The Warranty of _____________ Refers to the Quality of the Personal

question 5

Essay

The warranty of _____________ refers to the quality of the personal property, and is a promise that the personal property is of usual and customary quality, and as such it is fit for its ordinary and intended use.​

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Definitions:

Labour Rate Variance

The difference between the actual cost of labor and the standard or expected cost.

Standard Cost Per Bag

A pre-determined cost estimate for producing or purchasing a single unit of product, in this context, a bag.

Direct Material

Raw materials that are directly traceable to the manufacturing of a product and constitute a significant portion of the production cost.

Direct Labour

The workforce directly involved in the manufacturing of goods or provision of services, whose wages are directly associated with specific products or services.