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masha68 [24]
3 years ago
5

Sam, the owner of a toy store, dies unexpectedly at the age of 56. His lifelong business associate, Paul, is appointed the admin

istrator of the estate. Sam had a personal debt of $8,000 which he owed to Art's Appliance Store. Paul says to Art, "If there isn't enough money in the estate, I'll personally see that the bill is paid." Which of the following is correct?
a. The oral statement is enforceable because Paul is the administrator.
b. An oral statement such as this is not enforceable because it is outside the Statute of Frauds.
c. An oral statement such as this is not enforceable because it is within the Statute of Frauds.
d. The oral statement is enforceable because it is a collateral promise.
Business
1 answer:
Nostrana [21]3 years ago
3 0

Answer:

b. An oral statement such as this is not enforceable because it is outside the Statute of Frauds.

Explanation:

The statute of frauds (SOF) is a legal concept that requires certain types of contracts to be executed in writing. Among others, these typically include those for the sale of land, of any goods over $500 in value, and contracts of a year or more in length.

The contracts that must adhere to the statutes of fraud are Collateral contracts in which a person promises to answer for the debt or duty of another, or guaranty contracts are required to be written. Prenuptial agreements and promises made in consideration of marriage must adhere to the statute of frauds.

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the loss of producer surplus associated with some sellers dropping out of the market as a result of the tax is
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Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothi
natulia [17]

Answer:

Klean Fiber Company

Incremental Analysis for the Special order of 250,500 units of Y-Go undergarments:

Direct materials                                  $2.04         $511,020

Direct labor                                           0.40          100,200

Variable manufacturing overhead       1.04         260,520

Fixed manufacturing overhead            1.02         255,510

Total costs                                         $4.50      $1,127,250

Fixed manufacturing overhead           1.02          255,510

Incremental costs                             $3.48         $871,740

Explanation:

a) Data:

Full Capacity = 1,031,000

The per unit and the total costs at full capacity for Y-Go:

                                                 Per Undergarment       Total

Direct materials                                  $2.04         $2,103,240

Direct labor                                           0.40              412,400

Variable manufacturing overhead       1.04           1,072,240

Fixed manufacturing overhead            1.44           1,484,640

Variable selling expenses                    0.34            350,540

Totals                                                  $5.26       $5,423,060

b: In her decision to accept or reject the special order for 250,500 units of Y-Go undergarments by the U.S. Army, the Klean Fiber Company will only consider the relevant incremental unit cost of $3.48 and not the whole unit cost of $5.26.  The $3.48 cost excludes the fixed overheads or the selling and administrative expenses.

8 0
3 years ago
The difference between scenario analysis and sensitivity analysis is that:__________
Sergeu [11.5K]

Answer:

C) scenario analysis considers the effect on NPV of changing multiple project parameters.

Explanation:

Scenario analysis is used to determine the effect on the end result if several parameters are changed . Sensitivity analysis on the other hand involves the effect on the end result due to change in one parameter. With regard to net present value, the scenario analysis on the project will based on effects of changing multiple parameters for example how NPV will change due to increase in price of the products sold, changes in inflation rate and changes in corporate taxes.

3 0
3 years ago
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