The party which is entitled to sue Midwest for its failure to honor the terms of the contract is Laurelei because she is the contract beneficiary.
Basically, the life assurance policy is a policy which promises to pay the beneficiary of the life assured a certain sum after the death of the life assured.
Here, the contract of assurance is valid because Thiago ensures continuous payment of his premium.
Thus, Laurelei who is a beneficiary to Thiago life assurance is entitled to the sum assured because she is included in the contract terms as a beneficiary since the inception of the contract.
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Answer:
a. Dr Inventory $10,000
Cr Accounts payable $10,000
b. Dr Accounts payable $10,000
Cr Cash $9,800
Cr Inventory $200
Explanation:
Preparation of the Journal entries Under a perpetual inventory system,
a. Dr Inventory $10,000
Cr Accounts payable $10,000
( To record purchase of merchandise)
b. Dr Accounts payable $10,000
Cr Cash $9,800
($10,000-$200)
Cr Inventory $200
(2%*$10,000)
( To record payment for merchandise)
Discount amount = Amount due x Discount percentage
Discount amount= 10,000 x 2/10
Discount amount= $200
Answer:
Fixed overhead volume variance
= (Standard hours - Budgeted hours) x Standard fixed overhead rate
= (11,000 - 10,000) x $1.35
= $1,350(F)
The correct answer is A
Standard fixed overhead rate
= <u>Budgeted overhead</u>
Budgeted direct labour hours
= <u>$13,500</u>
10,000 hours
= $1.35 per direct labour hour
Explanation:
Fixed overhead volume variance is the difference between standard hours and budgeted hours multiplied by standard fixed overhead application rate. Standard fixed overhead application rate is the ratio of budgeted overhead to budgeted direct labour hours.
Answer: (D) Corporate strategy
Explanation:
The corporate strategy is one of the type of strategic planning method that helps in achieving the main objective of the company and also improving the various types of business units in an organization.
The corporate strategy basically creating the values and also developing the various types the various types of unique advantages for selling the products and the services in the market.
According to the given question, due to some political instability the strategic leader of the company decided to divest in the business and this is known as the corporate strategy.
Therefore, Option (D) is correct answer.
