Question Completion with Answer Options:
A. Yes, according to the terms of her contract.
B. Yes, according to the duty of good faith and fair dealing.
C. No, according to the at-will termination provision in her contract.
D. No, because subsequent conduct of the parties modified the contract.
Answer:
Fountain Valley, Inc. and Alice
B. Yes, according to the duty of good faith and fair dealing.
Explanation:
Alice is entitled to the bonus of $10,000 because the duty of good faith and fair dealing requires Fountain Valley not to deny Alice the benefits arising from their valid contract. Since Alice's employment contract included a 5% bonus of all sales in excess of the previous 12 months' sales, the Fountain Valley, Inc. should not deny Alice's claim to the benefits.
b) Employment contract terms = $78,000/year plus 5% bonus of all sale in excess of the previous 12 months' sales. The value of sales in 2017 is $200,000 more than in 2016. 5% of $200,000 = $10,000. Therefore, Alice is entitled to the bonus.
Answer:
Advantages of Informal Sector employment:
Some employers pay well because company owners do not have many tax obligations. Employee effort is directed towards achieving profit rather than satisfying irrelevant routines.
There can be a close and direct relationship with the employer, therefore making it easy to get permission when in need of time off.
You are saved the hassle of paying Pay As You Earn tax.
There’s no red tape when it comes to dealing with personnel issues which are expressly handled either by the employer him/herself, or a senior manager.
Sometimes employment is done on the spot with little emphasis on attending lengthy job interviews and countless aptitude tests.
Sometimes one is employed because of one’s personal relationship with the employer rather than on merit.
Disadvantages of Informal Sector employment:
Little or no job security.
Unprotected by labour laws.
Odd working hours.
No pension, insurance or health insurance scheme.
Summary dismissals.
Difficult to make any savings due to low wages.
A brief illness or injury or injury can mean no financial means to survive.
Explanation:
Answer:
the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00
Explanation:
The Weighted Average Cost Method calculates the new cost of Inventory with each purchase of Inventory.
The Perpetual Inventory System records the cost of inventory sold with each sale made.
<u>Calculation of the new cost of Inventory with each purchase of Inventory :</u>
January 10:
Cost per Unit = Total Cost / Total Number of Units
Cost per Unit = (( 600 units × $55 per unit ) + ( 1000 units × $59 per unit )) / 1600 units
= $ 57.50
January 20:
Cost per Unit = Total Cost / Total Number of Units
Cost per Unit = (( 1600 units × $57.50 per unit ) + ( 800 units × $62 per unit )) / 2400 units
= $ 59.00
There were no further purchases from this point
Thus cost per units remains at $ 59.00
Therefore the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00
