You find the following contract written by Little Candy Company: “Giant Candy Company (Giant) agrees to buy and Little Candy Company (Little) agrees to sell all of the candy coating that Giant requires for a period of five years. The candy coating shall be purchased at the current list price as determined by Little. Orders will be shipped ten days from the placement of order. Applicable taxes extra. Contingencies beyond the control of Little to be sufficient excuse for failure to comply with the contract.
How many orders can you fill in a night, assuming you are open four hours each night? To answer this question we used another table to show the time required to finish producing the maximum amount of orders within the 4 hour time frame. We found that it takes 26 minutes to prepare the first dozen of cookies and an additional 10 minutes for each extra dozen. In 4 hours Kristen’s Cookie can bake 22 dozen of cookies. A formula for the number of minutes to produce one-dozen order can be given by this expression: 16+10N 3.
If an 8% interest rate is applied, what is the current value of the future payments? 5. General Mills will receive $27,500 per year for the next 10 years as a payment for a weapon it invented. If a 12% rate is applied, should it be willing to sell out its future rights now for $160,000? 6.
She will make annual payments on the loan at the end of each year. How much are each of Elizabeth’s payments? Part A: Table 6-4 Part B: 11% Part C: 6N Part D: 20000 = R(4.23054) 4.23054 4.23054 R = 4727.53 Problem 4: Derek Lee just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 6% compounded annually. If Lee plans to establish the DL Foundation once the fund grows to $1,898,000, how many years until he can establish the foundation?
Case Scenario: Big Time Toymaker LAW 421 March 5, 2015 Case Scenario: Big Time Toymaker At what point, if ever, did the parties have a contract? A contract is defined as an agreement that is recognized and enforceable by a court of law. There are several different types of contracts. In this particular case the company, Big Time Toy Maker and Chou, the inventor of the game, Strat made an oral agreement. The agreement was for Big Time Toy Maker to pay him $25,000 for exclusive negotiation rights for 90 days.
Explain Problem 2: Sale-Leaseback Sangamon signs a sale-leaseback with a buyer, Bismark. Under the terms of the contract, Bismark will pay $146,874 in cash to Sangamon for equipment and then immediately lease it back to Sangamon. The equipment originally cost $100,000 and had a carrying value of $80,000 on Sangamon’s books immediately prior to the transaction. In 5 years, the residual value of the leased equipment is estimated to be $20,000 when the lease terminates. The lease contract obligates Sangamon to make five equal annual payments of $30,000 to Bismark that begin immediately after the sale.
In 1998 during the first month of the fiscal year the Vice President estimated the amount of booths he expected Just for Feet to receive during the year which came to $174,362 per month of booth income. Just for Feet also claimed an increase in assets through the purchase of the booths. Then at the end of the third quarter, Just for Feet recorded another $5.2 million (U.S. Securities and Exchange Commission, 2005). Just for Feet then recorded an additional $2.2 million of booth income for the remainder of the fiscal year which brought the total of income before taxes from the vendor booths to $9 million, approximately a 20% increase of pre-tax income (U.S. Securities and Exchange Commission, 2005). The recording of the vendor booths were not accounted for in conformity with GAAP.
The equipment was acquired on January 1. It had a $1,000 estimated salvage value and a three-year useful life. 7. Sold inventory to customers for $25,000 that had cost $14,000 to make. Required Explain how these events would affect the balance sheet, income statement, and statement of cash flows by recording them in a horizontal financial statements model as indicated here.
The websites shows well over 100 different types of drink recipes. The turning point for RumChata came around when bartenders stated that its taste “like a bowl of General Mills’ Cinnamon Toast Crunch’. The drink is currently outselling Diageo’s Baileys, who were the leader of cream-based liqueurs in some parts of the U.S. Tom Maas originally started the idea back in 2006 but the product was brought to the market in 2009 in the Midwest #1 liquor store chain, Binny’s Beverage Depot. Maas’ company had already sold 15,000 cases which was nearly 4 times the sale of his original product. By April 2014, the millionth case of RumChata was sold.
Thus, Ethel’s Chocolate Lounges was formed, named in honor of the matriarch of the Mars Family, whom founded the candy company in 1911. The best type of consumer buying decision that best describes the choice to indulge in Ethel’s chocolates is limited decision making which typically occurs when a consumer has had previous product experience but is unfamiliar with the current brands available. The type of decision making that consumers use to purchase a product does not necessarily remain constant. For instance, if a routinely purchased product no longer satisfies, consumers may practice limited or extensive decision making to switch to another brand. Discuss the factors that influence a consumer to spend money and time at Ethel’s.