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iragen [17]
1 year ago
12

Kentucky Lumber and MillWork Company contracted to supply Rommell Company millwork for use in the construction of a school build

ing. While the work was in progress the Kentucky Lumber mill was destroyed by fire. For two months thereafter, Kentucky Lumber and Millwork Company supplied Rommell with mill work purchased by it from a third party. The Kentucky Lumber mill did not wish to continue this plan and declared that the contract was ended. Rommell Company brought an action against Kentucky Lumber to enforce the contract. How will the court decide?
Business
2 answers:
Scilla [17]1 year ago
6 0

Answer:

Kentucky Lumber and MillWork Company Vs Rommell Company

Most likely, the court will decide that Kentucky should continue to perform its contract obligations.  We note that following the destruction of the mill by fire, Kentucky never invoked the clause of force majeure.   It continued to fulfill its obligations for a period of two months.  

Before the case comes to the court, Kentucky should have requested for a renegotiation of the contract price with Rommell if it had discovered that the cost of buying from third-party suppliers could prevent it from continuing with the contract.  Note that the fulfilment of a contract is not based on mere wishes but on facts, supported by the prevailing circumstances.

Explanation:

The court will decide to answer Rommell's prayers for an equitable relief by forcing Kentucky Mill to continue with the specific performance of the contract or to pay damages to Rommell for losses arising from the failure of Kentucky to fulfil the contract.

omeli [17]1 year ago
5 0

Answer:

Kentucky can gain advantage since it has not breached any terms of the contract.

Explanation:

Kentucky Lumber will be beneficiary of the decision since it is Rommel company who is ending up the contract but Kentucky Lumber is willing to continue the service according to the terms of the contract. Kentucky mill work was destroyed but it bought the equipment from a third party to continue providing the service according to the contract terms.

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The question, "What are the distinguishing characteristics of effective leaders?" sparked which approach to the study of leaders
Sergio [31]

Answer:

behavioral approach to the study of leadership

Explanation:

In simple words, The behavioral approach is only concerned with what managers do and what they behave. The behavioral approach broadened the science of leadership to encompass the activities of leaders toward followers in diverse settings by moving the study of leadership to leader behaviors. Monitoring and analyzing a leader's movements and behaviors in response to a given circumstance is central to behavioral leadership theory.

7 0
1 year ago
Weirick, Inc., manufactures and sells two products: Product T8 and Product P4. The company has an activity-based costing system
gtnhenbr [62]

Answer:

$634,443

Explanation:

The computation of total overhead applied to Product P4 under activity-based costing is shown below:-

                                                                               

Activity        Expected               Expected           Activity  

                         costs                 Activity                Rate    

                         a                         b                      c =  a ÷ b

Labor related $145,000     6,000 DLHs         24.17 per DLHs

Production

orders           $68,360        1,400 orders     48.83 Per orders

Order size   $1,069,190      5,800 MHs       184.34 per MHs

                         Product P4

Activity driver            Overhead

Incurred                   Assigned

    d                                 e = c × d

2,000                              $48,340

300                                 $14,649

3,100                               $571,454

Total overhead cost       $634,443

3 0
1 year ago
A manager reorders lubricant when the amount on hand reaches 422 pounds. Average daily usage is 45 pounds, which is normally dis
Snezhnost [94]

Answer: The risk of stock out = 2.94%

Explanation:

Reorder point is calculated as: Lead time*demand per unit time=45*9=405

While the amount on-hand reaches 422 pounds, the manager was reordering lubricant.

During the lead time, Standard Deviation of Demand =Daily S.D*(Lead time)^0.5=3*(9^0.5)=9

Risk of Stock Out=(422-405)/9 S.D=1.89 S.D

From Normal distribution curve 1.89 S.D=0.0294=2.94%

Therefore, the risk of stock out=2.94%

7 0
1 year ago
Read 2 more answers
Nakama Corporation is considering investing in a project that would have a 4 year expected useful life. The company would need t
Fed [463]

Answer:

We have to assume specific tax rate to come up with the income tax expenses. Let assume the tax rate is 30%.

The income tax expense in year 2: $53,400.

Explanation:

We have:

Depreciation expenses of the equipment in the second year = (Initial cost - salvage value) / Useful life = (168,000 - 0)/4 = $42,000.

Profit before tax in year 2 = Sales in year 2 - operating expenses in year 2 - Depreciation expenses in year 2 = 520,000 - 300,000 - 42,000 = $178,000.

Income tax expense in year 2 = Profit before tax in year 2 x tax rate = 178,000 x 30% = $53,400.

So, the answer is $53,400.

5 0
2 years ago
Diana can either invest $20,\!000$ dollars for $4$ years with a simple interest rate of $6\%$ or an interest rate of $7\%$ which
Verizon [17]

Answer:

$34,243.28

Explanation:

Simple interest = P x r x t

where:

P = Principal

r = rate

T = time

Therefore simple interest = 20,000 x 6% x 4 = $4,800

Compound Interest = ((P*(1+r)^n) - P),

where P is the principal,

r is the annual interest rate = 7%, and

n is the number of periods = 4 years x 4 quarters a year.

Therefore compound interest = ((20000 (1+0.07)^16)-20000) = $39,043.28

Difference in interest = $39,043.28 - $4,800 = $34,243.28

6 0
2 years ago
Read 2 more answers
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