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2 years ago

Andy just purchased a 2.5 acre vacant lot of land for $500,000. What was the price per square yard?

Business

1 answer:

julsineya [31]2 years ago

7 0

Andy just purchased a 2.5 acre vacant lot of land for $500,000. $41.32 per sq. yd price per square yard.

$500,000 ÷ 12,100 sq. yds. = $41.32 per sq. yd

What is square yard?

The length times the width, expressed in feet, must be multiplied by 9, and the result is the square yard (SQYDS). A square yard measures 9 square feet.
One billion is referred to as "yard" in finance. The word is derived from "milliard," which is comparable to the number one billion in American English and is used in various European languages.
Add the area to the conversion factor to convert a square yard measurement to a square foot measurement. The square yards multiplied by nine gives the area in square feet.
Add the length to the conversion factor to convert a yard measurement to a meter measurement. The yards times 0.9144 converts to the length in meters.

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On January 1, 2021, Clark Corporation sold an $800,000, 7% bond issued for $767,320. The bonds are to pay interest quarterly and

serg [7]

Clark Corporation's total cost of borrowing $800,000, 7% bonds issued for $767,320 for 5 years is $344,702.87.

<h3>What is the total cost of borrowing?</h3>

The total cost of borrowing includes the bond discounts and the interest expenses.

In this case, the total cost of borrowing is $344,702.87. However, this is only the pre-tax cost.

<h3>Data and Calculations:</h3>

Face value = $800,000

Interest rate = 7%

Bonds proceeds = $767,320

Bonds discounts = $32,680 ($800,000 - $767,320)

Maturity period = 5 years

Market rate = 8%

Interest payment = quarterly

Quarter interest expense = $14,000 ($800,000 x 7% x 1/4)

N (# of periods) = 20 (5 x 4)

I/Y (Interest per year) = 8%

PMT (Periodic Payment) = $14,000 ($800,000 x 7% x 1/4)

FV (Future Value) = $800,000

<u>Results:</u>

PV = $767,297.13

Sum of all periodic payments = $280,000 ($14,000 x 20)

Total Interest = $312,702.87

Total cost of borrowing = $344,702.87 ($32,680 + $312,702.87)

Thus, Clark Corporation's total cost of borrowing $800,000, 7% bonds issued for $767,320 for 5 years is $344,702.87.

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6 0

2 years ago

Teller Co. is planning to sell 900 boxes of ceramic tile, with production estimated at 870 boxes during May. Each box of tile re

Shtirlitz [24]

Answer:

Budgeted overhead= $2,877.6

Explanation:

Giving the following information:

<u>Direct labor required:</u>

Production= 870 units

Direct labor hours= 870*0.25= 218 hours

Direct labor cost= $12 an hour

Manufacturing overhead is applied at a rate of 110% of direct labor costs.

<u>To calculate the allocated overhead for the period, we need to use the following formula:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Direct labor cost= 218*12= $2,616

Allocated MOH= 1.1*2,616= $2,877.6

5 0

4 years ago

When are product costs included on the income statement?

ioda

Answer:

The correct answer is D. When the product is sold and delivered to a customer.

Explanation:

It is recognized at the time of the sale, because the company receives an income as a result of the recovery of its cost plus the established profit margin. When the sale has not been made, it remains within the product inventories until the sale occurs and becomes an operational income.

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3 years ago

A fitness center is planning to invest in a specialized exercise equipment. This equipment is highly effective, but the club mem

Kamila [148]

Answer:

job/technical training

Explanation:

Based on the scenario being described within the question it can be said that this is best classified as job/technical training. This refers to a specifically designed training program that teaches individuals the specific skills needed to perform their daily job tasks that the managers need them to perform, such as learning to operate specific machinery or information systems.

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4 years ago

Rick loses his job and immediately begins looking for another. Ceteris paribus, the unemployment rate:________.A. increases, and

almond37 [142]

Answer:

B. increases, and the labor-force participation rate is unaffected

Explanation:

Rick loses his job and immediately begins looking for another. Definitely, the unemployment rate has increase. He has been sent back to the labor market. Rick is definitely unemployed because he lost his job and this means an increase in the employment rate. Note that unemployment rate is the percentage of the labor force that is unemployed and are actively looking for a job.

The labor force participation rate is the percentage number of people who are of working age both the employed and the once actively looking for a job. The labor force participation rate is definitely unaffected as Rick lost his job.

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3 years ago

Read 2 more answers