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3 years ago

What is not a duty the agent owes the principal?

Business

1 answer:

Likurg_2 [28]3 years ago

7 0

Answer:

superior competence

Explanation:

Superior competence is a skill an agent is expected to display in a resonable manner in any situation.

An agent is a person appointed by the principal and one who links the principal to the third party while principal is someone who appoints an agent to act on its behalf.

An agent is not superior to the principal. In other words, an agent is expected to act reseanably at all times in accordance with the terms of his contract with the principal.

Some of the duties of an agent to his principal are

- reasonable care and skill

-duty not to delegate

-avoid conflict of interest

-act within the scope of powers and authority delegated to him

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The first step in process flowcharting is to__________ A. draw the flowchart. B. break the process down into blocks. C. assemble

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3 years ago

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4 years ago

Read 2 more answers

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3 years ago

Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should tak

Katen [24]

Answer:

Total Overhead Variance $156750 Favorable

Explanation:

Given Data

Byrd Company

Normal production capacity 100,000 units per year

Direct Labor Hours at normal capacity = 100,000

Total budgeted overhead at normal capacity is $1,100,000

Variable costs $400,000

Fixed costs$700,000

Actual Production 71,800 putters

Actual Direct Labor Hours 99,000

Actual Variable Overheads $ 197450

Actual Fixed Overhead Costs $ 734,800

Formulae And Calculations

Predetermined Variable Overhead Rate = Variable Costs / Direct Labor Hours

Predetermined Variable Overhead Rate = $400,000 / $100,000 = $ 4 per hour

Predetermined Fixed Overhead Rate = Fixed Costs / Direct Labor Hours

=$700,000 / $100,000 = $ 7 per hour

Applied Overhead = Applied Variable Costs + Applied Fixed Costs

= $ 4*99,000+ $ 7 *99,000= $ 396,000 + $ 693,000=

Applied Overhead =$ 1089,000

Total Overhead Variance = Actual Overhead - Overhead Applied

Total Overhead Variance =$ 197450+ $ 734,800-$ 1089,000

=932250-$ 1089,000= $156750 Favorable

It is favorable because actual is less than applied.

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3 years ago