Has Coronvirus affected what you buy? Why or why not?

Oriole Family Instruments makes cellos. During the past year, the company made 6,630 cellos even though the budget planned for o

Setler [38]

Answer:

Direct Labor rate Variance $ 24840 Unfavorable

Labor Efficiency Variance $23520 favorable

Explanation:

Direct Labor rate Variance = Actual Hours * Actual Rate- Actual Hour * Standard Rate

Direct Labor rate Variance = 24840*15- 24840*14

= 372600- 347760

= $ 24840 Unfavorable

Labor Efficiency Variance = Actual Hours * Standard Rate- Standard Hour * Standard Rate

Labor Efficiency Variance = 24840*14- 4*6630*14

= 24840*14- 26520*14

= 347760 - 371280= $23520 favorable

7 0

3 years ago

D.v.g. (a minor) was injured in a one-car auto accident in hoover, alabama. the vehicle was covered by an insurance policy issue

diamong [38]

Answer:

Yes, the court ruled in favor of D.V.G.'s mother, because of the principle that contracts entered by minors are not void, but voidable, and that they do have an effect on the parties, but if voided, they cannot be enforced.

In this case, the minor died before the contract was ratified by the court, but the minor hadn't voided the contract, so it was still good at the moment of his death. The minor had the chance of either approving or rejecting the contract while still living, and decided not to revoke it.

Explanation:

NATIONWIDE MUTUAL INSURANCE COMPANY and State Farm Mutual Automobile Insurance Company v. Barbara Walker WOOD, as administratrix of the estate of D.V.G., a minor, deceased, and K.C.T., a minor, by and through Earnest T., his father and next friend. 1111486. Decided: February 22, 2013

As this Court has stated, <em>“ ‘[i]t is well settled by the authorities that infants are not liable on any of their contracts, except for necessaries. With the exception, all other contracts of infants, whether executory or executed, may be avoided or ratified at the election of the infant.’ ”</em>

The final ruling was:

<em>"Under Alabama law, an insurance company is bound to a settlement agreement negotiated on behalf of an injured minor, even if that minor dies before the scheduling of the court hearing that all parties agreed was necessary to obtain approval of the settlement agreement. In accordance with the parties' understanding, such a hearing is still required, and the minor's death does not render that hearing impossible. We thus answer in the affirmative the question certified to this Court."</em>

6 0

3 years ago

Because services are inseparable, they cannot be tried before they are purchased. To counteract this, a service firm might:

Marina CMI [18]

Answer:

A, Offer a guarantee for the customer's complete satisfaction.

Explanation:

SInce services are inseperable beacuse there cannot be trials unlike in some goods, the only way to keep a customer's mind at rest over the service he or she is getting to give a guarantee as to the quality of the service such that the customer is satisfied and can purchase the service.

For example, giving a customer a time frame for the durability of a service and also a consideration for re-service before the set or supposed time is a way of giving customer guarantee about a service he or she is purchasing

.

Cheers.

3 0

3 years ago

Quiz DAFCO

dimaraw [331]

Question Completion:

Show the effects of the transactions on the accounting equation.

Answer:

DAFCO

Jan. 1:

Assets (Bank +Sh800,000) = Liabilities + Equity (Common Stock +Sh800,000)

Assets (Bank -Sh200,000 Cash +Sh200,000) = Liabilities + Equity

Jan. 2:

Assets (Bank -Sh70,000 Inventory +Sh70,000) = Liabilities + Equity

Jan 3:

Assets (Furniture +Sh25,000 Cash -Sh25,000) = Liabilities + Equity

Jan. 3:

Assets (Equipment +Sh75,000) = Liabilities (Accounts payable +Sh75,000) + Equity

Jan. 4:

Assets (Cash +Sh100,000) = Liabilities + Equity (Retained Earnings +Sh100,000)

Jan. 5:

Assets (Inventory +Sh200,000 Bank -Sh200,000) = Liabilities + Equity

Jan. 6:

Assets (Motor Van +Sh210,000 Bank -Sh210,000) = Liabilities + Equity

Jan. 10:

Assets (Bank +Sh500,000) = Liabilities (Bank Loan +Sh500,000) + Equity

Jan. 12:

Assets (Accounts Receivable +Sh75,000) = Liabilities + Equity (Retained Earnings +Sh75,000)

Jan. 16:

Assets (Bank +Sh100,000) = Liabilities + Equity (Retained Earnings +Sh100,000)

Jan. 30:

Assets (Cash -Sh10,000) = Liabilities + Equity (Common Stock -Sh10,000)

Explanation:

The accounting equation indicates that Dafco's assets are equal to its liabilities plus equity. This equation is the basis of the double-entry system of accounting. It is always in balance with each transaction whenever the correct postings are made into the correct accounts.

5 0

2 years ago

Inception is the initial short step to establish a common vision and basic scope for the project.

exis [7]

Answer:

true

Explanation:

Things to consider in the inception stage are the vision of the project, the feasibility of the project, cost estimate and if the project should be undertaken.

some of the steps taken in the inception stage includes:

the analysis of the critical non-functional requirement

the creation of a business case,

Preparation for the elaboration phase

8 0

3 years ago