Answer:
(a) The Vasquez construction is the principal, the surety is the party that underwrites the contract and local school board is the obligee.
(b) If Vasquez fails to finish the contract, then the surety will be required to pay for the loss suffered by the obligee due to the contract failure.
(c) In a surety bonds contract, the surety has a legal right to get back the losses from the principal.
Explanation:
Solution:
(a) Under a performance bond contract, the owners assures that the work will be completed within a specific time frame and contract specification.
In this example given, the Vasquez construction is the principal, the surety is the party that underwrites the contract and local school board is the obligee.
(b) If the Vasquez construction fails to complete or finish the contract, then the surety will be obliged to pay for the loss suffered by the obligee due to the failure of the contract.
(c) In a surety bond contract, the surety has a legal right to recover the losses from the principal. for this later on, the surety can recover it's loss from the principal.
Answer:
-4 units
Explanation:
Using the midpoint method, Blake's income elasticity of demand for generic potato chips is given by the change in demand (D) multiplied by his average income (I), divided by the change in income multiplied by the average demand:
Blake's income elasticity of demand is -4 units.
Answer:
Allocated MOH= $158,000
Explanation:
Giving the following information:
The standard direct labor quantity is 4 hours per lamp, and the company produced 9,800 lamps in January. This required 39,500 direct labor hours.
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 4*39,500= $158,000
<span>Answer:
Gross Pay: $1200
Less Health Ins: (42.50)
Taxable Pay: 1157.50
SS Tax: 71.77 (1157.50 *.062)
Medicare Tax: 16.78 (1157.50 *.0145)
FIT: 91.79
Net Pay: 977.17
FIT calcualted as follows: Taxable less allowances (1157.50 less (71.15*4) = 872.9
(872.9 * .15)-39.15 = 91.79</span>
An example of delayed purchasing is when you would pay for a hot tub in 39 weeks and receiving the hot tub today. It is like a car loan, you would pay for the car over a certain time frame and you would drive home with the car that day. The correct answer is B.
