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weqwewe [10]
2 years ago
13

Explain the difference between a credit and a debit cards; weighing the pros and cons of both.

Business
1 answer:
Katena32 [7]2 years ago
7 0
Credit cards allow you to buy goods and services with credit and if you go over the credit limit you’ll be charged an overdraft fee but with debit cards you can connect the money you earn from your job to the card and spin the money on the card but when the money is gone you have to wait till next paycheck to spend more but they will not be an overdraft fee also credit cards can affect your ability to be approved for loans and pay house mortgages if your credit score is bad meaning you don’t have a good history of paying your bills on time it will make it hard for you to apply for car loans in house mortgages
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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
gayaneshka [121]

Answer:

(a) FIFO cost $ 17,510.00  includes 20 units @ $63.00 per unit and 250 units @ $ 65.00 per unit.

(b) LIFO cost $ 15,900.00  includes 115 units @ $53.00 per unit, 135 units @ $63.00 per unit and 20 units @ $65.00 per unit.

(c) Weighted average cost $ 16,838.76 includes 270 units @ $62.37 per unit.

(d) Specific identification cost $ 16,240.00 includes 85 units @ 53.00 per unit, 30 units @ 58.00 per unit, 40 units @  63.00 per unit and 115 units @65.00 per unit.

3 0
3 years ago
A polisher costs $10,000 and will cost $20,000 a year to operate and maintain. If the discount rate is 10 percent and the polish
kirill115 [55]

Answer:

EAC $22,638

Explanation:

                            0               1                  2           3                4             5

Cost                    (10,000)

Cashflows                            20,000      20,000   20,000     20,000    20,000

PV factor                              1/1.1             1/1.1^2       1/1.1^3        1/1.1^4     1/1.1^5

NPV=Cashflow*PV Factor    18,182       16,529        15,026    13,660       12,418

NPV=10,000+18,182+16529+15,026+13,660+12,418)=85,815

EAC=NPV*r/1-(1+r)^-n=85,815*.1/(1-(1+.1)^-5=$22,638                              

5 0
3 years ago
Mohave Corp. is considering outsourcing production of the umbrella tote bag included with some of its products. The company has
Vlad [161]

Answer:

Mohave Corp.

1. Cost Differences:

Relevant costs:

                                                     Make             Buy        Difference

Direct materials                              $3

Direct labor                                       2

Variable manufacturing overhead   1

Fixed manufacturing overhead       0.80

Total cost per unit                          $6.80        $7.50          $0.70

Annual Units                                  8,000        8,000          8,000

Total costs                                 $54,400   $60,000       $5,600

2. Based strictly on the incremental analysis, Mohave should continue to make the tote bags.

3. The recommendation is changed.  Mohave should buy the tote bags from outside.  Buying from outside increases operating income by $4,400.

Explanation:

a) Data and Calculations:

Price per unit from outside supplier = $7.50

Direct materials                             $3

Direct labor                                      2

Variable manufacturing overhead 1

Fixed manufacturing overhead     2

Total cost per unit                        $8

Relevant costs:

                                                     Make             Buy        Difference

Direct materials                              $3

Direct labor                                       2

Variable manufacturing overhead   1

Fixed manufacturing overhead       0.80

Total cost per unit                          $6.80        $7.50          $0.70

Annual Units                                  8,000        8,000          8,000

Total costs                                 $54,400   $60,000       $5,600

Relevant costs:

                                                     Make             Buy        Difference

Direct materials                              $3

Direct labor                                       2

Variable manufacturing overhead   1

Fixed manufacturing overhead       0.80

Total cost per unit                          $6.80        $7.50          $0.70

Annual Units                                  8,000        8,000          8,000

Total costs                                 $54,400   $60,000       $5,600

Annual profits from new product        0     (10,000)     $10,000

Total net costs                          $54,400   $50,000       $4,400

3 0
2 years ago
An owner withdrawal of $20,000 would_______.
brilliants [131]

An owner who withdraws an amount of $20000 would lead to decrease in the assets and the owner's equity by $20000.

Answer: Option D.

<u>Explanation:</u>

Assets are the things which are owned by the owner of the organisation and provide economic benefits. Liabilities are things which are the obligation on the owner of the company that he has to pay off. Equity is the share of the share holder of the company.

If an owner with draws or takes out money from the business for the personal use, it would lead to the decrease in the amount of the assets of the owner. It would also lead to the decrease in the amount of equity of the owner because he has taken out his share from the business for his personal use and not for the business.

7 0
3 years ago
Production equipment costing $500,000 has been purchased by a contract manufacturing company to meet the specific needs of a cus
irina1246 [14]

Answer:

Short-cut IRR = 18.75%

The company has not reached their rate of return goal on this contract and investment.

Explanation:

a) Data and Calculations:

Cost of production equipment = $500,000

Qualified investment tax credit (ITC) = 10% = $50,000 ($500,000 * 10%)

Contract period = 4 years with 4 years extension on renewal

Income tax rate for the company = 40%

Expected after-tax rate of return = 12%

Expected before-tax rate of return = 30% (12%/40%)

Annual income generated by the equipment = $150,000 for 4 years

Salvage value at the end of 4 years = $200,000

Short-cut IRR = 100%, divided by the number of years * about 75-80%

= 100%/4 * 75%

= 18.75%

8 0
2 years ago
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