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2 years ago

Calculate the future value of $7,000 in four years at an interest rate of 8% per year.

1 answer:

4 0

The Future value is $9523.42. Future value is the amount of money that, when invested now at an interest rate, will eventually grow to be.

<h3>What is the Future Value of Money?</h3>

Future value is the amount of money that, when invested now at an interest rate, will eventually grow to be.

Calculation of Future value

Present Value = $7,000 interest rate = 8% Time = 4 years

FV = Future Value PV = Present Value

FV=PV(1+i)ⁿ

FV= 7,000(1+0.8)⁴= $9,523.42

Thus, the Future Value of $7,000 for four years is $9523.42.

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Polaco Corporation makes a product that has the following direct labor standards: Standard direct labor-hours 0.4 hours per unit

SOVA2 [1]

The labor efficiency variance for May for Polaco Corporation is <u>$4,320 Favorable</u>.

<h3>What is the labor efficiency variance?</h3>

The labor efficiency variance shows the difference between the actual direct labor hours worked and budgeted direct labor hours,

The labor efficiency variance is computed as the Standard hours allowed for production (SH) – actual hours taken (AH) × standard rate.

<h3>Data and Calculations:</h3>

Standard direct labor-hours per unit = 0.4 hours

Standard direct labor rate = $24 per hour

Production in May = 8,500 units

Actual hours used = 3,220 hours

Standard hours allowed = 3,400 hours (8,500 x 0.4)

Labor efficiency variance = $4,320 (3,400 - 3,220 x $24)

Thus, the labor efficiency variance for May for Polaco Corporation is <u>$4,320 Favorable</u>.

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7 0

2 years ago

Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types o

Nikolay [14]

Explanation:

The computation of the activity rate for each activity is shown below:

As we know that

Activity Rate = Expected rate ÷ Activity Driver

For Handling material = $650,000 ÷ 100,000 = $6.50 per part

For Inspecting product = $925,000 ÷ 1,500 parts = $616.67 per batch

For Processing purchase orders = $130,000 ÷ 700 = $185.72 per orders

Paying supplies = $200,000 ÷ 500 = 400 per invoices

Insuring the factory = $325,000 ÷ $40,000 = $8.125 per square foot

Designing packaging = $100,000 ÷ 2 models = 50,000 per models

5 0

3 years ago

Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials i

ycow [4]

Answer: Budgeted Raw Material to be consumed in July.

Quantity Price per pound Total

10,200 $6 $61,200

Explanation:

As for the information provided, the material at month end in hand shall be:

20% of upcoming month's sale.

If in June at month end, the inventory in hand = 2,040 pounds of raw material.

Then, this represents 20% of total requirement of July.

Therefore, total requirement in July = $\frac{2,040}{0.20} = 10,200\ pounds$

This basically means:

Total inventory required =

Quantity Price per pound Total

10,200 $6 $61,200

5 0

2 years ago

Jo is duly notified that her mortgage with Fund All Savings has been transferred to Big Loan Co. and that she should henceforth

Likurg_2 [28]

Answer:

Option D; JO IS LIABLE TO BIG LOAN CO. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

Explanation:

A mortgage is a loan provided by a mortgage lender or a bank that enables an individual to purchase a home.

Mortgage payments usually occur on a monthly basis and consist of four main parts: principal, interest, taxes and insurance.

A transfer of mortgage is the reassignment of an existing mortgage, usually on a home, from the current holder to another person or entity.

When mortgage is transferred, two notices will be sent: one from the current mortgage servicer and the other from the new servicer. All payments after the notification will be made to the new servicer.

Since Jo was notified about the reassignment from Fund All Savings to Big loan Co. but still continues to pay Fund All Savings and Big Loan Co. sues Jo for nonpayment. What is most likely to be the court's judgement is that JO IS LIABLE TO BIG LOAN Co. SINCE SHE RECEIVED A NOTICE FROM THEM ABOUT THE ASSIGNMENT.

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3 years ago

_____ uses an iterative process that repeats the design, development, and testing steps as needed, based on feedback from users.

Alecsey [184]

Answer: Rapid Application Development (RAD)

Explanation:

Rapid Application Development (RAD) is a method of developing software that tries more to develop a working model first and then adjusts as it receives feedback from users. It essentially is evolving every time because instead of planning for what is needed ahead of time, it simply makes a product and changes it as needed to fit the actual needs of the customers.

5 0

3 years ago