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lisabon 2012 [21]
2 years ago
5

A minor bought an Ernie Banks baseball card from a baseball card store. The card was marked $12, and the inexperienced clerk who

sold it did not know the store owner, who was gone at the time of the sale, meant it to be sold for $1,200. Can the owner get the card back because of the minor’s lack of capacity? Why?
Business
1 answer:
krok68 [10]2 years ago
4 0

Answer: No. The owner cannot get the card back because of the minor’s lack of capacity

Explanation:

From the information given, we are told that a minor bought a baseball card from a baseball card store for $12, even though the price was $1,200.

It should be noted that the owner cannot get the card back based on the minor’s lack of capacity. In this case, the idea is to protect the minor, therefore the minor who bought the baseball card is the one that can disaffirm or cancel the contract. In this case, the adults are bound to the contract.

The baseball card will only be gotten if the minor wishes to give it back.

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g Bumblebee Company estimates that 379,500 direct labor hours will be worked during the coming year, 2020, in the Packaging Depa
wel

Answer:

Explanation:

Given that :

Bumblebee Company estimates that 379,500 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.

Fixed Overhead Costs                        Variable Overhead Costs

Supervision              $94,440            Indirect labor              $174,570          

Depreciation             73,320              Indirect materials          75,900

Insurance                   25,560            Repairs                            53,130

Rent                            21,120              Utilities                            94,875

Property taxes            20,880           Lubricants                       37,950

                               $235,320                                                 $436,425

It is estimated that direct labor hours worked each month will range from 24,900 to 36,900 hours.

During October, 24,900 direct labor hours were worked and the following overhead costs were incurred.

Fixed overhead costs: Supervision $7,870, Depreciation $6,110, Insurance $2,095, Rent $1,760, and Property taxes $1,740.

Variable overhead costs: Indirect labor $12,544, Indirect materials, $4,500, Repairs $3,406, Utilities $6,545, and Lubricants $2,740.

The objective is to prepare a monthly manufacturing overhead flexible budget for each increment of 4,000 direct labor hours over the relevant range for the year ending December 31, 2020. (List variable costs before fixed costs.)

The monthly manufacturing overhead flexible budget can be computed as

follows:

                                       Bumblebee Company

                                      Packaging Department

                     Monthly manufacturing overhead  Flexible

                     Budget For the year  ended December 31,2017

Particulars                           Operating Capacity(Direct Labor Hours)

                                          24900            28900        32900       36900

Variable Factory -

Overhead Costs :

Indirect labor                      11454              13294          15134          16974

Indirect materials                4980              5780          6580           7380

Repairs                                3486              4046          4606           5166

Utilities                                6225               7225          8225          9225

Lubricants                           2490               2890          3290          3690

<u>Total Variable Factory-                                                                                 </u>

<u>Overhead Cost                28635               33235        37835       42435  </u>

Fixed Factory -

Overhead Cost :

Supervision                      7870              7870             7870         7870

Depreciation                     6110               6110              6110          6110

Insurance                          2130              2130              2130         2130

Rent                                   1760              1760              1760         1760

Property Taxes                 1740              1740              1740          1740

<u>Total Fixed Factory -                                                                                </u>

<u>Overhead Cost:              19610           19610             19610       19610  </u>

<u>Total Factory -                                                                                           </u>

<u>Overhead Cost (A+B)    48245           52845           57445     62045  </u>

8 0
3 years ago
Sheen Awnings reported net income of $90 million. Included in that number were depreciation expense of $3 million and a loss on
Serggg [28]

Answer:

The Sheen’s cash flows from operating activities is $95 million

Explanation:

Cash flows from operating activities :

The cash flow from operating activities includes all those activities which are of short term period. Like changes in working capital or we can say increase in currents assets or decrease in current assets or increase/decrease in current liabilities.

The increase in current liabilities increase the cash balance, hence it is added and decrease in current liabilities decrease the cash balance. But in the case of current asset, it is opposite.

The depreciation expense and loss on sale of equipment is added. So, we take them in the computation part.

The cash flow from operating activities is equals to

= Net income + depreciation expenses + loss on sale of equipment - increase in accounts receivable +  increase in accounts payable - increase in inventory

= $90 + $3 + $2 - $1 + $4 - $3

= $95 million

Hence, the Sheen’s cash flows from operating activities is $95 million

8 0
3 years ago
Fontaine and Monroe are forming a partnership. Fontaine invests a building that has a market value of $362,000; the partnership
Sveta_85 [38]

Answer:

$362,000 building and $231,000 in Fontaine's capital account

Explanation:

Fontaine and Monroe are forming a partnership

Fontaine invests a building that has a market value of $362,000

The partnership assumes responsibility of $131,000 note

Monroe invests $106,000 in both cash and equipment

The market value is $81,000

Therefore, since the building has a market value of $362,000 then, the amount that is recorded for the building is $362,000

The amount recorded for Fontaine's capital account can be calculated as follows

= $362,000-$131,000

= $231,000

Hence the amount recorded in the building and Fontaine's capital account is $362,000 and $231,000 respectively

8 0
3 years ago
Which of the following statements is not true concerning Peter Jackson's use of computer-generated imagery in The Lord of the Ri
Sonbull [250]

Answer:

c

Explanation:

I believe its C due to the fact. stunt doubles are actual individuals. or they would just have the actor be edited instead of placing a digital stunt double.

6 0
2 years ago
Which country use tax brackets as part of their tax system?
zmey [24]
Canada, Australia, & South Africa are all of the countries that use tax brackets as part of their tax system
8 0
3 years ago
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