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Serjik [45]
3 years ago
9

Kevin purchased a lawn mower. The blades were so dull that the mower could not cut the grass in his backyard. Due to the existen

ce of _____ warranties, Kevin can return the mower and expect to receive a replacement that will cut grass.
Business
1 answer:
tamaranim1 [39]3 years ago
7 0

Answer:

implied

Explanation:

Warranty is an assurance that a product will do the work for which it was intended and be of the same quality and grade like others of its class received by a buyer of a product from the seller whether expressly stated or not . This follows that where the product is discovered to be substandard or defective, the seller will either repair or replace the product in line with the terms and conditions of sales.

Implied Warranty is a quality assurance statement given by a buyer to a seller that is neither oral nor written but generally understood by law to be associated with products and services of that industry

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Determine income tax expense under the current situation:Taxable income during the year: $220 millionChange in future taxable am
MatroZZZ [7]

Answer: $51 million

Explanation:

Based on the values given in the question, the income tax expense would be calculated as:

Taxable Income = $220 million

Less : Deferred Income = $16 million

Form the above, we would then calculate the tax expense as:

= 25% × ($220 - $16)

= 25% × $204 million

= 0.25 × $204 million.

= $51 million

7 0
3 years ago
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted se
pishuonlain [190]

Answer:

Estimated cost of goods sold $ 3,964,800

Gross Margin $ 991,200

Explanation:

Estimated sales units and sales revenue

June                                                 8,800 units

July                                                 19,000 units

August                                            21,000 units

September                                     22,000 units

Total estimated sales                    70,800 units

Sales price per unit                             $ 70

Total Sales Revenue $ 70 * 70,800 units = $ 4,956,000

Computation of cost of goods sold

Direct Material  

5 pounds * 70,800 units * $ 2.40 per pound                                  $ 849,600

Direct Labor

2 labor hours * 70,800 units * $ 12 per hour                                 $ 1,699,200

Variable Manufacturing Overhead

$ 10 * 70,800 units * 2 labor hours                                                <u>$ 1,416,000</u>

Cost of goods sold                                                                          $3,964,800

Computation  of gross margin

Sales Revenue                                                                               $ 4,956,000

Cost of goods sold                                                                        <u>$ 3, 964,800</u>

Gross Margin                                                                                 $     991,200

3 0
3 years ago
Modern iq tests have a mean of ____ and a standard deviation of ____.​
matrenka [14]
Modern iq tests have a mean of 100 and a standard deviation of 15.

Hope this helped. Have a good day! :D
7 0
3 years ago
Sheffield Corp. uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets t
muminat

Answer:

$ 142 375

Explanation:

Thinking process:

Let the composite rate be given by the formula:

A = P (1+\frac{r}{n})^{nt}

where

A = amount after interest

\frac{r}{n} = interest rate

t = time

n = number of times (per year)

Therefore, this gives:

A =134 000 (1+\frac{0.75}{12})^{1}\\   = $ 142 375

8 0
3 years ago
For practical purposes, sampling with replacement and sampling without replacement are comparable as long as
Anit [1.1K]

For practical purposes, sampling with replacement and sampling without replacement are comparable as long as only a small fraction of the population is sampled,

In sampling with replacement, the two sample values are independent. In sampling without replacement, the two sample values aren't independent.

6 0
3 years ago
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