Res ipsa loquitur applies when the plaintiff had exclusive control of the instrumentality or situation that caused his or her own injury
Indicate whether the statement is true or false
FALSE
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The following data is given for the Stringer Company: Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per ounce $6.50 Standard ounces per completed unit 8 Actual ounces purchased and used in production 228,000 Actual price paid for materials $1,504,800 Labor: Standard hourly labor rate $22 per hour Standard hours allowed per completed unit 6.6 Actual
labor hours worked 183,000 Actual total labor costs $4,020,000 Overhead: Actual and budgeted fixed overhead $1,029,600 Standard variable overhead rate $24.50 per standard labor hour Actual variable overhead costs $4,520,000 Overhead is applied on standard labor hours. The direct material quantity variance is: A) 22,800F B) 22,800U C) 52,000F D) 52,000U
A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include:
A. A credit to Common Stock for $84,000. B. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $72,000. C. A debit to Land for $12,000. D. A credit to Land for $12,000. E. A debit to Common Stock for $12,000.
Which of the following acceptances is allowed for an offer under common law?
A) mirror image rule acceptance B) open term acceptance C) deposited rule acceptance D) additional terms acceptance
How much term life insurance should you have to provide your family with $75,000 per year pretax for general expenses for 40 years, plus immediately pre-fund two $100,000 college accounts for your two children in the event of your death
Assume your death benefit could be invested at 6% per year for the entire period. A) $1,200,000 B) $1,357,000 C) $1,328,472 D) Not enough information to determine the answer