Pharma Meds Corporation employs Ogilvie under an employment contract that sets out a specific amount of money to be paid for certain results over a stated period of time. During the term of the contract, it becomes clear that the results are not likely to be attained. Pharma then gives Ogilvie the option of accepting a lesser position with fewer duties for less money. Ogilvie accepts via e-mail, but soon files a suit against Pharma for breach of the original contract. The court is most likely to rule that Ogilvie's e-mail
A. showed only an agreement to agree.
B. accepted the proposed modification of the employment contract.
C. constituted a non-binding, non-contractual communication.
D. contained an acceptance but is unenforceable because it is electronic.
Answer: B
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The central problem faced by transitioning economies and low-income countries is the shortage of goods and services
Indicate whether the statement is true or false
Prayer Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing 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: MachiningCustomizingMachine-hours 19,000 13,000Direct labor-hours 1,000 8,000Total fixed manufacturing overhead cost$110,200$68,800Variable manufacturing overhead per machine-hour$2.00 Variable manufacturing overhead per direct labor-hour $3.60 The estimated total manufacturing overhead for the Machining Department is closest to:
A. $38,000 B. $148,200 C. $299,725 D. $110,200
Just-in-time manufacturing (JIT) is a system that acquires inventory and produces only when needed.
Answer the following statement true (T) or false (F)
How can a company find its way out of a market characterized by pure competition?
A. increase prices and attract different, quality-oriented customers B. increase the amount of available product to flood the market C. decrease the amount of available product until the market reacts D. consistently offer the lowest price until other competitors leave the market E. differentiate the product in some way, even by packaging, so customers will see it as distinct