Micro environment essay

Arthur Rabe is suing Xavier Sanchez for breaching a contract in which Sanchez promised to sell Rabe a Van Gogh painting for $150

OLEGan [10]

Answer:

Remedies

a. The suing party is called the plaintiff. The party being sued is the defendant. Therefore, since Arthur Rabe wants to sue Xavier Sanchez. Rabe is the Plainttiff and Sanchez is the Defendant.

b. If Rabe wants Sanchez to perform the agreement as promised, Rabe would seek remedy of Specific performance of Contract from the Court. Failure to do so will attract charges.

c. If Rabe wants the contract to be cancelled, then Rabe would ask the court for a rescission which is the cancellation of a contractual obligation.

d. The term remedies refers to a legal means to enforce a right or redress a wrong. Remedies of law include land, items of value or money. Remedies in equity includes specific performance, injunction and rescission. Thus, both remedies in part b and c are remedies in equity.

e. The party appealing a case is called the appellant or petitioner while the appellee is the party against whom the appeal is taken. So Sanchez would be the appellant and Rabe would be the respondent.

7 0

3 years ago

East Valve Distributors distributes industrial valves and control devices. The Eastern control device has an annual demand of 9,

Mama L [17]

Answer:

1000

Explanation:

Given:

Annual DEMAND, D = 9375

Holding cost, H = 0.75

Cost per order, S = 40

The Economic order quantity :

EOQ = √[(2 * D * S) / H]

EOQ = √[(2 * 9375 * 40) / 0.75]

EOQ = √[(750000) / 0.75]

EOQ = √1000000

EOQ = 1000

5 0

3 years ago

Effective internal control activities over the payroll function may include Reconciliation of totals on job time tickets with jo

Svet_ta [14]

Answer:

Verification of agreement of job time tickets with employee clock card hours by a payroll department employee.

Explanation:

An effective internal control system

This simply aim to give adequate hope that the policies, processes, tasks, behaviours etc, of an organisation, when complied, helps its effective and efficient operation of the organisation etc.

It is very essential in the payroll and personnel cycle to prevent over payments and payments to nonexistent employees. Proper authorization by the human resources department should add and delete employees from the payroll or change pay rates and deductions. The number of hours, overtime, must be approved by employees supervisor.

Payroll computations should be separately verified. A member of management should review the payroll output for any obvious errors or unusual amounts.

7 0

3 years ago

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Gekata [30.6K]

Answer:

Results are below.

Explanation:

To calculate the direct material price, quantity, and total variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (193 - 190)*1,700

Direct material price variance= $5,100 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,680 - 1,700)*193

Direct material quantity variance= $3,860 unfavorable

Total variance= Direct material price variance +/- Direct material quantity variance

Total variance= 5,100 - 3,860

Total variance= $1,240 favorable

To calculate the direct labor efficiency, rate, and total variance; we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (4,650 - 4,600)*14.5

Direct labor time (efficiency) variance= $725 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (14.5 - 15)*4,600

Direct labor rate variance= $2,300 unfavorable

Total variance= Direct labor time (efficiency) variance +/- Direct labor rate variance

Total variance= 725 - 2,300

Total variance= $1,575 unfavorable

7 0

3 years ago

The honey Co. sells two types of honey, flower and maple. The company projected the following cost information for the two produ

ozzi

Answer:

Break-even point (units)= 3,500 units

Explanation:

Giving the following information:

Flower Maple

Unit selling price $ 250 $ 120

Unit variable cost $ 110 $ 80

Number of units produced and sold 4,000 6,000

The company's total fixed costs are expected to be $280,000.

First, we need to calculate the sales proportion:

Flower= 4,000 / 10,000= 0.4

Maple= 6,000 / 10,000= 0.6

Now, to calculate the break-even point, we need to use the following formula:

Break-even point (units)= Total fixed costs / Weighted average contribution margin

Weighted average contribution margin= (weighted average selling price - weighted average unitary variable cost)

Weighted average contribution margin= (0.4*250 + 0.6*120) - (0.4*110 + 0.6*80)

Weighted average contribution margin= 80

Break-even point (units)= 280,000 / 80

Break-even point (units)= 3,500 units

6 0

3 years ago

Micro environment essay​

Micro environment essay