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The data below relates to Odeneho Plc and they are in respect of the production of its product, Milcho, for the first quarter ended 31 March 2022.
Required:
Determine the following:
i) Fixed overhead expenditure variance.
(2 marks)
ii) Fixed overhead capacity variance.
(2 marks)
iii) Fixed overhead efficiency variance.
(2 marks)
iv) Fixed overhead volume variance.
(2 marks)
v) Fixed production overhead variance.
(2 marks)
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Find Related Questions by Tags, levels, etc.
a) Papa Kwesi, a 16-year-old native of Cantonments, is a fashion enthusiast. He orders goods online from Labalaba Ltd, and his parents readily pay. On 28 March 2023, he ordered the following items from Labalaba Ltd: 3 wristwatches, 6 pairs of “bugger” trousers, 4 fanciful pairs of shoes, 5 current brands of shirts, and 3 brand new pairs of shoes for his girlfriend. The total cost of goods ordered was GH¢20,000.
Papa Kwesi’s mother decided to put a break on her son’s unrestricted love for ordering goods online. The parents decided that Papa Kwesi should pay for the goods from his savings. The parents felt that some of the items were unnecessary as he had them in abundance. The company subsequently issued the cost of the items in the name of Papa Kwesi.
Required: i) Explain in law of contract what is meant by Necessaries. (3 marks)
ii) In the scenario above, will Labalaba Ltd succeed on the claim against Papa Kwesi for the cost of the goods? Explain your answer. (3 marks)
iii) Which persons under the law of contract are said to lack capacity to enter into a contract?
(4 marks)
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a) Kwasi Mensa, aged 21 years, Patience Adibu, aged 14 years, and Kojo Ntim, aged 20 years, agreed to form a partnership. Available information, however, showed that Kojo Ntim was admitted to a psychiatric hospital for 2 years and was later discharged. In the case of Kwasi Mensa, he was declared bankrupt after he could not meet his financial obligations to a company in which he had previously invested. The three, however, went ahead and formed a partnership known as KKK firm.
Required:
Explain whether the KKK firm was formed in accordance with law. (5 marks)
b) State the reasons for which the Courts may order the expulsion of a partner. (10 marks)
c) What advantages does a partnership have over a company? (5 marks)
(Total: 20 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
The data below relates to Odeneho Plc and they are in respect of the production of its product, Milcho, for the first quarter ended 31 March 2022.
Required:
Determine the following:
i) Fixed overhead expenditure variance.
(2 marks)
ii) Fixed overhead capacity variance.
(2 marks)
iii) Fixed overhead efficiency variance.
(2 marks)
iv) Fixed overhead volume variance.
(2 marks)
v) Fixed production overhead variance.
(2 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
a) Papa Kwesi, a 16-year-old native of Cantonments, is a fashion enthusiast. He orders goods online from Labalaba Ltd, and his parents readily pay. On 28 March 2023, he ordered the following items from Labalaba Ltd: 3 wristwatches, 6 pairs of “bugger” trousers, 4 fanciful pairs of shoes, 5 current brands of shirts, and 3 brand new pairs of shoes for his girlfriend. The total cost of goods ordered was GH¢20,000.
Papa Kwesi’s mother decided to put a break on her son’s unrestricted love for ordering goods online. The parents decided that Papa Kwesi should pay for the goods from his savings. The parents felt that some of the items were unnecessary as he had them in abundance. The company subsequently issued the cost of the items in the name of Papa Kwesi.
Required: i) Explain in law of contract what is meant by Necessaries. (3 marks)
ii) In the scenario above, will Labalaba Ltd succeed on the claim against Papa Kwesi for the cost of the goods? Explain your answer. (3 marks)
iii) Which persons under the law of contract are said to lack capacity to enter into a contract?
(4 marks)
Find Related Questions by Tags, levels, etc.
a) Kwasi Mensa, aged 21 years, Patience Adibu, aged 14 years, and Kojo Ntim, aged 20 years, agreed to form a partnership. Available information, however, showed that Kojo Ntim was admitted to a psychiatric hospital for 2 years and was later discharged. In the case of Kwasi Mensa, he was declared bankrupt after he could not meet his financial obligations to a company in which he had previously invested. The three, however, went ahead and formed a partnership known as KKK firm.
Required:
Explain whether the KKK firm was formed in accordance with law. (5 marks)
b) State the reasons for which the Courts may order the expulsion of a partner. (10 marks)
c) What advantages does a partnership have over a company? (5 marks)
(Total: 20 marks)
Find Related Questions by Tags, levels, etc.
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