Diane Leblanc is shopping at Metro in the middle of February and sees a sign saying that raspberries are only $1.29 a package. She is very pleasantly surprised
She takes two packages to the cash, where the cashier informs her that the sign was a mistake and that the price is actually $4.79. Which of the following is correct?
A) Diane has offered to pay $1.29 for the raspberries but Metro (through the cashier) has not accepted her offer. There is no contract.
B) The display of the raspberries with a sign indicating their price is an invitation to treat. It is only the first stage in the bargaining process leading to a contract.
C) Although logically Metro has made an offer to sell the raspberries for $1.29, because of the likelihood of errors like this being made, the law makes an exception for retailers and says that it has not.
D) Both B and C
E) All of the above
E
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Which of the following is true for the shipping term F.O.B. (free on board) point of shipment?
A) It requires the seller to bear the expense and risk of loss until the goods are tendered to the buyer at the place of destination. B) It refers to a pricing term that includes the cost of the goods and the costs of insurance and freight. C) It requires the seller to bear the expense and risk of loss of the goods until delivery has been tendered. D) The buyer bears the shipping expense and risk of loss while the goods are in transit.
A person, group, or organization that has a meaning it intends and attempts to share with a receiver or an audience is a
A. communications channel. B. source. C. relay channel. D. decoder. E. sender.
The power to take private property for public use is one of the inherent powers of government both in the U.S. Constitution and in state constitutions. This is known as the power of ________
a. affirmative covenant b. eminent domain c. restrictive covenant d. easement
Hickingbottom Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: FormingFinishingMachine-hours 17,000 15,000Direct labor-hours 1,000 7,000Total fixed manufacturing overhead cost$96,900$65,800Variable manufacturing overhead per machine-hour$2.00 Variable manufacturing overhead per direct labor-hour $3.60 During the current month the company started and finished Job M381. The following data were
recorded for this job: Job M381:FormingFinishingMachine-hours 80 30Direct labor-hours 30 40Direct materials$840$350Direct labor cost$750$1,000The predetermined overhead rate for the Forming Department is closest to: A. $5.70 per machine-hour B. $18.70 per machine-hour C. $2.00 per machine-hour D. $7.70 per machine-hour