Examlex
Fact Pattern 15-B2 (Questions B3-B4 apply)
Organic Farms Company contracts to buy two tracts of land from Prime Bottomland,Inc.Both parties believe that the two tracts are adjacent,but in fact they are not.Prime Bottomland is still willing to sell the land,but under these circumstances the deal would adversely affect Organic Farms.
-Refer to Fact Pattern 15-B2.The parties' belief about the adjacency of the property is
Direct Labor Price Variance
A measure used in managerial accounting to calculate the difference between the actual cost of direct labor and the expected (or standard) cost, affecting the overall cost of production.
Standard Rate
The predetermined cost or price utilized in budgeting and costing exercises, aimed at simplifying accounting practices or performance evaluations.
Direct Labor Hours
The total hours worked by employees directly involved in the production of goods or services.
Total Materials Variance
The difference between the standard cost of materials supposed to be used for the products and the actual cost of materials used.
Q1: An agency by estoppel arises when the
Q1: Wilson buys a lottery ticket at his
Q1: Clark hires Dimitri to act as his
Q2: A seller with voidable title has the
Q7: Federal wiretapping law covers electronic forms of
Q11: A promise to do what one already
Q17: Duffy and Elbert agree to hijack a
Q29: Under the UCC,an offeree can accept an
Q37: If a contract condition is not satisfied,the
Q42: Dave's uncle tells Dave that if "he