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3 years ago

Consensus ad idem means which of the following?

Business

2 answers:

Rashid [163]3 years ago

4 0

The correct answer is A. Meeting of minds.

Explanation

Consensus ad idem is a Latin term that literary means "meeting of the minds", this phrase refers to the agreement or consensus between parties. This term is generally applied to contracts, where both parties must accept and propose certain conditions for the contract to develop well. This consensus must be between both parties because in case this does not occur, one of the parties may be forced by a court to act to repair the breach. So, the correct answer is A. Meeting of minds.

svet-max [94.6K]3 years ago

3 0

Answer: A . Meeting of the minds

Explanation:

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Write a persuasive essay on "Why We Should Start a Family Business?"

lesantik [10]

Honestly you should answer this one yourself it seems like a question that contains your own answer

4 0

3 years ago

A sporting goods manufacturer budgets production of 45,000 pairs of ski boots in the first quarter and 30,000 pairs in the secon

Alexandra [31]

Answer:

The budgeted materials need in kg. in the first quarter is 90,000 kg

Explanation:

For computing the budgeted material needed in the first quarter, first we have to calculate the consumption of first and second quarters separately, so that we can arrive to a solution.

The consumption of first quarter = Budgeted production × required kg

= 45,000 × 2

= 90,000 kg

The consumption of second quarter = Budgeted production × required kg

= 30,000 × 2

= 60,000 kg

The ending raw material inventory = 30% of second quarter

= 30% × 60,000

= 18,000 kg

Now put the formula to find out the purchase amount. The formula is shown below:

Raw material consumption = Opening raw material inventory + purchase of raw material - ending raw material inventory

where,

beginning inventory = 18,000 kg

90,000 = 18,000 + purchase - 18,000

So, the purchase is 90,000 kg

The question has asked the amount in kg so cost per kg is irrelevant.

Hence, the budgeted materials need in kg. in the first quarter is 90,000 kg

3 0

4 years ago

Blue Co. had the following first-year amounts related to its $12,000,000 construction contract: Actual costs incurred and paid $

IrinaVladis [17]

Answer:

$900,000

Explanation:

The computation of the total amount excluding cash is shown below:

But before that following calculations need to be done

% completion during the year is

= $3,000,000 ÷ ($3,000,000 + $6,000,000)

= 33.3333%

Now Total revenue to be recognized for the year is

= $12,000,000 × 33.33333%

= $4,000,000

Profit for the year is

= $4,000,000 - $3,000,000

= $1,000,000

Now Accounts receivables at the end of year is

= Billings - Collection

= $3,500,000 - $3,100,000 = $400,000

Now Cost and profits in excess of billings

= ($3,000,000 + $1,000,000) - $3,500,000

= $500,000

And, finally Total amount of current assets to be recognize at year end is

= $400,000 + $500,000

= $900,000

3 0

3 years ago

When direct labor employees contribute to the production process, the cost of their labor is recorded by debiting: O Wages Expen

lutik1710 [3]

Answer:

The correct answer is letter "C": Work in Process Inventory.

Explanation:

Work in Process Inventory is an asset in the company's Balance Sheet. It represents the accumulated cost of unfinished goods that are currently in the manufacturing process. Companies that manufacture large or customer-made items typically use a work in progress inventory system to record labor, raw material, and overhead.

6 0

3 years ago

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 I

SSSSS [86.1K]

Answer:

<u>cost of goods manufactured schedule</u>

Raw Materials ($9,180 + $55,020 - $17,480) $46,720

Direct Labor $51,740

Manufacturing overheads :

indirect labor $6,510

factory insurance $4,700

machinery depreciation $4,380

machinery repairs $1,990

factory utilities $3,740

miscellaneous factory costs $1,980

Add Opening Work In Process $5,670

Less Closing Work In Process ($7,610)

Cost of goods manufactured $119,800

Explanation:

Cost of goods manufactured schedule shows a summary of results (cost) obtained from manufacturing activity during the production period.

7 0

3 years ago