Answer:
Maxwell will win this case, as per division 2 of UCC, seller bears the cost for loss under implied warranty of fitness, if the goods do not meet the ordinary purpose or is inefficient.
Explanation:
Given in this case, Maxwell is applying "Universal Commercial Code (UCC)" division 2 provision, which defines all the goods and services.
A movable property, which can be sold from seller to the buyer at certain prices are called goods. Therefore, in this case, "Raw Cream" comes in the definition of goods, as it is directly sold to Maxwell by the grocery shop.
Maxwell will win this case, as per division 2 of UCC, seller bears the cost for loss under implied warranty of fitness, if the goods do not meet the ordinary purpose or is inefficient.
Answer:
Interest earn= $80.14
Explanation:
Giving the following information:
PV= $1,000
i= 7%
n= 3
<u>First, we will calculate the future value at the second year:</u>
FV= PV*(1+i)^n
FV= 1,000*(1.07^2)
FV= 1,144.9
<u>Now, for the third year:</u>
FV= 1,144.9*1.07= 1,225.04
Interest earn= 1,225.04 - 1,144.9= $80.14
Answer:
Fixed Overheads Spending Variance = $5,000 Unfavorable(U).
Fixed Overheads Spending Variance = $20,000 Favorable (F).
Explanation:
Fixed Overheads Spending Variance = Actual Fixed Overheads - Budgeted Fixed Overheads
= $305,000 - $300,000
= $5,000 Unfavorable(U).
Fixed Overheads Spending Variance = Fixed Overheads at Actual Production - Budgeted Fixed Overheads
= ($5.00 × 64,000) - $300,000
= $320,000 - $300,000
= $20,000 Favorable (F)
A cycle or series of cycles of economic expansion and contraction.