Answer:
Courts Distributors and Eastinghouse Corporation
Dispute over Contract Price
The two parties have a legal contract. The contract was established when Courts requested Eastinghouse to send the refrigerators and bill later.
The exact price for the contract is in dispute. This dispute can be resolved between the parties. Reference to the market price will help resolve the dispute, otherwise, the parties may seek alternative dispute resolutions, like litigation, mediation, or arbitration.
Explanation:
a) Data and Analysis:
Eastinghouse's invoice price for the refrigerators = $140,000
Courts' adopted market price = $120,000
b) Since Courts' reference to the price is with regard to the wholesale market price, it may be that Eastinghouse quoted the retail price instead. Since Courts is a distributor, it has the right to be charged a wholesaler's price and not a retailer's. Therefore, we can conclude that after due reference to the prevailing market price of similar refrigerators, the two parties may agree to a price of $120,000 or a little higher.
Answer:
variable cost per unit 150 dollars
Explanation:
As we aren't provided with a volume. We calculate considering variable costying system which onyl count variable cost as cost of goods manufactured:
raw material $ 75 per unit
labor 5 hours x 14 per hour = $ 70 per unit
variable ovehread $ 5 per unit
Variable cost per unit $ 150 per unit
the fixed overhead cost
5,110 + 3,730 + 1,550 + 6,600 + 8,760 = 25,750
will be considered cost of the period under variable costing
Answer:
The corporation's current income tax expense or benefit would be $86,940.
Note: The Internal Revenue Service (IRS) 2019 tax rate of 21% for corporation is used since the tax rate is not given in the question.
Explanation:
Details Amount ($)
Pretax book income 620,000
Favorable temporary differences (160,000)
Unfavorable temporary differences 106,000
Favorable permanent differences <u> (152,000) </u>
Adjusted income 414,000
Tax expenses (at 21%) <u> (86,940) </u>
Profit after tax <u> 327,060 </u>
Therefore, the corporation's current income tax expense or benefit would be $86,940.
Note: The Internal Revenue Service (IRS) 2019 tax rate of 21% for corporation is used since the tax rate is not given in the question.
The underwriting unit, when considering risk factors for individual and group disability insurance, will review the "carrier history" of the group. The factors might the underwriters consider are stability, longevity, and price shopping.
Some major financial organizations, including banks, insurance companies, and investment firms, offer underwriting (UW) services, in which they guarantee payment in the event of harm or financial loss and accept the financial risk for responsibility resulting from such guarantee.
In a number of circumstances, such as insurance, security concerns in a public offering, and bank loans, an underwriting arrangement may be established. The underwriter is the person or organization that consents to sell a minimum quantity of the company's securities in exchange for a commission.
Once an underwriting agreement has been reached, the underwriter is responsible for the cost of keeping the underlying securities on its books while also taking on the risk of not being able to sell them.
To learn more about underwriting refer to:
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