Answer: disaffirm
Explanation:
most cases, whether the contract has not yet been performed (an executory contract) or has been fully performed (an executed contract), the minor may disaffirm the contract.
It should be noted that a contract that is signed by a minor unless in some rare exceptions is normally void and therefore, the minor can disaffirm the contract.
Answer:
Please see attached solution
Explanation:
a. Total manufacturing overhead costs allocated $356,400
b. Variable manufacturing overhead spending variance $40,500U
c. Fixed manufacturing overhead spending variance $17,600U
d. Variable manufacturing overhead efficiency variance $19,500F
e. Production volume variance $39,200F
Please find attached detailed solution to the above questions
The formula for calculating elasticity is: Price Elasticity of Demand=percent change in quantitypercent change in price Price Elasticity of Demand = percent change in quantity percent change in price .
The inventory level will be used by an inventory
manager to regulate the optimal time for manufacturing, if they are handling
a manufacturer's warehouse, or to demand more if the product is being stored as
stock at a store.
To solve this:
Get first the Current Assets this solved by multiplying the
current liabilities to the current ratio.
CA = $500 (1.5) = $750
Then get the inventory level by multiplying the current
asset to the product of the current liabilities and quick ratio.
Inventory level = $750 (500 x 1.1) = $412,500
Answer:
a. decrease of $18,000
Explanation:
The calculation of overall effect on the company's monthly net operating income is shown below:-
<u>Particulars Current Proposed
</u>
Sales $800,000 $837,000
($200 × 4,000) (200 - 14) × (4,000 + 500)
Variable
expenses $160,000 $180,000
(40 × 4,000) (40 × (4,000 + 500))
Contribution
margin $640,000 $657,000
Fixed
expenses $531,000 $566,000
($531,000 + 350,00)
Net operating
income $109,000 $91,000
Decrease in net operating income is
= $109,000 - $91000
= $18,000