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3 years ago

What does free contract mean?

1 answer:

7 0

In economics, free contract is the concept that people may decide what agreements they want to enter into. Acontract may be described as freewhen it is free from force or fraud.

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Harrington Company uses predetermined overhead rates to apply manufacturing overhead to jobs. The predetermined overhead rate is

Setler79 [48]

Answer

Machining Department Assembly department

POAR = $5 per machine hour 200% of direct labor cost

Explanation:

Under absorption costing, overheads are charged to products using pre-determined overhead absorption rate. With this rate, overhead are included in the cost of every unit produced.

The rated is computed follows:

Predetermined overhead absorption rate (POAR)

= Estimated overhead for the period/Estimated activity level

Machining Department

POAR =25,000/ 5,000 machine hours=$5 per machine hour

Assembly department

PIAR = $30,000/15,000× 100 = 200% of labor cost

3 0

3 years ago

Chad, who owns the only coffee shop in Rivercity, learns that Jose is about to open a competing coffee shop in the same small to

Leya [2.2K]

Answer:

Rivercity Coffee Shop

Chad cannot sue Jose. The $10,000 is paid to Jose is a bribe. Since a bribe is not legal, it cannot form the basis for an enforceable contract.

Moreover, the offer by Chad is an antitrust and anti-competition consideration that is legally frowned upon. illegal contract

Explanation:

For a contract to be enforceable, it cannot be illegal. A bribe is illegal. The basis for the contract is illegal. Therefore, Chad cannot sue Jose. Since Jose decided to breach the contract, neither Chad nor Jose is entitled to any compensation. Jose cannot be held liable for non-performance.

6 0

3 years ago

Consider the market for $200 bonds. If the price of the bond is $175, what is the interest rate on bonds

Viefleur [7K]

Answer:

14.3%

Explanation:

Interest rate = (par value of the bond / price of the bond ) - 1

(200/175) - 1 = 0.143 = 14.3%

5 0

3 years ago

Roberta wagner drove to westfield to visit a client. she drove 86 miles round-trip. the company will reimburse her $0.29 per mil

coldgirl [10]

The answer is <span>$379.17. </span>

8 0

4 years ago

Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are i

wariber [46]

Answer and Explanation:

The computation is shown below:

1. Calculation of the equivalent units

<u>Particulars Physical units % Material % Conversion cost</u>

Units transferred

out 900 100% 900 100% 900

Ending

work in process 600 100% 600 40% 240

Equivalent

units 1,500 1,140

2. Cost per equivalent unit is

Particulars Material Conversion cost

Beginning

inventory $750 $600

Cost during

period $2,400 $2,820

Total cost $3,150 $3,420

Divided by

Equivalent

units $1,500 $1,140

Cost per

equivalent unit $2.1 $3

3. Transferred out cost is

= (3 + 2.1) × 900

= $4,590

And, the ending work in process cost is

= (600 ×$2.1) + (240 × $3)

= $1,960

2. Now the preparation of the production report is presented below:

Beginning work in process $1,350

Cost during period $5,220

Total cost accounted for $6,570

Transferred out cost $4,590

Ending work in process $1,960

Total cost accounted as $6,570

3 0

3 years ago