The probability that an audit team will express an inappropriate audit opinion when the financial statements are materially miss
1 answer:
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Finishing this job could cost as low as $222,000 in total. If the project is finished in 45 weeks, the final cost will be $400,000. If the project is completed in 46 weeks, the overall cost will be $405,000. The project is finished in 45 weeks, which has the lowest overall cost.
This project can be finished for as little as $222,000 overall. This is so that there is no penalty if the project is finished in 45 weeks. A $5,000 fine is imposed if the project is finished in less than 46 weeks. Thus, completing the project in 45 weeks results in the lowest overall cost. Examining the costs associated with each action is one method to approach this. The first activity will cost $40,000 to complete. The second activity will cost $60,000 to complete. The third activity will set you back $80,000. The fourth action will set you back $100,000. The sixth activity will set you back $120,000. The project will cost $400,000 in total. The overall cost, if the project takes 45 weeks to complete, is $400,000. The whole expense is $405,000 if the project is finished in 46 weeks. Thus, completing the project in 45 weeks results in the lowest overall cost.
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Answer:
a.- $ 3,529.82
b.- $ 3,512.11
c.- $ 132,77
Explanation:
In each case, we must calculate the value of their current savings and the additional investment.
The saving are the same for each scenario so let's calculate that first:
Principal 1,500.00
time 15 years
rate 0.01000
Amount 1,741.45
Then we add the funds generated from the investment:
a.- 110 annuity due for 15 month:
C $ 110
time 15 months
rate 0.01
FV $1,788.3651
We add the savings and get a total of: $ 3,529.82
b.- 110 ordinary annuity
C $ 110
time 15 months
rate 0.01
FV $1,770.6585
Plus, original savings of 1,741.45 = 3,512.11
c.-
If they need 3,900 then the fund must cover the difference between these and the savings future value:
3,900 - 1,741.45 = 2,158.55
Now we calculate the PMT, considering the payment are at the beginning:
FV $ 2,158.55
time 15
rate 0.01
C $ 132.770