Person W and person M entered into a partnership business of buying, renovating, and selling houses. Person M financed the project which was supposed to cost him $ 60,000. Person W agreed to oversee the project which was supposed to run for 6 months. W lived in the house while the renovation work was done. W incurred unnecessary expense, did not pay his bills on time, and did not keep M informed about these expenses and costs. The project was not completed on time, rather it was incomplete even after one year and W walked away from the project. M completed the renovation which costed him $ 311,222 and then sold the house. M recovered the damages from W for breaching the legal contract and wrongful dissociation. To find: The time for dissociation of the partnership and the reason which made dissociation a wrongful one.

Question

Techtronic Inc., a manufacturing company, has just completed an order that Micro Solutions placed for 150 gadgets. The direct material, purchased parts, and direct labor costs for the Micro order are as follows: • Cost of direct materials: $54,000 • Cost of purchased parts: $30,000 • Direct labor hours: 300 hours • • Average direct labor pay rate: $18 per hour Overhead costs were applied at a plant wide overhead rate of 250 percent of direct labor dollars. Compute the total cost of the Micro order.

Answer 1

Question

Chapter 16, Problem 9BCP

(a)

Summary Introduction

Case summary: Person W and person M entered into a partnership business of buying, renovating, and selling houses. Person M financed the project which was supposed to cost him $60,000. Person W agreed to oversee the project which was supposed to run for 6 months. W lived in the house while the renovation work was done. W incurred unnecessary expense, did not pay his bills on time, and did not keep M informed about these expenses and costs. The project was not completed on time, rather it was incomplete even after one year and W walked away from the project. M completed the renovation which costed him $311,222 and then sold the house. M recovered the damages from W for breaching the legal contract and wrongful dissociation.

To find: The time for dissociation of the partnership and the reason which made dissociation a wrongful one.

Summary Introduction

Case summary: Person W and person M entered into a partnership business of buying, renovating, and selling houses. Person M financed the project which was supposed to cost him $60,000. Person W agreed to oversee the project which was supposed to run for 6 months. W lived in the house while the renovation work was done. W incurred unnecessary expense, did not pay his bills on time, and did not keep M informed about these expenses and costs. The project was not completed on time, rather it was incomplete even after one year and W walked away from the project. M completed the renovation which costed him $311,222 and then sold the house. M recovered the damages from W for breaching the legal contract and wrongful dissociation.

To find : The action of person W which represents unethical behavior or bad management that led to breach of contract.

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Techtronic Inc., a manufacturing company, has just completed an order that Micro Solutions placed for 150 gadgets. The direct material, purchased parts, and direct labor costs for the Micro order are as follows: • Cost of direct materials: $54,000 • Cost of purchased parts: $30,000 • Direct labor hours: 300 hours • • Average direct labor pay rate: $18 per hour Overhead costs were applied at a plant wide overhead rate of 250 percent of direct labor dollars. Compute the total cost of the Micro order.

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