Answer:
The amount of net revenues for Eric Company is 780,000
Explanation:
Net revenue is the sales (or total revenue) of a company from which returns, discounts, and other items are subtracted from.
Net revenue is calculated by following formula:
Net Revenue = Gross Revenue – Directly Related Selling Expenses (These are: Sales Returns, Sales Discounts....)
Eric Company has the data: Total Revenues 860,000
, Sales Returns and Allowances 50,000
, Sales Discounts 30,000
Net revenues for Eric Company = 860,000 - (50,000 + 30,000) = 860,000 - 80,000 = 780,000
Answer:
win, because Pamela's misrepresentation was not a material fact and did not increase Forever Young's risk in insuring Pamela's life.
Explanation:
A material fact is defined as the rationality of a person making a decision that is important as opposed to one that is trivial or unimportant. It is a fact that if suppressed would have led to a different decision in a particular situation.
Paula will most likely win the case because the lack of disclosure by Pamela of when she had an infected hang-nail removed and her toe treated cannot be linked by a reasonable person to a brain aneurysm.
This lack disclosure would not have increased the risk of Forever Young in Pamela's life insurance.
Answer:
Investigate the production costs incurred and the mix and yield of the product
Explanation:
The Variance lies in the <em>Price/Cost</em> and <em>Usage</em>. Therefore to correct the problem, Investigate the <em>production costs incurred</em> and the <em>mix and yield of the product</em>.
Answer: Unearned warranty revenue
Explanation:
Unearned warranty revenue is usually shown as an unearned revenues in the accrued liabilities during the preparation of the balance sheets.
It should be noted that the unearned warranty revenue is a characteristic of both the sales approach for service-type warranties and the expense approach for assurance-type warranties.
Answer:
C. the production order quantity model does not require the assumption of instantaneous delivery.
Explanation:
EOQ refers to Economic Order Quantity method, this method particularly aims at 0 extra inventory in hand and keeping the total inventory in hand which is needed and then there is n assumption that the goods shall be delivered instantly.
Under the production order quantity model the model is made to calculate the quantity to be ordered for meeting the demand of production units.
This aims at the minimum order quantity to be delivered to meet the production needs.
