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vovikov84 [41]
2 years ago
6

Markel entered into a contract with Jaylin to paint a portrait for her in consideration of $600. This contract was freely negoti

ated. There was nothing in the terms of the agreement about when Markel had to start on the portrait or how long it should take him to finish. It took Markel a long time to complete the portrait, almost 18 months. Which of the following is true of this contract?
a. It must be in writing because it took longer than one year to complete.
b. It must be in writing because it was for more than $500.
c. It is a unilateral contract.
d. The contract need not be in writing.
Business
1 answer:
Orlov [11]2 years ago
3 0

Answer:

It is a unilateral contract.

Explanation:

A unilateral contract is a type of contract where only one party of the persons involved in the contract agrees to offer something.

In this case, Markel is offering to give Jaylin $600 for her portrait and Jaylin is not giving any specified time of delivery.

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Manufacturing overhead was estimated to be $562,800 for the year along with 20,100 direct labor hours. Actual manufacturing over
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Answer:

$604,800

Explanation:

Applied manufacturing overhead is the manufacturing overhead that has been applied to production in a period.

it is calculated with the formula "budgeted overhead rate * actual labor hr"

Budgeted manufacturing overhead = $562,800

Budgeted Direct labor hours = 20,100

Budgeted Overhead rate = 562800/20100 =$28/hr

Actual manufacturing overhead = $543,705

Actual direct labor hours = 21600

Amount of manufacturing overhead applied = predetermined overhead rate * actual hr =28*21600

=$604,800

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Answer:

Cash provided by operating activities is 89.000

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