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aivan3 [116]
3 years ago
10

When Paul arrived at work in the morning, he promised his co-workers that he would buy dinner for all of them that evening. He m

ade this promise because his co-workers were already obligated to stay for work late. When dinnertime came, he told his co-workers that he did not have the money to buy dinner. Has Paul breached a contract
Business
1 answer:
patriot [66]3 years ago
8 0

Answer: No, Paul has not breached a contract.

Explanation: To answer this, we must first we must define what a contract is.

A contract is an agreement between two or more people that is legally binding, and which guides or governs the actions or conducts of the parties involved.

A quality that makes a contract legally binding is that it is enforceable by law.

In the scenario given in the question above, Paul has not breached any contract because there isn't one. The promise to buy dinner has not been legally bound, therefore, it is not enforceable by law, in essence, it is not qualified to be called a contract.

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Rustafson Corporation is a diversified manufacturer of consumer goods. The company's activity-based costing system has the follo
sdas [7]

Answer:

Rustafson Corporation

1. Computation of the activity rate for each activity cost pool:

Activity Cost Pool    Activity Rate

Labor-related            $6.50 per DLH

Machine-related       $0.25 per MH

Machine setups        $42 per setup

Production orders    $36 per order

Product testing         $24 per test

Packaging                 $15 per package

General factory        $13.60 per DLH

2. Computation of the predetermined overhead rate:

Predetermined overhead rate = Total overhead divided by total direct labor hours

= $358,800/8,000

= $44.85

Explanation:

a) Data and Calculations:

Estimated  Overhead Cost      Expected Activity                 Activity Rate

Labor-related $ 52,000         8,000 direct labor-hours    $6.50 (52,000/8,000)

Machine-related $ 15,000     20,000 machine-hours       $0.25 ($15,000/20,000)

Machine setups $ 42,000     1,000 setups                       $42 ($42,000/1,000)

Production orders $ 18,000  500 orders                          $36 ($18,000/500)

Product testing $ 48,000      2,000 tests                         $24 ($48,000/2,000)

Packaging $ 75,000              5,000 packages                 $15 ($75,000/5,000)

General factory $ 108,800    8,000 direct labor-hours  $13.60 ($108,800/8,000)

Total overhead  = $358,800

Total direct labor hours = 8,000 DLH

Predetermined overhead rate = Total overhead divided by total direct labor hours

= $358,800/8,000

= $44.85

3 0
3 years ago
A small craft store located in a kiosk expects to generate annual cash flows of $6,800 for the next three years. At the end of t
Dafna11 [192]

Answer:

The monetary value is $24,201.23

Explanation:

Giving the following information:

Cash flows:

Year 1= $6,800

Year 2= 6,800

Year 3= 6,800

Year 4= $15,000.

The discount rate is 15 percent.

We need to discount each cash flow to the present value:

PV= FV/(1+i)^n

Year 1= 6,800/1.15= 5,913.04

Year 2= 6,800/1.15^2= 5,141.78

Year 3= 6,800/1.15^3= 4,471.11

Year 4= 15,000/ 1.15^4= 8,576.30

Total= $24,201.23

6 0
3 years ago
Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,100. Budgeted cash rec
N76 [4]

Answer: $13,700

Explanation:

From the question, we are informed that Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,100. Budgeted cash receipts total $188,500 and budgeted cash disbursements total $190,200. The desired ending cash balance is $31,100.

To attain its desired ending cash balance for January, the company should borrow $13,700.

The solution has been attached.

4 0
3 years ago
As industries become global in scope, competitors and potential future competitors exist not only in a company's home market but
Lesechka [4]

Answer:

<u>Globalize</u>

Explanation:

Globalization in simple terms refers to integration of domestic economy with the world economy. It lays emphasis upon removing trade barriers and making the world one big market.

The concept of Globalization gave rise to the emergence of multi national corporations operating multiple businesses in different countries.

As companies go global, the intensity of competition increases as it's no longer restricted within domestic boundaries.  Such international competition induces companies to come up with new innovations and methods so as to survive globally. This enhances the efficiency.

Thus, this serves as one of the motives for the companies to Globalize.

3 0
4 years ago
what was the main cause behind the lowell strike in the mid nineteenth century? (a. wage cuts)( b. working hours) (c. living con
shtirl [24]
A I believe is your answer
4 0
3 years ago
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