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GuDViN [60]
3 years ago
14

Patty is a poor college student struggling to work and keep up with her studies. Fred, her uncle, promises to pay Patty support

of $200 per month for the next six months. Although Fred didn't ask her to, she quits her current job in order to devote full time to her studies for the next six months. Fred makes one payment and then stops with no explanation. If Patty sues, what is the likely result?
a. Fred would win, as he did not ask Patty to quit her job.
b. Patty would win, as a contract was formed when Fred promised to pay her the support.
c. Fred would win, as family members cannot sue each other for breach of an oral promise.
d. Patty may win under the doctrine of promissory estoppel.
Business
1 answer:
Arturiano [62]3 years ago
4 0

Answer:

If patty sues, the likely result is:

D. Patty may win under the doctrine of promissory estoppel.

Explanation:

Here, in the given question it is mentioned that Patty is a student who is poor and he is struggling to work and also keep up with her studies inspite of the difficulties.

Her uncle, Fred, promises patty that he will help him in this situation and help her with an amount of $200 per month for the next six months.

Although her uncle, Fred didn't ask her to but patty by herself quits her job so that she gives her maximum time and attention to her studies for the six months in which her uncle was going to help her.

According to what hr uncle promised he gave her the amount which he promised to but this was done for a month and then without saying anything or giving any reason he stopped giving her the amount he promised to.

So, now in this scenario if patty sues the likely result would be:

d. Patty may win under the doctrine of promissory estoppel.

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Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below: Division Queensland New South
Svet_ta [14]

Answer:

1. Quuen Land Division

Margin 6.50%

ROI 11.70%

New South Wale Division Margin

Margin 3.50%

ROI 15.75%

2. New South wale Division

Explanation:

1. Computation for each division's margin, turnover, and return on investment (ROI)

QUUEN LAND DIVISION MARGIN

Using this formula

Margin =Net operating income/Total Sales

Let plug in the formula

Margin =$70,200/ $ 1,080,000

Margin=6.50%

QUUEN LAND DIVISION ROI

First step is to determine the Turnover using this formula

Turnover=Total sales/Average Asset

Let plug in the formula

Turnover= $ 1,080,000 /$600,000

Turnover =1.8 times

Now let determine the ROI using this formula

ROI =Margin * Turnover

Let plug in the formula

ROI=6.50%*1.8

ROI=11.70%

NEW SOUTH WALE DIVISION MARGIN

Margin =$ 83,475 / $ 2,385,000

Margin=3.5%

NEW SOUTH WALE DIVISION ROI

First step is to determine the Turnover using this formula

Turnover=Total sales/Average Asset

Let plug in the formula

Turnover= $ 2,385,000 /$530,000

Turnover =4.5 times

Now let determine the ROI using this formula

ROI =Margin * Turnover

Let plug in the formula

ROI=3.5%*4.5

RO1=15.75%

2. Based on the above calculation the divisional manager that seems to be doing the better job

Is NEW SOUTH WALE DIVISION because the ROI is greater.

3 0
3 years ago
With brick-and-mortar toy stores closing, board game manufacturers expect to have trouble finding as many consumers interested i
Oxana [17]

Answer:

This is how the market for board games would be affected in the explanation below

Explanation:

Because the manufacturers of the board game expect that the demand for their games would experience a decline, they would have to adjust their Production according to the decline. This is going to shift supply curve to the left, because of the decline in the production. Then equilibrium price would then increase as the quantity decreases because of the shift of the supply curve to the left.

3 0
3 years ago
In a catalog a coat was on sale for $65.55 this week. It regularly sells for $77.77. If the sales tax is 6% and shipping is belo
bazaltina [42]

Answer:

$14.96

Explanation:

Shipping and handling charges are attached.

Given: Discounted price= $65.55.

           Regular sales price= $77.77

           Sales tax= 6%.

Now, find the cost of coat after tax.

Cost of coat= 77.77+(77.77\times 6\%)

⇒ Cost of coat= 77.77+ 4.66= \$ 82.43

Adding shipping charges to the cost= 82.43+8.95= \$91.39

Hence, cost of coat after tax and shipping charges= $91.39.

Next finding total cost of coat if sold at discount after tax.

Cost of coat at discounted price after tax= 65.55+(65.55\times 6\%)

⇒ Cost of coat at discounted price after tax= 65.55+ 3.93

⇒ Cost of coat at discounted price after tax= \$ 69.48

Adding shipping charges to the cost of coat= 69.48+6.95=\$ 76.43

Hence, cost of coat at discounted price after tax and shipping charges= $76.43.

Finding saving amount by ordering coat at the sale price or discounted price.

∴ Saving = Total\ cost\ of\ coat\ at\ regular\ price - Total\ cost\ of\ coat\ at\ discounted\ price

Saving= 91.39-76.43= \$ 14.96

Hene, Total saving by ordering coat at the sale price is $14.96

7 0
3 years ago
Project X has cash flows of $8,500, $8,000, $7,500, and $7,000 for Years 1 to 4, respectively. Project Y has cash flows of $7,00
kondaur [170]

Answer:

e. Project X has both a higher present value and a higher future value than Project Y.

Explanation:

The project X cash flows are higher in initial years than of project Y. The present value of project X cash flows will be greater than project Y. The time value of money of project X will be greater than Project Y.

The future value of Project X will also be higher than project Y because it has higher cash flows in earlier years. When future value will be calculated the project X will give the higher Future value than project Y.

4 0
3 years ago
Rida, Inc., a manufacturer in a seasonal industry, is preparing its direct materials budget for the second quarter. It plans pro
Lisa [10]

Answer and Explanation:

The Preparation of direct materials budget for the second quarter is prepared below:-

                                           <u>Rida, Inc., </u>

                             <u> Direct materials budget </u>

                               <u> for the second quarter</u>

<u>Particulars                                             Amount</u>

Units to be produced                             229,000

Material required per unit                      0.6

Material needed for production           137,400

Budgeted Ending Inventory                   63,960

(266,500 units × 0.60 pounds × 40%)

Total material requirements                    201,360

(137,400 + 63,960]

Beginning Inventory                                 (56,500)

materials to be purchased                        144,860

(201,360 - 56,500)

material Price per pound                           $179

Budgeted Cost of Direct

material purchases                                  $25,929,940

(144,860 × $179)

Here we assume 0.60 pounds of a key raw material instead of 613 pounds.

8 0
3 years ago
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