All categories

2 years ago

The real estate contract for a specific property for use as an unlicensed petroleum sales operation was forced to terminate.

Business

1 answer:

motikmotik2 years ago

8 0

Answer: A. Impossibility of performance

Explanation:

Impossibility of contract is a doctrine where by a contract is rendered invalid on the bases of uncontrollable circumstances which renders performance of contract impossible. Impossibility of performance can be difficult to prove.

You might be interested in

Lopez Corporation incurred the following costs while manufacturing its product Materials used in product Depreciation on plant P

kirill [66]

Answer:

The missing data of this question is reproduced as follows;

Materials Used 128,900

Depreciation on plant 63,400

Property taxes on store 8,280

Labor cost of assembly workers 114,800

Factory supplies used 32,100

Advertising expense 55,800

Property taxes on plant 23,100

Delivery expense 24,800

Sales commission 43,600

Salaries paid to sales clerk; 60,400

Explanation:

Cost of Goods Manufactured

Materials Used 128,900

Depreciation on plant 63,400

Property taxes on plant 23,100

Labor cost of assembly workers 114,800

Factory supplies used 32,100

WIP Beginning 14,200

Less;WIP closing (16,900)

Cost of Goods Manufactured 359,600

Cost of Goods Sold

Opening Finished Goods 63,300

Cost of goods manufactured 359,600

Less; Closing Fininsed goods (48,200)

Cost of Goods Sold 374,700

5 0

3 years ago

10. A country would place a tariff on imported steel to A. increase the standard of living for all citizens in the country. B. m

vagabundo [1.1K]

C is correct.
As a result of a tariff, prices for domestic steel consumers go up so D is false. Option B is false because it does not make the market fair for everyone as now domestic producers can charge a higher price since foreign competition is being excluded. Since B, D are false it would make sense that A is also untrue as consumers are now suffering while it is the producers who benefit.

5 0

3 years ago

Read 2 more answers

Eight methods for improving intercultural communication

Phoenix [80]

Hi there! I know you asked for eight methods but I can only think of five methods. The first method would be to be aware of your own country. The second method is to become and or think like a learner. The third method is get mystical as in get curios. It's like think. The fourth method is to listen. And the last but not least. The fifth method is look at different cultures.

5 0

3 years ago

Read 2 more answers

What is the impact of Corona virus as one of the socio economic issues on businesses

Anna71 [15]

Answer:

The CO.VID-19 pandemic produced a wide variety of types of effects worldwide, especially from spring 2020. Many people got sick and died from CO.VID-19. The fear that they themselves or people for whom they feel responsible would share this fate seized the population, scientists and politicians worldwide. There was a need for action from the development of the number of newly infected and deceased, from the economic crisis 2020/21, from a problematic development of social structures, from psychological stress on the Individuals and from further effects. In addition to concerns about people's lives and health and the resilience of the economy, there was also concern that the population could be deprived of basic rights for longer than justified by the pandemic.

5 0

3 years ago

Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for

stellarik [79]

Answer:

Winslow Inc.

a. No. I do not agree with management's decision and conclusions. Eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

b. Variable Costing Income Statements:

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000 $2,185,000

3 Variable costs:

Cost of goods sold 284,500 248,400 298,500 831,400

Selling and administrative 293,100 175,500 216,000 684,600

Total 577,600 423,900 514,500 1,516,000

4 Gross profit $272,400 $276,100 $120,500 $669,000

5 Fixed costs:

Cost of goods sold 128,500 90,300 120,500 339,300

Selling & administrative 95,900 82,400 143,500 321,800

Total 224,400 172,700 264,000 661,100

6 Income (Loss) from $48,000 $103,400 $(143,500) $7,900

c. Eliminating the line only eliminated the variable costs of goods sold and selling and administrative expenses. The fixed costs were not changed with the elimination. Therefore, eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

Explanation:

a) Data and Calculations:

Winslow Inc.

Product Income Statements—Absorption Costing

For the Year Ended December 31, 20Y1

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000

3 Cost of goods sold 413,000 338,700 419,000

4 Gross profit $437,000 $361,300 $216,000

5 Selling & administrative

expenses 389,000 257,900 359,500

6 Income (Loss) from $48,000 $103,400 $(143,500)

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000 $2,185,000

3 Variable costs:

Cost of goods sold 284,500 248,400 298,500 831,400

Selling and administrative 293,100 175,500 216,000 684,600

Total 577,600 423,900 514,500 1,516,000

4 Gross profit $272,400 $276,100 $120,500 $669,000

5 Fixed costs:

Cost of goods sold 128,500 90,300 120,500 339,300

Selling & administrative 95,900 82,400 143,500 321,800

Total 224,400 172,700 264,000 661,100

6 Income (Loss) from $48,000 $103,400 $(143,500) $7,900

Eliminating the running shoe line:

1 Cross Training Golf Shoes Total

2 Revenues $850,000 $700,000 $1,550,000

3 Cost of goods sold:

Variable costs 284,500 248,400 532,900

Fixed costs 128,500 90,300 339,300

Total 413,000 338,700 872,200

4 Gross profit $437,000 $361,300 $677,800

5 Selling & administrative expenses:

Variable costs 293,100 175,500 468,600

Fixed costs 95,900 82,400 321,800

Total 389,000 257,900 790,400

6 Income (Loss) from $48,000 $103,400 ($112,600)

3 0

2 years ago