Jason's Mother Would Like Him to Go to College,so in June

question 18

Multiple Choice

Jason's mother would like him to go to college,so in June he enrolls at State University.He also quits his job and tells his mother his plans to continue taking classes.His mother says,"I'm so happy that you are going to college that I want to pay for your books." Jason then sends her a bill for $485.Which of the following is true regarding his mother's promise?

• A) It is enforceable,because Jason returned to college.
• B) It is enforceable,because Jason is giving up the right to do something else.
• C) It is unenforceable,because it is a unilateral contract.
• D) It is unenforceable,because Jason had already enrolled in school and there is no consideration.

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Definitions:

Labor Efficiency Variance

The difference between the actual labor hours used to produce a good or service and the standard labor hours expected to be used, measuring labor efficiency.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on activity levels.

Favorable

A term used in accounting and finance to describe outcomes or variances that are better than anticipated, indicating a positive performance against the budget or forecast.

Unfavorable

A term used to describe a variance or outcome that results in a worse financial position than expected or budgeted.