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AysviL [449]
3 years ago
5

For seven years, Stanford Owens has run a successful practice that helps small businesses file their taxes, become incorporated,

and perform other legal tasks. Stanford moves his practice to NYC, and is happy to find his first local client, DiggyWerx, almost immediately. They negotiate a flat fee of $5,500 for six months of Stanford's services. A month later, Stanford is more familiar with the local business landscape and realizes that most people offering his services in NYC charge around $13,000 for six months of work because of the higher costs to do business in NYC. Is the deal between Stanford and DiggyWerx enforceable?
a. No, because it is unconscionable due to the difference in bargaining power.b. No, because there is insufficient consideration.c. Yes, because Stanford is still receiving a fair price for his services.d. Yes, because Stanford and DiggyWerx each receive a benefit and incur a detriment.
Business
1 answer:
Shalnov [3]3 years ago
6 0

Answer:

The answer id: D) Yes, because Stanford and DiggyWerx each receive a benefit and incur a detriment.

Explanation:

Both Stanford and DiggyWerx both receive a benefit from this contract; Stanford gets $5,500 and DiggyWerx gets accounting services for six months.

They both also incurred detriment since; Stanford promised to perform his accounting duties and DiggyWerx promised to pay him money.

Both parties incurred detriment (promised to do something) and something of value is exchanged benefiting both parties, so consideration exists and therefore the control is enforceable.

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A marketing company wants to estimate the proportion of consumers in a certain region of the country who would react favorably t
Sindrei [870]

The closest to the minimum number of consumers needed to obtain the estimate with the desired precision is (b) 271

Explanation:

When the prior estimate of population proportion is not given , then the formula to find the sample size is given by :-

n=0.25(\frac{z^{*} }{E} )^{2}

where E = Margin of error.

z* = Critical z-value.

As per given , we have

E = 5%=0.05

Confidence level = 90%

The critical value of z at 90% is 1.645  (By z-table)

Put all values in the formula , we get

n=0.25(1.645/0.05)²

n=0.25(32.9)²

n=270.6025≈271

Thus, the minimum sample size needed = 271

Hence , the correct answer is 271 .

8 0
3 years ago
Teagan Company uses Departmental Overhead allocation to allocate its manufacturing overhead costs. It has identified two​ depart
Sunny_sXe [5.5K]

Answer:

Machining:

Allocated MOH= $603

Assembly:

Allocated MOH= $450

Explanation:

Giving the following information:

Machining:

Allocates overhead using machine-hours

Estimated manufacturing​ overhead: ​ $670,000

Estimated machine-hours= 10,000

Assembly:

Allocates overhead using direct labor hours.

Estimated manufacturing​ overhead: ​$450,000

Estimated direct labor hours= 15,000 hours

First, we need to calculate the estimated manufacturing overhead rate for each department:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machining:

Estimated manufacturing overhead rate= 670,000/10,000= $67 per machine hour

Assembly:

Estimated manufacturing overhead rate= 450,000/15,000= $30 per direct labor hour.

Job​ 601:

Machining​ Department: 9 Machine Hours

Assembly​ Department: 15 DL hours

To allocate overhead we use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Machining:

Allocated MOH= 67*9= $603

Assembly:

Allocated MOH= 30*15= $450

5 0
3 years ago
Three aspects in the cover page of a business plan
BARSIC [14]

Answer:

Explanation:

Your business plan cover page should include:

Your company logo.

Document title and business name.

Business address and contact information.

Business plan completion date.

Confidentiality statement.

6 0
3 years ago
Sheffield Corp. makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Bud
FinnZ [79.3K]

Answer:

How much is the total budgeted variable selling and administrative expenses for October?

  • $17,150

Explanation:

                                  Variable Cost          Fixed Cost        Total costs

                                  <u>   Per Unit        </u>        <u>                    </u>       <u>for 7,000 units</u>

Sales commissions        $0.60                     $7,000              $11,200

Shipping                          $1.20                                                $8,400

Advertising                     $0.30                                                $2,100

Executive salaries                                       $34,000           $34,000

Depreciation                                                  $8,000             $8,000

<u>Other                              $0.35                    $28,000           $30,450</u>

TOTAL                            $2.45                    $77,000            $94,150

How much is the total budgeted variable selling and administrative expenses for October?

total variable costs per unit = $2.45 x 7,000 units = $17,150

6 0
3 years ago
Should I still Go?
german
If the date of the appointment has been rescheduled, it's only logical not to show up on the day it was moved. Go to the appointment next week.
7 0
2 years ago
Read 2 more answers
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