Answer:
True
Explanation:
As per the contract details, Melonville Times will telecast and run an advertisement on Friday and in the morning of Saturday, as later during Saturday the sales has to be done.
In case of any failure from Melonvile Times, it is liable to pay $50. Now, by the clause and word enforceable means actionable in real terms.
Since there is a formal written contract between the parties and the purpose of such advertisement and the value in case of any failure is defined, the liquidated damages provided are enforceable.
Note: It is assumed as the organisations are legal and professional all the conditions to make the contract legally valid is true.
Therefore, above stated statement is true.
Answer:
d.$18,900
Explanation:
Gross Profit is the net of Sales value and production cost in the period for the units sold. Under absorption costing all the direct and indirect costs incurred in the production of products are included in the total production cost. As the cost is available for 100 units produced we need to calculate the cost of 90 unit and deduct this cost from the sales value to determine the gross profit and then deduct the operating expenses to calculate the operating income.
Sales (90 units) $90,000
Less: Production costs:
Direct materials ( $40,000 x 90/100 ) $36,000
Direct labor ( 20,000 x 90/100 ) $18,000
Variable factory overhead ( 2,000 x 90/100 ) $1,800
Fixed factory overhead ( 7,000 x 90/100 ) <u>$6,300</u>
Total Production cost <u>($62,100)</u>
Gross Profit $27,900
Less Operating expenses:
Variable operating expenses $8,000
Fixed operating expenses $1,000
<u>($9,000)</u>
Operating Income <u>$18,900</u>
D. Appointments to the Supreme Court must be apptoved in the Senate.
not sure though
Answer:
a.) the economic surplus is greater at the equilibrium quantity.
Explanation:
This is correct because at lower production levels a dead weight is created of the potential surplus that is not obtained either for producer nor consumers. At equilibrium, the maximum surplus is achieved and is allocated among producers and consumers
