Answer:
100 athletes
Explanation:
Net amount to realize from each athlete = Scholarship amount - cost = $5,000 - $2,500 = $2,500
Number of athletes needed = Deficit ÷ Net amount to realize from each athlete = $250,000 ÷ $2,500 = 100 athletes.
Therefore, 100 athletes are needed to eliminate the deficit.
Answer:
D. $525,000
Explanation:
budgeted production = 15,000 units/month
unit production time required = 30 minutes => 0.5 hours
direct labor rate = $70 per hour
Budgeted cost of direct labor for the month = 15,000 * 0.5 * 70
= $525,000
A contract clause which specifies the amount of damages to be paid in the event of a breach is called a liquidated damages clause.
When parties are entering into a contractual agreement, certain provisions are catered for in the contract which allows payment of a specified sum should one of the parties be in breach of contract. This is called liquidated damages clause.
The purpose of adding the clause ( liquidated damages clause) is to ensure sure parties to the contract understand and performs their duties accordingly.
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<span>It's false that uncollectible accounts should not be estimated because it is impossible to know which accounts will not be collected. </span>
