Latasha Thomas January 20‚ 2013 HSM 260 Jerome Anderson Exercise 10.1 Recompute fixed costs‚ variable costs‚ and the BEP. What are the variable costs? What are the fixed costs? How many meals will the WHDM program need to provide during the fiscal year to reach the BEP? How much profit will the program earn if it completes its 45‚000-meal contract with the City of Westchester? The variable cost of service is $3.93 during the fiscal year the WHDM should provide 1‚011 meals to reach their
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Conditions of Contract for Construction MULTILATERAL DEVELOPMENT BANK HARMONISED EDITION GENERAL CONDITIONS June 2010 For Participating Bank use only Released 30 June 2010 COPYRIGHT FIDIC 2010 FEDERATION INTERNATIONALE DES INGENIEURS-CONSEILS INTERNATIONAL FEDERATION OF CONSULTING ENGINEERS INTERNATIONALE VEREINIGUNG BERATENDER INGENIEURE FEDERACION INTERNACIONAL DE INGENIEROS CONSULTORES General Conditions CONTENTS 1 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14
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Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
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Payment‚ similar to consideration‚ is one of the four elements of a contract. Consideration is something of value in a contract or agreement between two parties. Both parties must be providing something of value to the other party. It is an act or promise to do (or not to do) something in return for value and the value given is enforceable. All the law need is ‘valuable consideration ’. For example‚ if Jack has offered to pay S$10 for a hammer worth S$100‚ that is considered valuable consideration
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Substantial performance constitutes a minor breach of the contract. Answer: TRUE Diff: 2 Topic: Substantial Performance: Minor Breach 3) When there is substantial performance of a contract with a minor breach‚ the other nonbreaching party may sue to recover the cost to repair the defect. Answer: TRUE Diff: 1 Topic: Substantial Performance: Minor Breach 4) Specific performance is the most common remedy for a breach of contract. Answer: FALSE Diff: 1 Topic: Substantial Performance:
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HISTORIES AND IDEOLOGIES OF WELFARE Ideology is a system and ideas‚ especially one which forms the basis of economic or political theory and policy (oxford dictionary). Everybody has his/her own ideology‚ they are our own systems of believe that shape and structure the way we see the world‚ and make judgment about it‚ and each individual’s ideological perspectives is different and unique. Individual ideologies are both capital and prescriptive; we know what is wrong with
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ASSIGNMENT THE THEORY OF CONTRACTS MEMBERS MOHD AMINUL HAKIM BIN HANI SALMAN 1124539 AHMAD ZUBAIDI BIN MAHMUD 1127783 AHMAD SYAHIR BIN MOHD ZAKARIA 1123419 SITI SHARINA BINTI SEMAN 1120902 NURHANI BINTI ABDUL RAHMAN 1118618 NURASHIKIN BINTI MOHD PILUS 1125834 INTRODUCTION Basically‚ human beings are dependent with each other to fulfil their needs and wants. We need to interact‚ communicate‚ trade and collaborate with others. Specifically ‘aqd or contract means a connection
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Contract costing is a type of a specific order costing: Contractor costing is generally used for the works of constructional nature such as civil engineering works etc.‚ Each contract is considered as a separate unit of cost and a separate account is kept for each individual contract. The special features of contract costing are as detailed below: Materials: The materials purchased directly or issued from the stores or transferred from other contracts are recorded on the debit side of the
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Money has three functions. The first is a medium of exchange‚ an item that buyers give to sellers when they want to purchase goods and services I like the definition from Wikipedia better‚ an intermediary used in trade to avoid the inconveniences of a barter system. As a medium of exchange money helps to facilitate the flow of goods and services by eliminating bartering and coincidence of wants (we all want money!). The second is a unit of account‚ a yardstick people use to post prices and record
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What’s your real cost of capital? By James J. McNulty‚ Tony D. Yeh‚ William s. Schulze‚ and Michael H. Lubatkin Harvard Business Review‚ October 2002 Issue of the article: valuing investment projects Number of pages: 12 Daniel Miravet Campos Part 1. Executive summary This article is fundamentally based on the exposition of a new method to calculate the cost of capital for a company (MCPM)‚ to meet the inefficiencies of the current one (CAPM). In valuing any investment project or
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