Call-in pay is the minimum payment guaranteed to employees who report for work even if work is not available

The Baldwin Company, in its master budget for 2019, predicted total sales of $160,000, variable costs of $48,000, and fixed costs of $52,000 ($24,000 manufacturing and $28,000 nonmanufacturing). Actual sales revenue for 2019 turned out to be $180,000. Actual costs were as follows: variable, $54,000, and fixed, $50,000. (1) What was the total master (static) budget variance for 2019? (Note that this variance is also referred to as the total operating income variance.) (2) Was this total variance favorable (F) or unfavorable (U)?

Total Master (static) Budget Variance:

When parties anticipate than various unexpected events may occur and they allocate who shall bear the risk if any of these unexpected events occurs, the contract will include

A) an implied term B) an entire agreement clause C) a force majeure clause D) a warranty E) a fundamental breach clause