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motikmotik
2 years ago
9

__________is the name for the doctrine that holds that the manufacturer of a product has legal responsibilities to compensate th

e user of that product for injuries suffered because the product's defective condition made it unreasonably dangerous, even though the manufacturer has not been negligent in permitting that defect to occur.
Business
1 answer:
Zigmanuir [339]2 years ago
6 0

Answer:

Product liability

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During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators, of whi
tiny-mole [99]

Answer:

1.                     Absorption Costing Income Statement

                         For the month ended May 31, 2016

Sales                                                                     $10,800,000

<u>Cost of goods sold</u>

Beginning inventory                   -

Cost of goods manufactured    $9,600,000

Ending Inventory                         <u>$960,000</u>

Cost of goods sold                                                <u>$8,640,000</u>

Gross margin                                                          $2,160,000

<u>Selling and administrative expenses</u>

$1,080,000 + $180,000                                         <u>$1,260,000</u>

Income from operation                                           <u>$900,000</u>

<u />

2.             Variable Costing Income Statement

               For the month ended May 31, 2016

Sales                                                                            $10,800,000

<u>Variable cost of goods sold</u>

Beginning Inventory                     -

Variable cost of goods manufactured $9,280,000

Ending Inventory                                    $928,000

Variable cost of goods sold                                        <u>$8,352,000</u>

Manufacturing margin                                                  $2,448,000

Variable selling and administrative                             <u>$1,080,000</u>

expenses

Contribution margin                                                     $1,368,000

<u>Fixed Cost:</u>

Fixed manufacturing cost                        $320,000

Fixed selling and administrative              <u>$180,000</u>

expenses

Total fixed cost                                                                <u>$500,000</u>

Income from operation                                                  <u>$868,000</u>

<u />

3. The reason for difference of amount for income from operation is $32,000 ($900,000 - $868,000). It is due to fixed manufacturing cost which is included for ending inventory under absorption costing (320,000 / 80,000 * 8,000). Hence, income under absorption costing is higher by $32,000 as compared to income under variable costing.

8 0
3 years ago
When a person is developeing a plan, he must understand the or what he is selling.
9966 [12]

Answer:

Product

Explanation:

When a person is developing a plan, he must understand the product he is selling.

He can only develop an effective plan if he knows the complete dimensions of the product at hand. An incomplete understanding would lead to developing an ineffective plan that might create the wrong perception of it in the minds of the consumer and eventually effect the sales negatively or maybe engage the wrong market in the process.

4 0
3 years ago
Is the following scenario a partnership? Your parents ask you to babysit your sibling for the evening and they give you a long l
solong [7]

Your parents give you a large set of instructions and ask you to watch your brother for the evening. There is no collaboration in this situation.

An agreement between two or more persons to manage a business's operations and divide its assets and liabilities is known as a partnership. In a general partnership corporation, the assets and liabilities are divided equally among all of the partners.

By definition, a partnership firm consists of two or more individuals who pool their resources to create a company and agree to split the risks, rewards, and losses. Examples of common partnership businesses include law firms, medical groups, investment real estate companies, and accountancy groups.

Two or more persons are required. An agreement is required. The firm must distribute its gains. There has to be reciprocal agency.

To learn more about partnership

brainly.com/question/9909227

#SPJ9

7 0
1 year ago
Game theory suggests that competing firms in an oligopolistic industry may be
alina1380 [7]

Game theory suggests that competing firms in an oligopolistic industry may be  reluctant to change prices because they anticipate that rivals will match price cuts but ignore price increases.

<h3>What is Game theory?</h3>

Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.

Dominant strategy is the best option for a player regardless of what the other player is playing. Nash equilibrium is the best outcome for players where no player has an incentive to change their decisions.

Here are the options:

. too quick to raise prices because they will fail to anticipate that rivals may gain market shares.

b. reluctant to change prices because they anticipate that rivals will match price cuts but ignore price increases

c. reluctant to change prices because they anticipate that rivals will ignore price cuts but match price increases

d. too quick to cut prices because they fail to anticipate that rivals may also cut their prices.

To learn more about game theory, please check: brainly.com/question/25746243

6 0
2 years ago
Read 2 more answers
The following selected account balances are taken from the records of Cooper Corporation for the past two years.
kumpel [21]

Answer:

Cooper Corporation

1. Cash received from the sale of equipment:

= d. 70

2. Decrease in cash from investing activities:

= b. (522)

3. Increase in cash from financing activities:

= c. 30

Explanation:

a) Data and Calculations:

December 31

                                              2018      2017   Change

Equipment                           $750      $400    +$350

Accumulated depreciation   (160)      (225)       +65

Land                                        92           50        +42

Bonds payable                       30           50         -20

Common stock                     120         100         +20

Additional paid in capital     400        320         +80

Retained earnings               825        675       +150

Net income for the year = $200

Depreciation expense = $70

Less Gain from sale of equipment $5

Equipment

Account Titles         Debt     Credit

Beginning balance  $400

Cash purchase          550

Sale of equipment                $200

Ending balance                       750

Sale of equipment

Equipment       $200

Accumulated depreciation   $135

Cash                                          70

Gain from sale      5

Retained earnings:

Beginning balance              $675

Net income                            200

Dividends                    50

Ending balance         825

Statement of Cash Flows (partial):

Investing activities:

Sale of equipment           $70

Purchase of equipment -550

Purchase of land              -42

Decrease in cash         $522

Financing activities:

Bonds payable                        -20

Common stock                       +20

Additional paid in capital        +80

Dividends paid                        -50

Increase in cash                    $30

3 0
2 years ago
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