Frictionless Lubricant Corporation and Grease, Inc, are the principal sup¬pliers of their product in their market. They agree that Frictionless will sell exclusively to retailers and Grease will sell exclusively to wholesalers. Under antitrust law, this is most likely
a. aper se violation.
b. a violation only if their competitors make similar deals.
c. a violation only if their customers agree to honor the deal.
d. not a violation.
A
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The Farm Union represents farm workers, some of whom are employed by Vino Wineries. The
union is on strike against Vino and it is picketing all liquor stores that sell Vino products. The picketers are asking that no one buy anything from any liquor store that carries Vino products. There has been no violence. This picketing is: A) An illegal common situs picket. B) An illegal hot cargo agreement. C) A legal common situs picket. D) A legal secondary boycott. E) An illegal secondary boycott.
Uqua Inc. purchased a depreciable asset for $189,000. First-year depreciation for book purposes was $22,000, and first-year MACRS depreciation was $37,800. If Uqua's marginal tax rate is 21%, the excess tax depreciation results in a $3,318:
A. Deferred tax asset B. Deferred tax liability C. Permanent unfavorable book/tax difference D. Permanent favorable book/tax difference
Majer Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price orRateStandard Cost Per UnitDirect materials 6.40?ounces$3.00?per ounce$19.20?Direct labor 0.6?hours$16.00?per hour$9.60?Variable overhead 0.6?hours$3.00?per hour$1.80?The company reported the following results concerning this product in February. Originally budgeted output 4400?unitsActual output 5500?unitsRaw materials used in production 30,700?ouncesActual direct labor-hours 1790?hoursPurchases of raw materials 29,300?ouncesActual price of raw materials$117.10?per ounceActual direct labor rate$107.60?per hourActual variable overhead rate$6.30?per hourThe company applies variable overhead on the basis of direct labor-hours. The
direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for February is: A. $13,437 F B. $13,437 F C. $13,500 F D. $13,500 U
Manuel and Janice enter into an oral contract which states that Janice will sell her house to Manuel. Manuel makes a partial payment to Janice as per the contract. When Janice vacates the house, Manuel hires a contractor to build a fence around the backyard to ensure security. However, Janice revokes her offer saying that a third party is paying a higher price for the house, and her offer to Manuel was not in written form. Manuel, who has spent $5,000 on the fencing, decides to sue Janice. Analyze the case.
What will be an ideal response?