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sweet-ann [11.9K]
1 year ago
7

How much would you need to deposit in an account now, such that in 5 years your account will have increased to $8,000, assuming

you can earn 5% on the deposit as it grows?
Business
1 answer:
VladimirAG [237]1 year ago
4 0

Answer:

$6268.21

Explanation:

Future value = $8000

Interest(r) = 5%

Period (n)= 5 years

How much need to deposit?

Find the Present value:

PV = FV / (1+r)n

= 8000 / (1.05)5

= 8000 / 1.27628156

Present Value / Amount need to deposi today = $6268.21 approx

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2a. Total Variable cost per unit

Variable costs Per unit :

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Direct materials                              6

Factory overhead                         $ 4

Variable Product Cost  ($20)

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Total Variable cost per unit     $25

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Data:

Variable costs Per unit :

Direct labor                         $ 10

Direct materials                      6

Factory overhead                $ 4

Variable Product Cost      $20

Administrative and selling  $ 5

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Total fixed costs                   $2,400,000

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c) Required profit = 10% of invested assets

= $3,200,000 x 10%

= $320,000

d) Product cost:

Variable cost = $20 x 160,000 = $3,200,000

Fixed manufacturing costs          $1,600,000

Total production cost                  $4,800,000

Product cost per unit $4,800,000/160,000 = $30

e) Income Statement to determine Sales Revenue

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Cost of goods sold

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Gross profit                $2,720,000

Fixed Costs:

Manufacturing            $ 1,600,000

Administrative & selling  800,000

Profit                             $320,000

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