For a contract to be legally binding and enforceable, consideration must be exchanged. A legally enforceable contract can either be written or oral. However, depending on the nature of the transaction, some contracts might need to be written down to be enforceable. Hope this helps
Lily can benefit both from investing her money in the bank and in insurance companies. The bank can be both a short and long-term investment where she could get her finances from in case she needs them, while insurance companies will become her long-term investment in case she needs finances for her other needs (i.e. health, travel, etc.).
Answer:
$4,300
Explanation:
Calculation for what amount should Nelson report for total ending inventory on its Dec. 31 balance sheet
Total ending inventory=( 200*3.50)+(400*1.50)+ (1,000*3.00)
Total ending inventory=$700+$600+$3,000
Total ending inventory=$4,300
Therefore the amount that Nelson should report for total ending inventory on its Dec. 31 balance sheet will be $4,300
Answer:
$357 Unfavorable
Explanation:
Fixed manufacturing overhead volume variance identifies the amount by which actual production differs from budgeted production.
<em>Fixed manufacturing overhead volume variance = Actual Output at Budgeted rate - Budgeted Fixed Overheads</em>
= (5,230 × $5.10) - ($5.10 × 5,300)
= $26,673 - $27,030
= $357 Unfavorable
Answer: Speculative inventory
Explanation:
Speculative inventory, is also called the anticipatory inventory, and this occurs when an inventory is purchased so that it can be held for future need. Therefore z buying it early then becomes a necessity.
Therefore, the situation whereby a 4-pack Sensodyne Extra Whitening Toothpaste at $29.99, was bought and will last three months for the family to use is referred to as speculative inventory.
