Carpet Renewal dyes carpets for residential customers. The company is interested in estimating fixed and variable costs. The following data are available for the month of June when 420 carpets were dyed:
Office rent $ 1,250
Depreciation - equipment 900
Cleaning supplies 5,140
Hourly wages 11,000
Transportation (variable) 3,600
Owner’s salary 3,100
Total $24,990
Using account analysis, how much is estimated variable cost per carpet?
a. $59.50
b. $52.12
c. $47.00
d. $38.43

Answers

Answer 1

Answer: c. $47 per carpet

Explanation:

Total variable costs are:

= Cleaning supplies + Hourly wages  + Transportation

= 5,140 + 11,000 + 3,600

= $19,740

The variable cost per carpet is:

= Total variable cost / Number of carpets dyed

= 19,740 / 420

= $47 per carpet


Related Questions

In​ long-run equilibrium, all firms in the industry earn zero economic profit. Why is this​ true? All firms in perfectly competitive industries earn zero economic profit in the long run because A. barriers to entry and exit prevent firms from earning positive or negative economic profit. B. a positive profit would induce firms to produce more ​, increasing price and​ profit, and a negative profit would induce firms to produce less ​, decreasing price and profit. C. firms are price​ takers, maximizing profit by producing where price equals average cost . D. a positive profit would induce firms to​ enter, decreasing price and​ profit, and a negative profit would induce firms to​ exit, increasing price and profit. E. firms are price​ takers, maximizing profit by producing where price equals marginal cost.

Answers

Answer:  D. a positive profit would induce firms to​ enter, decreasing price and​ profit, and a negative profit would induce firms to​ exit, increasing price and profit.

Explanation:

In the long run in a competitive market, companies will enter if they find that the market is making positive economic profits. This will increase the number of supplies in the market which would then lead a to a reduction in price and by extension a reduction in profit.

If the profit that firms begin to make after these new companies come into the market, falls below 0, then firms will leave the market so as not to make losses. This would reduce supply and lead to prices rising which would pull profits up as well till they are positive again then the first instance would repeat itself.

This goes on repeatedly and therefor keeps long run economic profit at 0.

Wayland Company has a standard of 5.0 hours of labor per unit, at $11.00 per hour. In producing 800 units, Wayland used 3,800 hours of labor at a total cost of $41,000. What is Wayland's labor price variance

Answers

Answer:

Direct labor rate variance= $798 favorable

Explanation:

To calculate the direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (11 - 10.79)*3,800

Direct labor rate variance= $798 favorable

Actual rate= 41,000 / 3,800= $10.79

Janet and Megan are debating the use of student discounts by local stores near school. Janet argues, "When stores offer discounts to students with valid identification, it is price discrimination, because they are attempting to separate the market into two groups—each with different demands for that particular good." Megan responds with, "This is not a form of price discrimination, because there is no age restriction for students. Economists generally agree with :

a. Dina
b. Antonio

Answers

Answer:

Antonio

Explanation:

In simple words, Antonio has a lot of support among economists. Price discrimination occurs when a vendor is able to split clients into groupings or segregate a marketplace into two categories so that they may charge varying charges to that same two groups. It has hardly anything to deal with the customers' age.

Thus, Antonio is correct with his views.

10 percent decrease in consumer incomes leads to a 20 percent decrease in the quantity demanded of good D. Instructions: Round your answer to one decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The income elasticity of this good is: . This good can best be described as (Click to select) .

Answers

Answer:

Income elasticity = 2

Normal good

Explanation:

Below is the given values:

Percentage decrease in consumers income = 10%

Percentage decrease in quantity demanded = 20%

Use the below formula to find the income elasticity:

Income elasticity = % change in quantity demanded / % in income

Income elasticity = -20/-10

Income elasticity = 2

Since the elasticity is 2 that means good is normal good.

Assume the following macroeconomic variable ( in $ billion) for an economy: Y = national income = Aggregate Expenditures Aggregate Expenditures = Consumption + Investment + Government Spending + Net Export Assuming that the full employment level in $6,000 billion, determine the change in government spending needed to reach full employment. (Hint: calculate the current GDP, then calculate aggregate expenditures using national income of $6,000 and find the difference)

Answers

Answer:

440

Explanation:

Calculation to determine the change in government spending needed to reach full employment.

At Y=6000,

C=300+0.64Y

C=300+0.64*6000

C=300+3840

C=4140

Second step

Imports=0.08*Y=0.08*6000

Imports=480

Aggregate expenditure=4140+800+700+400-480

Aggregate expenditure=5560

Full employment G=6000-5560

Full employment G=440

New G=700+440

New G=1140

Y=300+0.64Y+800+1140+400-0.08Y

Y=2640+0.56Y

Y=2640/0.44

Y=6000

Therefore the change in government spending needed to reach full employment must Increase by 440.

During 2021, Raines Umbrella Corporation had sales of $772,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $465,000, $104,500, and $150,000, respectively. In addition, the company had an interest expense of $74,400 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible). Suppose Raines Umbrella Corp. paid out $102,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt?

Answers

Answer:

Paying out $102,000 in cash dividends is possible

Net new long-term debt $26,100

Explanation:

Calculation to determine the net new long-term debt

Sales $772,000

Less Cost of goods sold $465,000

Gross profit $307,000

($772,000-$465,000)

Administrative and selling expenses $104,500

Depreciation expenses $150,000

Earning before interest tax $52,500

($307,000-$104,500-$150,000)

Interest expense $74,400

Profit or Loss before tax ($21,900)

($52,500-$74,400)

Less Tax 25% $0

Add Depreciation expense $150,000

Net Cash flow $128,100

(-$21,900+$150,000)

Dividend $102,000

Net new long-term debt $26,100

($128,100-$102,000)

Therefore Based on the above calculation Paying out $102,000 in CASH DIVIDENDS is possible even though the Net income is Negative, its operating cash flow is $128,100 positive which means that the company has enough cash balance to pay dividends of $102,000. The Net new long-term debt is $26,100

Clannad currently produces and sells 4,000 units per year, and has a capacity of 5,000 units. Enya, Inc. has offered a one-year contract to supply parts at a cost of $30.00/unit. If Clannad accepts, it will reduce fixed costs by 50% and will be able to rent unused space to another company for $18,000 per year. What is the impact on Clannad's profits if it accepts the offer.

Answers

Answer: Increase of $20,000

Explanation:

The cost of making a unit is:

= Direct material + Direct labor + Variable overhead + Fixed overhead

= 10 + 14 + 5 + 3

= $32

For 4,000 units that would be:

= 4,000 * 32

= $128,000

Cost of buying 4,000 units :

= Cost of buying + Fixed cost

= (4,000 * 30) + (3 / 2 * 4,000)

= $126,000

This cost is further reduced by the renting of the unused space:

= 126,000 - 18,000

= $108,000

Impact on profit:

= Cost of making - Cost of buying

= 128,000 - 108,000

= $20,000

Increase of $20,000

apricot corporation has 11000 shares of 11%, $110 par noncumulative preferred stock outstanding and 26000 shares of no par common stock outstanding. At the end of the current year, the corporation declares a dividend of

Answers

i’m sorry i really need points

Activity-based costing is preferable in a system:

a. when multiple products have similar product volumes and costs
b. with a large direct labor cost as a percentage of the total product cost
c. with multiple, diverse products
d. where management needs to support an increase in sales price

Answers

Answer:

c. with multiple, diverse products

Explanation:

Activity based costing is a method that is used to share overhead and indirect costs among various products and services offered by a company.

So products that are produced in larger volume will receive more cost allocation.

The cost driver rate is used in this allocation and is calculated by dividing total pool cost by the cost driver.

So cost is allocated based on units of goods produced.

Examples of indirect cost shared are salaries and utilities.

Activity based costing is best for multiple diverse products. So that cost can effectively be allocated based on the amount of activity attributed to a particular product.

Roger is conducting an educational event and has asked a couple or providers

Answers

Answer:

Roger will require different equipment to conduct his educational event successfully.

Explanation:

Roger will require kiosks, banners, pamphlets and some ushers for his event. There should be reception or help desk placed at entrance to guide the attendees. There should be banners placed for different educational institutions who will be part of the event.

The Pension Trust Fund maintained by the city of Linden had the following transactions during 2019. Record each transaction in the Pension Trust Fund. Ignore any other funds that may be involved in a transaction.

a. Contributions of $600,000 were received from General Fund employees, and the General Fund contributed its share of $100,000.
b. The fund paid $500 for investment management fees.
c. Investments held by the fund increased in value by $3,500.
d. Depreciation on fund capital assets totaled $800.
e. Retirement benefits of $7,700 were paid to retirees.
f. Interest of $2,500 and dividends of $1,400 were received from investments

Answers

Answer:

Date            Account Title                                                  Debit              Credit

XX - 2019    Cash                                                                $700,000

                    Additional pension Contribution -                                $600,000

                    Employees  

                    Additional pension Contribution -                               $600,000

                    Employer

Date            Account Title                                                  Debit              Credit

XX - 2019    Investment management fees                      $500

                    Cash                                                                                      $500

Date            Account Title                                                  Debit              Credit

XX - 2019    Investments                                                    $3,500

                    Net appreciation in investment fair value                         $3,500

Date            Account Title                                                  Debit              Credit

XX - 2019    Depreciation of fund capital assets             $800

                   Accumulated depreciation of fund                                     $800

                    capital assets  

Date            Account Title                                                  Debit              Credit

XX - 2019    Retirement benefits                                    $7,700

                    Cash                                                                                    $7,700

Date            Account Title                                                  Debit              Credit

XX - 2019   Cash                                                              $3,900

                  Interest on investments                                                       $2,500

                  Dividends                                                                              $1,400

In a fairly large portfolio, the ...................... risk associated with one stock typically has no impact on the portfolio total risk. In this case, it would be reasonable to expect that the effects of ..................... risk on various stocks would offset each other, thereby eliminating the risk to the investor arising from this source of risk.

Answers

Answer:

Unsystematic; unsystematic

Explanation:

In the case of the large portfolio, the non-systematic risk that could be attached would have no effect on the total risk of the portfolio

So it is to be expected that the impact should be of non-systematic risk on different kind of stock that could be offset each other in order to remove out the risk to the investor that occurs from the sources of the risk

Number Style Which of the following sentences apply correct number style? Check all that apply.

a. We prefer that our interns have completed Finance 201 and an advanced professional communication course. He hopes to have at least $2 million in his retirement account by the time he turns 40. 57% of his take-home salary goes straight into his retirement account. Choose the best option to correct the following sentence.
b. She has scheduled the meeting for March eleventh two thousand 8 at eight in the morning. She has scheduled the meeting for March 11, 2008, at eight in the morning. She has scheduled the meeting for March eleventh, 2008 at eight in the morning. She has scheduled the meeting for March 11, 2008, at 8 a.m.
c. Which of the following sentences express correct number style? Check all that apply. John wasn't sure how to break the news without angering the majority of the company's 421 employees. The meeting was scheduled for three o?clock on Friday, February fifteenth. The average salary increase for Division 45 employees was 2.8 percent last year.
d. Which of the following choices has the correct number style to use at the beginning of a sentence? 3/4 of the respondents Three-fourths of the respondents.

Answers

Answer:

1. We prefer that our interns have completed Finance 201 and an advanced professional communication course.

• He hopes to have at least $2 million in his retirement account by the time he turns 40

b • She has scheduled the meeting for March 11, 2008, at 8 a.m.

c. The average salary increase for Division 45 employees was 2.8 percent last year.

d. Three-fourths of the respondents

Explanation:

It should be noted that the numbers from one to ten should be written in word form, while those from 11 and above can be written in figures.

The numbers such as percentages that starts a sentence needs to be written in words. Therefore, 57% should be written in words

Therefore, the correct options are:

• We prefer that our interns have completed Finance 201 and an advanced professional communication course.

• He hopes to have at least $2 million in his retirement account by the time he turns 40.

Other correct options to the question include:

b. She has scheduled the meeting for March 11, 2008, at 8 a.m.

For information that has to do with meetings, the numbers should be written in numerical form.

c. The average salary increase for Division 45 employees was 2.8 percent last year.

d. Three-fourths of the respondents

The number should be written in words since it begins the sentence.

A firm's current profits are $1,300,000. These profits are expected to grow indefinitely at a constant annual rate of 3 percent. If the firm's opportunity cost of funds is 6 percent, determine the value of the firm:
a. The instant before it pays out current profits as dividends.
b. The instant after it pays out current profits as dividends

Answers

Answer:

a. Value of the firm = $45.93 million

b. Value of firm = $44.63 million

Explanation:

a. Below is the calculation for the value of firm.

Value of firm = Profit [( 1 + i) / (i - g)]

Profit = 1300000

i = 6%

g = 3%

Value of the firm = 1300000 [(1 + 0.06) / (0.06 - 0.03)]

Value of the firm = $45.93 million

B. Value of the firm after it pays profit as dividend.

Value of firm = Profit [( 1 + g) / (i - g)]

Value of firm = 1300000 [(1 + 0.03) / (0.06 -0.03]

Value of firm = $44.63 million

The latest video game comes out and costs $60. You put it on your credit card and can’t afford to pay the whole bill all at once, so you make the minimum payment each month. How much is that minimum payment?

Answers

The minimum payment each month is 15%. The minimum payment is the least amount of money you must pay each month to maintain the status of your account.

What is minimum payment?

The total balance on your account for that billing cycle is represented by the statement balance. The sum of your most recent bill plus any recent charges constitutes your current balance.

Although experts advise paying the statement balance in full each month, there are occasions when it might not be possible. In those circumstances, it's crucial to pay at least the required minimum in order to keep your account current and avoid late penalties and penalty APRs.

Learn more about minimum payment here:

https://brainly.com/question/3347812

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Sal is very clear in defining for his subordinates the incentives available to them for different levels of performance. He makes sure they understand the path toward receiving incentives and follows through on rewarding them when they meet those goals. Sal exhibits the _______ theory of leadership.

Answers

Answer: d. path–goal

Explanation:

The Path-goal theory of leadership espouses that leaders should be dynamic and use whichever leadership style would be best suited to the abilities of their subordinates and the work environment that they are in.

It is then divided into four styles with the relevant style here being the "directive path-goal clarifying leader behavior". Under this style, the manager specifies exactly what it is that they want from the employees and then rewards them when they meet the required objectives.

The theory of leadership that Sal was exhibiting when he was defining some incentive that can make them perform well and explain the path to follow so as to receive the incentive when they achieve their goal is  The path-goal theory.

The path-goal theory can be regarded as one that focus on  leader's behavior which serves as contingent to the satisfaction that influence the motivation and performance of their employees.

Good example us where Sal promise her employee about incentive once they achieve their goals.

Therefore, The path-goal theory is correct.

Learn more at:

https://brainly.com/question/4679152?referrer=searchResults

When you were born, your dear old Aunt Minnie promised to deposit $1,000 into a savings account, bearing a 5% effective annual rate, on each birthday, beginning with your first. You have just turned 22 and want the dough. However, it turns out that dear old (forgetful) aunt Minnie made no deposits on your fifth and eleventh birthdays. How much is in the account right now?

Answers

Answer: $34,502.85

Explanation:

The constant deposits are considered annuities.

The value at the end of 22 years is the future value of the annuity.

Future value of annuity = Annuity * ( (1 + rate)^number of years - 1 ) / rate

= 1,000 * ( ( 1 + 5%) ²² - 1) / 5%

= $38,505.21

Then subtract the future values of the deposits that your grandmother missed.

For the fifth birthday, the future value term will be 22 - 5 = 17 years

For the eleventh, the future value term will be 22 - 11 = 11 years

The amount in the account is:

= 38,505.21 - (1,000 * 1.05¹⁷) + (1,000 * 1.05¹¹)

= $34,502.85

Value a Constant Growth Stock Financial analysts forecast Best Buy Company (BBY) growth for the future to be 14.00 percent. Their recent dividend was $1.19. What is the value of their stock when the required rate of return is 15.43 percent

Answers

Answer:

$94.87

Explanation:

Value of stock = Dividend * (1 + Growth rate) / (Required rate - Growth rate)

Value of stock = $1.19 * (1 + 0.14) / (0.1543 - 0.14)

Value of stock = $1.19 * 1.14 / 0.0143

Value of stock = $1.3566 / 0.0143

Value of stock = 94.8671329

Value of stock = $94.87

XYZ Corporation manufactures two models of office chairs, a standard and a deluxe model. The overhead costs for setups and components pools are $60,000 and $58,900, respectively. The following activity has been compiled:
Number of Number of Number of
Setups Components Direct Labor Hours
Standard 11 6 295
Deluxe 29 13 205
Overhead costs $63,600 $102.600
Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity based costing system is used, what is the total amount of overhead costs assigned to the standard model?
A. $109,200
B. $57,000
C. $83,000
D. $83,100

Answers

Answer:

$49,890

Explanation:

The computation of the total amount of overhead costs assigned to the standard model is given below

The cost driver rate is

For setup

= $63,600 ÷ (11 + 29)

= 1,590

For component

= $102,600 ÷ (6 + 13)

= 5,400

Now the total amount of overhead for the standard model is

= 11 × 1,590 + 6 × 5,400

= $17,490 + $32,400

= $49,890

This is the answer but the same is not provided in the given options

The cost of a parcel of land is 50 cents per square foot. Candace wants to purchase one acre. How much will this cost?

Answers

1 acre = 43,560 square feet.

Multiply square feet by cost per square feet

43,560 x 0.50 = $21,780

Total cost: $21,780

what job should i choose to be so rich

Answers

Answer:

The top career choices for making the most money are being an investment banker or physician. Engineer and pharmacist are good options as well.

Answer:

rather than focus on wealth, you should focus on the jobs that you would enjoy doing. Money mean nothing if you don't have time to use them.

When Frank demonstrates his actual pizza tossing technique during the webisodes, he is attempting to connect with customers through which part of the 4E framework for digital marketing?

Answers

Answer: experience

Explanation:

Frank is attempting to connect with customers through the 4E framework for digital marketing known as experience.

The 4E Framework describes different training methods and the outcome that are expected outcomes for each of the training.

The strategies involved are exposure, expertise, experience, and embedding. Experience strategies enhances the readiness of the user to use a new information or an innovation. The goal of the experience strategy is the increased knowledge and positive attitudes.

Since demonstrates his actual pizza tossing technique during the webisodes, in this case he has the experience.

Vent, Inc. reported net income of $770,000 for 20X1. Vent sold 15,000 shares of treasury stock acquired in a previous year on July 1 and 15,000 new shares on November 1. At year-end, 180,000 shares were outstanding. Vent had 20,000 shares of $100 par value 7% preferred stock outstanding all year. Vent paid dividends to the preferred shareholders. 1. The weighted average number of common shares used to compute earnings per share for 20X1 is:_____.2. Calculate the basic earnings per share for 2015.3. If each share of preferred stock is convertible into 2 shares of common stock, what is the diluted earnings per share for 2015?

Answers

Answer:

1. Weighted average number of outstanding shares = 150,000*12/12 + 15,000*6/12 + 15,000*2/12

Weighted average number of outstanding shares = 150,000 + 7,500 + 2,500

Weighted average number of outstanding shares = 160,000 shares

2. Net income = $770,000

Preferred dividend = 20,000 shares*$100*7%

Preferred dividend = $140,000

Income attributable to common stockholders = Net income - Preferred dividend

Income attributable to common stockholders = $770,000 - $140,000

Income attributable to common stockholders = $630,000

Basic Earnings per share = Income attributable to common stockholders / Weighted average number of outstanding shares

Basic Earnings per share = $630,000/160,000

Basic Earnings per share = $3.94

3. Diluted EPS = Net income / [Weighted average number of common shares outstanding during the period + All dilutive potential common stock]

Diluted EPS = $770,000 / (160,000 + 20,000*2)

Diluted EPS = $770,000 / 200,000 shares

Diluted EPS = $3.85 per share

Common stockholders' equity as of 1/1/2017 $7,031,250 Common stockholders' equity as of 12/31/2017 $8,593,750 Net sales for the year 2017 $3,906,250 Net income for the year 2017 $250,000 Common stock dividends paid during 2017 $10,000 Calculate the company's Payout Ratio.

Answers

Answer:

the payout ratio is 4%

Explanation:

The computation of the payout ratio is shown below:

The payout ratio is

= Dividend ÷ net income

= $10,000 ÷ $250,000

= 4%

We simply divided the dividend from the net income so that the payout ratio could come

Hence, the payout ratio is 4%

Answer:

it is 4%

Explanation:

The journal entry for an installment note payment includes all except:__________.
a. a credit to Accounts Payable.
b. a credit to Cash.
c. a debit to Interest Expense.
d. a debit to Notes Payable.

Answers

Answer: a. a credit to Accounts Payable.

Explanation:

When paying off a note, cash will be used so cash will have to be credited to show that it is decreasing.

Interest expense will be debited by the interest accumulated on the loan because expenses are debited when they increase.

Notes Payable will be debited to show that the note has now been retired.

There is no credit for Accounts payable involved in this transaction.

Burt is strategizing and planning an IMC marketing campaign for the company where he is employed as marketing specialist. If he is to execute an effective IMC campaign, which aspects should he consider

Answers

Answer:

Incorporate the manufacturing process steps of the service into your planning and design process. A further explanation is provided below.

Explanation:

Burt would have had to take into account the possible throughout the development process of the marketing campaign when trying to execute an integrated Communication IMC program.An essential component of conducting a successful IMC campaign requires determining the phase including its project lifecycle.

Thus the above is the right answer.

Nungesser Corporation has an EPS of $1.96, a cash flow per share of $3.15, and a price/cash flow ratio of 7.76×. What is its P/E ratio?

Answers

Answer:

12.47

Explanation:

Given :

Earning per share, EPS = $1.96

Cashflow per share = $3.15

Price / Cash flow ratio = 7.76

The P/E ratio = share price / Earning per share

The Share price is given by :

Cashflow per share * price to cash flow ratio

Share price = $3.15 * 7.76 = $24.444

Now ;

P/E ratio = Share price / Earning per share = $24.444 / $1.96

P/E ratio = 12.4714

P/E ratio = 12.47

Managerial accounting systems report both monetary and nonmonetary information. Examples of nonmonetary information include: _________ a) employee diversity. b) percentage of on-time deliveries. c) employee satisfaction data. d) amount of sales per customer

Answers

Answer:

b) percentage of on-time deliveries.

Explanation:

Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.

Managerial accounting systems is an accounting system that is used by an organization to report both monetary and nonmonetary information. An example of a nonmonetary information is the percentage of on-time deliveries of the goods and services produced and supplied to consumers.

he company considers renovating its operations by purchasing a new machine that would reduce variable expenses by $7.20 per unit. However, fixed expenses would increase to a total of $544,320 each month. Using the new machine would not cause a change in monthly sales quantity or price per unit. What would the company's margin of safety in dollars be if it purchases and uses the new machine

Answers

Question Completion:

Morton Corporation

Income Statement for the most recent month

Sales revenue (42,000 units * $24 per unit) $1,008,000

Variable cost of goods sold                                 705,600

Contribution margin                                          $302,400

Fixed expenses                                                    241,920

Net operating income                                         $60,480

Answer:

Morton Corporation

The company's margin of safety in dollars would be $100,800 if it purchases and uses the new machine.

Explanation:

a) Data and Calculations:

Morton Corporation

Income Statement for the most recent month

Sales revenue (42,000 units * $24 per unit) $1,008,000

Variable cost                                                        705,600

Contribution margin                                          $302,400

Fixed expenses                                                    241,920

Net operating income                                         $60,480

After the renovation of operations:

Variable cost of goods sold will reduce by $7.20 per unit

Variable cost per unit before renovation = $16.80 ($705,600/42,000)

New Variable cost per unit after renovation = $9.60 ($16.80 - $7.20)

New contribution margin per unit = $14.40 ($24 - $9.60)

Contribution margin ratio = 0.60 or 60%

New total fixed expenses = $544,320

Break-even point in sales dollars = Fixed expenses/Contribution margin ratio

= $544,320/0.60

= $907,200

Margin of safety = Sales revenue - Break-even Sales Dollars

= $100,800 ($1,008,000 - $907,200)

Lisa is a homeowner looking to sell her house. She opts not to sign a listing agreement with a broker in order to save on the commission. However, she is still being assisted by her good friend Martha, who is a licensed FL broker. How would you characterize Martha's relationship with Lisa

Answers

Answer:

There is a no-brokerage relationship between Martha and Lisa since a listing agreement has not been signed and Martha is only offering assistance.

Explanation:

Brokerage relationship

This is commonly known as that tyoe of relationship that is usually contractual in nature and it exists between a client and a real estate licensee, the services of the broker has been engaged by the client for the purpose of getting a seller, buyer, tenant and willing to sell etc on client's behalf.

Authorized Brokerage Relationships

1. Single Agency

2. Transaction Broker

3. No Brokerage

4. Designated Sales Associate

No brokerage relationship

This is regarded as a form of a procedure or an arrangement where the broker does not represent either the buyer or the seller but the broker do works to help in the transaction process.

The duties of No brokerage relationship

The law states that a real estate broker working in a no brokerage relationship should always deal honest and fairly, and also disclose (open up) all known facts that materially affect the value of residential real property that are not readily seen or known to the buyer.

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