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Softa [21]
3 years ago
9

Omni Metals Company and Piecework Fabrication, Inc., enter into a contract under which Omni agrees to deliver a certain quantity

of sheet metal to Piecework each month. The contract does not include a price term. In a suit between the parties over the price, a court will
Business
1 answer:
levacccp [35]3 years ago
4 0

Answer:

A) determine a reasonable price.

Explanation:

Since in the question it is mentioned that there is a contract between the omni metal and piece work. In that Omni agrres to deliver the particular quantity each month but it does not involve the price term so here the courl will determine the reasonable price as for every time of contract the quantity and the price should be specified before entering into a contract so that according to this both the parties could enter or not enter in a contract

Therefore the option A is correct

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Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct
FinnZ [79.3K]

Answer:

Total materials variance = (Actual quantity * Actual price) - (Standard quantity * Standard price)

= 2,850 - (230 * 14.4)

= 462 (Favourable)

Materials price variance = (Standard price - Actual price) * Actual quantity

= [1.8 - (2,850/1,500)] * 1,500

= 150 Unfavourable

Materials quantity variance = (Standard quantity - Actual quantity) * Standard price

= [(230 * 8) - 1,500] * 1.8

= 612 Favourable

Total labour variance = (Actual hours * Actual rate) - (Standard hours * Standard rate)

= 19,458 - (230 * 84)

= 138 Unfavourable

Labour price variance = (Standard rate - Actual rate) *  Actual hours

= [14 - (19,458/1,410)] * 1,410

= 282 Favourable

Labour quantity variance = (Standard hours - Actual hours) * Standard rate

= [(230 * 6) - 1,410] * 14

= 420 Unfavourable

6 0
3 years ago
The financial reporting for private not-for-profit entities primarily focuses on: Multiple Choice basic information for the orga
Romashka [77]

Answer: basic information for the organization as a whole.

Explanation:

Private Not-for-profit organization as the term implies, are not operating to make a profit therefore their financial statements will generally not include measures that are aimed at showing profit like profit making organizations.

They will instead focus on talking about the entire organization as whole and what it has done so far in the current period. This is what is required of them by U.S. GAAP.

7 0
3 years ago
If the sender in a nonpersonal, paid promotion is identified, we define it as advertising. if the sender is not readily identifi
Ronch [10]
If the sender is not readily identified, we label it propaganda.
Usually, propaganda is used to advertise political causes, and to persuade you into believing that particular promotion. They want you to join them, and to follow their leader, which is why they are promoting their own causes, whilst not identifying themselves. 
4 0
3 years ago
A. M&R Company provided $2,000 in services to customers that are expected to pay the company sometime in January following t
AleksAgata [21]

Answer and Explanation:

The Journal entries are shown below:-

a. Accounts receivable Dr, $2,000  

          To Service revenue $2,000

(Being service revenue is recorded)

b. Wages expenses Dr, $1,000  

          To Wages payable $1,000

(Being wage expenses is recorded)

c. Interest expenses Dr, $400  

    To Interest payable $400

(Being interest expenses is recorded)

d. Lawn service expenses $500  

    To Accounts payable $500

(Being lawn service expenses is recorded)

e. Interest receivable $200  

     To Interest revenue $200

(Being interest revenue is recorded)

f. Salaries expenses $900  

     Salaries payable $900

(Being salary expenses is recorded)

3 0
3 years ago
The reasons why a company opts to expand outside its home market include all of the following EXCEPT:
hram777 [196]

Answer:

E. identifying resources and capabilities in the company's home market.

Explanation:

Expanding into international markets gives a company access to new markets, thereby increases the number of its customers. The company will have to increase its production to cater to a large number of customers.  Bulk production results in the company enjoying economies of scale.

For a company to enjoy to consider international markets, it must have already identified its capabilities in the domestic market. The reason for seeking foreign markets if to fully exploits its existing capabilities and resources. Expanding to international markets involves building on the already identified resources and abilities.

8 0
3 years ago
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