If both parties to an oral sale or lease contract are merchants, the Statute of Frauds requirement
can be satisfied if one of the parties sends a written confirmation and the other merchant does
not object within 10 days of receiving the
confirmation.
Indicate whether the statement is true or false
TRUE
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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 direct labor hour Actual variable overhead costs $15,500 Overhead is applied on standard labor hours. The factory overhead controllable variance is: A) 65U B) 65F C) 540U D) 540F
NaviCal Inc., a personal navigation system company, has contracted its manufacturing to a firm in Malaysia for five years. NaviCal had high financial growth, and it wants to purchase the manufacturing facility. This market entry method is called ________.
A. strategic alliance B. direct foreign investment C. licensing D. joint venture E. franchising
Charm Enterprises' production budget shows the following units to be produced for the coming three months: April May June Units to be produced 2,560 2,880 2,760 A finished unit requires four ounces of a key direct material. The March 31 Raw Materials Inventory has 4,032 ounces (oz.) of the material. Each month's ending Raw Materials Inventory should be 35% of the following month's production needs. Materials purchases in May should be?
A. 7,616 oz. B. 11,520 oz. C. 11,352 oz. D. 7,448 oz. E. 15,384 oz.
The earning power of a company can be defined as the product of two factors:
A) net profit margin and total asset turnover. B) net profit margin and fixed asset turnover. C) total asset turnover and earnings per share. D) fixed asset turnover and cash flow per share.