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3 years ago

Larry is a minor, age 16 years old.

Business

1 answer:

maxonik [38]3 years ago

4 0

Answer:

What is entirely true about this contract is:

The contract is a VALID contract but is also a VOIDABLE contract on the part of Larry but NOT on the part of Sprint.

Explanation:

As a minor, Larry (he was under the age of 18 when he signed the contract with Sprint) lacks the contractual capacity to enter into the contractual relationship with Sprint. But since he has signed the contract in exchange for the purchase of the cell phone, Larry can either honor the deal or void the contract. This is why the contract is said to be valid but voidable at Larry's behest. However, after Larry has turned 18, if he has not done anything to void the contract, then the contract with Sprint can no longer be voided.

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Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the be

Dominik [7]

Answer:

Baab Corporation

a. Schedule of cost of goods manufactured:

Beginning work in process $ 27,850

Direct raw materials 280,150

Direct labor 377,850

Manufacturing overhead 297,279

Ending work in process ($ 9,850)

Cost of goods manufactured $973,279

b. The overhead was underapplied (by $9,121).

Explanation:

a) Data and Calculations:

Beginning Ending

Raw materials $ 14,850 $ 22,850

Work in process $ 27,850 $ 9,850

Finished Goods $ 62,850 $ 77,850

Estimated machine hours = 33,850

Manufacturing overhead cost = $294,495

Predetermined overhead rate = $294,495/33,850 = $8.70 per mh

Raw materials purchase $315,850

Raw materials used for production $307,850

Direct raw materials $280,150

Indirect raw materials $27,700

Direct labor$377,850

Indirect labor, $96,850

Administrative salaries, $172,850

Selling costs, $147,850

Factory utility costs, $10,850

Depreciation:

Factory Depreciation $171,000

Selling, general, and admin. $7,000

Total for the year was $178,000

Actual level of activity for the year = 34,170 machine hours

Sales for the year = $1,315,000

Manufacturing Overhead:

Indirect raw materials $27,700

Indirect labor, 96,850

Factory utility costs, 10,850

Factory Depreciation 171,000

Total overhead incurred $306,400

Overhead applied 297,279

Underapplied overhead $9,121

5 0

3 years ago

On January 1, the first day of its fiscal year, Pretender Company issued $12,700,000 of five-year, 11% bonds to finance its oper

yarga [219]

Answer:

1) Debit Bank $11787069 Debit bond discount $912931 ; Credit Bond $12700000

2) Debit Interest expense $751293 ; Credit Bank $660,000 Credit Discount on Bond payable $91293

3 )Debit interest expense $ 751293 ; Credit bank 660000, Credit discount on bond payable $91293

b)Interest expense = $1502586

c)It is because a financial crisis might have happened prior to issuing the bond and the company still went ahead with issuing even though the rate has changed.

Explanation:

interest expense = 12000000 * 0.11 * 6/12=$660000

discount on bond payable = $912931 /5 = 182586 /2= 91293

Interest expense = $751293 * 2 = $1502586

7 0

3 years ago

In case of an emergency, once you or someone already on the scene has contacted 9-1-1, the next thing to do is: A) Move them to

Lostsunrise [7]

D check for a heartbeat

4 0

3 years ago

Baker’s Financial Planners purchased seven new computers for $970 each. It received a 20% discount because it purchased more tha

yawa3891 [41]

Answer:

Check: 5,269.04

Explanation:

We will multiply each computer by the list price. Then, apply the order discount of 20%. Finally the invoice discount of 3% for payment within 10 days

7 computer x 970 dollars each = 6,790

20% Discount for quantity:

6,790 x 20% (1,358)

Invoice nominal: 5,432

discount within the first 10 days:

5,432 x 3% (162.96)

final amount: 5,269.04

4 0

3 years ago

ICHOR Restaurant Group was started by Brian Bailey and Tim Hug in 2006 and has since opened three successful restaurant concepts

Margaret [11]

Answer:

franchising

Explanation:

According to my research on different business strategies, I can say that based on the information provided within the question Entrepreneurs purchasing such a license are engaging in franchising. This is when the owner of a brand licenses the name to a specific individual so that individual can open up his/her own store using that name and reputation. These licenses come with certain requirements placed by the owner of the brand that the buyer must follow.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0

3 years ago