With reference to #51, what if the owner of the land had taken title with a general warranty deed from the seller?
A)?Then the seller would be required to cover the cost of the mortgage because the lack of a permit is a breach of the warranty of possession.
B)?The seller would be required to cover the cost of the mortgage because the property cannot be used for what was warranted to the buyer.
C)?The warranty deed does not cover zoning issues with the property.
D)?The seller would have to cover damages only if it was a special warranty deed.
C
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The following data is given for the Bahia Company: Budgeted production 1,000 units Actual production 980 units Materials: Standard price per lb $2.00 Standard pounds per completed unit 12 Actual pounds purchased and used in production 11,800 Actual price paid for materials $23,000 Labor: Standard hourly labor rate $14 per hour Standard hours allowed per completed unit 4.5 Actual labor hours
worked 4,560 Actual total labor costs $62,928 Overhead: Actual and budgeted fixed overhead $27,000 Standard variable overhead rate $3.50 per standard labor hour Actual variable overhead costs $15,500 Overhead is applied on standard labor hours. The factory overhead volume variance is: A) 65U B) 65F C) 540U D) 540F
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A quitclaim deed does not pass title
Indicate whether the statement is true or false