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3 years ago

Problems with capacity and consent:

Business

1 answer:

Natalija [7]3 years ago

8 0

Answer:

The correct answers are: 1. voidable, 2. capacity, 3. consent

Explanation:

For a contract to be legally valid, the concurrence of three essential requirements or elements is required, which are: the consent of the contracting parties, the true object that is the subject of the contract and the cause of the obligation to be established.

The consent is the manifestation of will of the parties, consisting of the concurrence of the offer and its acceptance, on the object and the cause of the contract. Any consent given by error, violence, intimidation or intent is void.

The purpose of the employment contract is the provision of paid services for others. Services contrary to laws or good customs, nor those that are outside the trade of men, cannot be subject to the contract.

Example: The provision of prostitution or drug trafficking services cannot be the subject of the employment contract.

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The Dogwood Technology Company managerial accountant computes the May total variance report. The budgeted fixed overhead was $ 4

Jobisdone [24]

Answer:

$750 favorable ; $200 unfavorable

Explanation:

The computations are shown below:

For fixed overhead budget variance:

= Budgeted fixed overhead - actual fixed overhead

= $47,420 - $46,670

= $750 favorable

For fixed overhead volume variance:

= Budgeted fixed overhead - standard fixed overhead cost allocated to production

= $47,420 - $47,220

= $200 unfavorable

Hence we consider all the given information

8 0

3 years ago

White Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermin

const2013 [10]

Question not complete

Direct Labour Cost is missing

Direct Labor Cost ----- $50,000.00 $270,000.00

Answer:

Overhead Rate (Cutting Department) = $5.5 per machine hour = $5.5 per machine hour

Overhead Rate (Finishing Department) = $12.2 per labour hour

b. Total Manufacturing Cost = $644

c. Yes

Explanation:

a. Compute the predetermined overhead rate to be used in each department.

Given

Cutting Department

The Cutting Department bases its rate on machine-hours

Manufacturing Overhead Costs = $264,000

Machine Hours = 48,000

Finishing Department

The Finishing Department bases its rate on direct labor-hours.

Manufacturing Overhead Costs = $366,000

Direct Labour Cost = $270,000

Overhead Rate (Cutting Department) = Manufacturing Overhead Cost/Machine Hours

Overhead Rate (Cutting Department) = $264,000/48,000

Overhead Rate (Cutting Department) = $5.5 per machine hour

Overhead Rate (Finishing Department) = Manufacturing Overhead Cost/Machine Hours

Overhead Rate (Finishing Department) = $366,000/$270,000

Overhead Rate (Finishing Department) = 1.36

Overhead Rate (Finishing Department) = 136% direct labour cost

The Cutting Department bases its rate on machine-hours

Given

Machine hours = 80 machine hours

Overhead Rate = $5.5 per machine hours ------ Calculated

The Finishing Department bases its rate on direct labor-hours.

Given

Direct Labour Cost = 150

Overhead Rate = 136% labour cost ------ Calculated

Overhead Applied (Cutting Department) = 80 * 5.5

Overhead Applied = 440

Overhead Applied (Finishing Department) = 136% * 150

Overhead Applied = $204

Total Overhead Applied = $440 + $204

Total = $644

c. Yes

If they use a plantwide rate based on direct labor cost and if the jobs has longer machine hours and small amount of labor cost they will be charged less overhead cost.

6 0

3 years ago

As a manager for your company some of your responsibilities include measuring metrics and overseeing company strategies. You obs

Ilya [14]

Answer:

The primary reason for the large increase in productivity would be the management factor.

Explanation

An important factor that affects the productivity in a company is the management that can have a great influence as good managers that are competent, make a good use of the resources, implement good strategies and develop good relationships with employees generating a good working environment help increase the productivity. According to the question, this is the main reason that can be inferred.

8 0

3 years ago

Tower Inc. owns 30% of Yale Co. and applies the equity method. During the current year, Tower bought inventory costing $66,000 a

Murrr4er [49]

Answer:

the amount deferred by tower as intra-entity gross profit: 3,240

Explanation:

120,000 sales with a cost of 66,000

remains at year-end:

24,000 with a cost of: 66,000/120,000 x 24,000 = 13,200

gross profit: 24,000 - 13,200 = 10,800

For this rgoss profit we are going to deferre the 30%;

10,800 x 30% = 3,240

4 0

3 years ago

In a simple structure where the owner manager makes most of the important decisions, extensive rules and regulations are used to

olganol [36]

A. True, I guess......

7 0

3 years ago