Cook instructs Chan, her agent, to buy a van for her business. Chan contracts for a van with a third party, who knows that Chan is an agent. If Cook does not like the van and refuses to pay for it, the seller may sue:
a. Chan because she did not have authority to enter into a final contract without permission b. Cook because Chan has actual authority to make a contract on behalf of her principal
c. Cook if Chan signed the contract expressly on behalf of Cook; that is, the principal was revealed before the contract was made
d. Cook but only if Chan has apparent authority to enter into the contract e. no one; there was no valid contract
b
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What will be an ideal response?
Which statement is true about standard hour plans?
A. They succeed only for employees who are not motivated by money. B. They encourage employees to work as fast as they can. C. In terms of their pros and cons, they are very different from piecework plans. D. They encourage employees to focus exclusively on customer service. E. They encourage employees to focus mainly on quality.
Nuzum Corporation has two divisions: Division M and Division N. Data from the most recent month appear below: Total CompanyDivision MDivision NSales$557,000$254,000 $303,000 Variable expenses 144,910 81,280 63,630 Contribution margin 412,090 172,720 239,370 Traceable fixed expenses 273,000 128,000 145,000 Segment margin 139,090 44,720 94,370 Common fixed expenses 94,690 43,180 51,510 Net operating income$44,400$1,540 $42,860 Management has allocated common fixed expenses to the Divisions based on their sales. The break-even in sales dollars for Division N is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $183,544 B. $303,405 C. $496,987 D. $248,747
Morse Company reports total contribution margin of $48,000 and pretax net income of $12,000 for the current month. The degree of operating leverage is:
A. 0.25 B. 4.0 C. 250% D. 1.25 E. 2.5