<span>Use the PV of an Annuity tables, where PV is $1,000, Annuity is $20, and Rate is 1.5%. But remember that the equation for this table is PV = Annuity x Factor. Since we know the PV and the Annuity, solve for the Factor.
PV / Annuity = Factor, so $1,000 / $20 = 50 (the Factor). From the table, find where a Factor of 50 meets a rate of 1.5%. A factor of 49.9724 appears at 1.5% and 93 Periods.
The formula for the PV of an Annuity is (1 - 1 / (1 + r)^n) / r. So 1,000 = (1 - 1 /(1.015)^n / .015.
To solve for n gets too difficult</span>
Answer:
Cost of finished goods on hand = $78,000
Explanation:
<em>Job costing is appropriate where goods or contracts are done to meet customers specific and unique requirements. Each customer's job is different from the other.</em>
To determine cost per unit cost job, we use the formula :
<em>= (D.material cost + Direct labour cost + Overhead)/ No of units</em>
We can work out the cost per unit for Job No; 402 as follows:
Step 1
<em>Calculate the closing inventory</em>
Closing inventory = Opening inventory + Production - Sales
= 0 + 5000 - 4000 = 1000
Step 2
<em>Calculate the the cost per unit</em>
= $(120,000 + 180,000 + 90,000)/ 5000 units
= $78 per unit
Step 3
<em>Value the closing inventory </em>
= unit cost × inventory units
= $78 × 1,000
= $78,000
Cost of finished goods on hand = $78,000
Answer:
Sorters and Farmworkers.
Explanation:
Not for sure if this is the answer, BUT it most likely is.
Answer:
Partnership
Explanation:
A partnership can be defined as a type of business ownership in which two or more individuals come together to start up a business and share the profits made together.
There are two (2) main classes of partnerships and these includes;
1. General partner: it is a type of partnership in which two or more people come together and have an agreement to do business by sharing profits, assets, debts or financial and legal liabilities.
2. Limited partner: it is a type of partnership in which people come together and have an agreement to do business but the involved partners only contribute financially and solely responsible to the amount of money they invested.
In this scenario, there are several doctors maintaining separate practices such as dentistry, paediatric, gynaecology, etc., in the same building.
Thus, these doctors may have combined their efforts to form a partnership business because they all share in the successful operation of the business and assume liability for any business debt owed.
Answer:
Break-even point (dollars)= $202,263.16
Explanation:
Giving the following information:
Division Q:
Sales= $365,000
Total variable costs= 226,300
Fixed costs= 76,860
<u>To calculate the break-even point for Division Q, we need to use the following formula:</u>
<u></u>
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 76,860 / [(365,000 - 226,300) / 365,000]
Break-even point (dollars)= 76,860 / 0.38
Break-even point (dollars)= $202,263.16