Wright Automobiles, a used car dealer, has to purchase soft drinks and snacks for the vending machines in the customer lobby. This buying situation demonstrates a <u>straight rebuy.</u>
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A purchase in which the customer buys the same goods in the same quantity on the same terms from the same supplier.
Modified rebuy is a state of affairs wherein the client makes some adjustments within the order, and it could require some additional analysis or studies. straight rebuy: wherein the client reorders the identical products without seeking out data or thinking about different suppliers.
If your company is upset with a dealer's product and the procurement crew makes modifications to the order, you completed a changed rebuy. There are several motives for agencies to try this new requirement, excessive costs, suppliers, product adjustments, etc.
A buying scenario in which an individual or agency buys goods that have been bought previously, however, adjustments either the provider or a few other elements of the preceding order.
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Answer:
Dr. Work in process $49,500
Dr. Material Quantity Variance $4,500
Cr. Raw material Inventory $49,500
Explanation:
First we need to calculate the Material usage variance
Standard Material = 5,500 cakes x 3 pounds = 16,500 pounds
Standard cost of Standard Material = 16,500 pounds x $3 = $49,500
Actual usage at standard cost = 16,650 pounds x $3 = $49,950
Material usage Variance = $49,950 - $49,500 = $450 unfavorable
When the actual cost incurred is more than the standard cost the variance is unfavorable.
Answer:
The correct answer is:
A term rider on a permanent policy.
Explanation:
A return of premium rider refers to the case when the insured adds some additional clauses to the normal policy for an extra cost. A rider is obtained considering a specific period of time in which the policy would be paid to the beneficiaries in case of death, sickness or disability of the insured person. In case that the insured subject lives more than the pre-established period of time the amount that he paid for the return of premium rider would be given back to him. For example if J pays $50 monthly for a 30 years life term policy and he lives after that period of time, he will receive $18.000 at the end of the contract as a premium return.
