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3 years ago

A contract that is voidable

1 answer:

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A voidable contract, unlike a void contract, is a valid contract which may be either affirmed or rejected at the option of one of the parties.

Reasons that can make a contract voidable include failure by one or both parties to disclose a material fact; a mistake, misrepresentation or fraud; undue influence or duress; one party's legal incapacity to enter a contract; one or more terms that are unconscionable; or a breach of contract.

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Cullumber Company had a beginning inventory on January 1 of 75 units of Product 4-18-15 at a cost of $18 per unit. During the ye

lora16 [44]

Answer:

Weighted average:

EI: 2,290

COGS: 9, 160

LIFO

EI: 2,400

COGS: 9,050

FIFO

EI: 3,000

COGS: 8,450

Explanation:

beginning 75 units at $ 18 = $ 1,350

Mar. 15 200 units at $21 = $ 4,200

Sept. 4 175 units at $24 = $ 1,800

July 20 125 units at $22 = $ 2,750

Dec. 2 50 units at $27 = $ 1,350

total units: 625 units cost of goods available: 11,450

average cost: 11,450/625 = $ 18.32 per unit

inventory units: 625 - 500 = 125 units

Weighted average:

EI: 125 x $18.32 = 2,290

COGS: 500 x $18.32 = 9, 160

500 units were sold

LIFO:

last units are sold while frist are inventory

ending inventory

beginning 75 units at $ 18 = $ 1,350

Mar. 15 50 units at $21 = $<u> 1,050 </u>

Total 2,400

COGS: available - ending inventory

11,450 - 2,400 = 9,050

FIFO

first units are sold while last are inventory

Dec. 2 50 units at $27 = $ 1,350

July 20 75 units at $22 = $ <u>1,650 </u>

Total 3,000

COGS: available - ending inventory

11,450 - 3,000 = 8,450

7 0

3 years ago

In the 1990s, the russian people lost confidence in the value of the ruble, and many were no longer willing to sell goods and se

hodyreva [135]

The answer to this question is <span>acceptability
The </span><span>acceptability characteristic refers to whether the currency is accepted as a medium of exchange for the transaction in the market.
Currency that has high rate of acceptability tend to be less volatile in the foreign exchange market and attract more investment.</span>

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3 years ago

Misaki, a sales manager at a startup cosmetics company, wants to determine her company’s market potential. She first develops a

Viefleur [7K]

The type of approach Misaki is using to determine her company's market potential is the breakdown approach, used to determine the size of sales forces needed in a company.

<h3 /><h3>Breakdown approach</h3>

Corresponds to a method used to identify an organization's sales force, through projections for future sales and past sales history.

Therefore, in the breakdown approach, the total sales value identified by the sales projection is divided by the sales generated by each sales professional, assuming that each one reaches the same level of productivity.

The correct answer is:

Breakdown approach

Find out more information about breakdown approach here:

brainly.com/question/5775960

6 0

2 years ago

Innovative Tech Inc (ITI) uses the percentage of credit sales method to estimate bad debts each month and then uses the aging me

Nutka1998 [239]

Answer:

The answer is given below;

Explanation:

1. $100,000*.5%=$500

Bad Debt Expense Dr.$500

Allowance for Bad Debt Cr.$500

2. 1-30 days $75,000*10%=7,500

31-90 days $10,000*20%=2,000

More than 90 days $4,000*40%=1,600

Total Allowance for Doubtful Accounts-Closing=$11,100

3. Adjusting entry for December 31,2013

Opening Balance ($1,600)

Closing balance $11,100

Allowance for the year $9,500

Bad Debt Expense Dr.$9,500

Account Receivable Cr.$9,500

4. Allowance for Doubtful Accounts $11,100

8 0

4 years ago

The Junior League of Yadkinville, California, collected recipes from members and pub- lished a cookbook entitled Food for Everyo

MaRussiya [10]

Answer:The variable cost per book is $16

Explanation:

Sale price per book = $18

Books need to sell = 2,000

Total Revenue. = $36,000

($18*2,000)

At Break Even Total Revenue = Cost + investment so total variable cost is ($36,000 - $4,000) = $32,000 and cost per book is $32,000÷2,000 = $16 per book

4 0

3 years ago