated inventory. (Operating activity)

Explanation:

Cash flow statement shows how cash is used and obtained in a business. There are different activities that influence cash flow. Below are the activities:

- Operating activities are those that include normal business operations like buying and selling of inventory, interest payments, and salaries.

- Investing activities involves use of cash for investment like purchase or sale of assets, merger and acquisitions payments, and purchase of equipment.

- Financing activities includes cash used to purchase or sell equity such as shares, payment of dividends, and repayment of principal from debt

3 0
3 years ago
The following account balances appear in the 2021 adjusted trial balance of Blue Devils Corporation:
muminat

Answer and Explanation:

The preparation of the classified balance sheet is presented below:

                                        Blue Devils Corporation

                                                Balance Sheet

                                                    Dec 31, 2021

Assets Amount ($) Liabilities and shareholder equity Amount ($)

Current assets:                   Current liabilities  

cash $3,800                          Accounts payable                $24,800

Accounts receivable $7,800   Salaries payable                 $14,800

Supplies     $17,800

Total current assets $29,400   Total current liabilities        $39,600  

Long-term assets                     Stockholders equity  

Equipment   $108,000            Common stock               $48,000

Accumulated depreciation -39,000  Retained earnings        $10,800

Total assets $98,400     Total liabilities and stockholders equity $98,400

We find the retained earning balance by applying the accounting equation which is shown below:

Assets   = Liabilities + common stock + retained earnings

$98,400 = $39,600 + $48,000  + retained earning

So, the retained earning is $10,800

6 0
3 years ago
A pre-concert rehearsal is an example of
Mrrafil [7]

Answer:

Quality control

Explanation:

Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.

Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.

Generally, there are two (2) main methods of achieving the six sigma approach;

1. DMAIC: define, measure, analyze, improve and control.

2. DMADV: define, measure, analyze, design and verify.

Hence, a pre-concert rehearsal is an example of quality control because the participants or team members are made to practice their routines so as to master them and prevent mistakes on the day of the concert. Thus, a pre-concert is aimed at getting the best out of a team in order to deliver a quality performance to the audience.

5 0
2 years ago
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