The Legal Environment of Business: Text and Cases
10th Edition
ISBN: 9781337535878
Author: Frank B. Cross; Roger LeRoy Miller
Publisher: Cengage Learning US
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Chapter 17, Problem 3BCP
Summary Introduction
Case summary: The LLC named C and other investors took part in a project managed by another LLC, Z. The participants came into a new LLC agreement for the project. Investors had issued a complaint on Z for his failure in providing information. Investors filed a case against Z for breaching contract and fiduciary duty. Z went for summary judgement.
To find: The judgement of the court in Z’s case.
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Questi 8
Please don't answer with incorrect values.
if image is blurr please comment i will write values.
Price and Efficiency Variances (22 points)
The Livingston Corporation manufactures lamps. It has set up the following standards per finished unit
for direct materials and direct manufacturing labor:
「
Direct Materials: 10 lb. at $5.20 per lb.
Direct Manufacturing Labor: 0.5 hour at $30 per hour
$52
$15.00
The number of finished unit budgeted for January 2017 was 9,940; 9,900 units were actually produced.
Actual Results in January 2017 were as follows:
1.200
Direct Materials: 97,500 lb. used
Direct Manufacturing Labor: 4,900 hours
budg
$155,575
During the month, materials purchases amounts to 99,400 lb., at a total cost of $536,760. Input price
variances are isolated upon purchase. Input efficiency variances are isolated at the time of usage.
Requirement
Computer the January 2017 price and efficiency variances of direct materials and direct manufacturing
labor. (Put a U for Unfavorable and a F for Favorable variances)
53670
Actual Costs Incurred
Costs
(Actual Input Qty.
Actual Input…
Chapter 17 Solutions
The Legal Environment of Business: Text and Cases
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