Answer:
a. Asset Turnover 20Y3
= Sales / Average assets
= 2,385,000 / [ (770,000 + 820,000) / 2]
= 2,385,000 / 795,000
= 3.0
Asset Turnover 20Y2
= 2,015,500 / [ (620,000 + 770,000) / 2]
= 2,015,500 / 695,000
= 2.9
b. The change is Favorable because it means that the assets are bringing in more sales per dollar value of assets to the company.
Answer: 15
Explanation:
40 hours
For covered, nonexempt employees, the Fair Labor Standards Act (FLSA) requires overtime pay (PDF) to be at least one and one-half times an employee's regular rate of pay after 40 hours of work in a workweek.
Overtime | U.S. Department of Labor
https://www.dol.gov/general/topic/workhours/overtime
Answer:
The equivalent units of ending inventory is 17,280 units as it is calculated and explained below.
Explanation:
It is very clear that the 15,600 units were completed 100%,while the remaining 4,800 units left in the process were 35% complete,on that basis,equivalent units of ending inventory refers the addition of the completed units transferred out and the equivalent completed proportion of the items not yet completed.
From the foregoing,the equivalent units of ending inventory is calculated thus:
Completed units 15600*100% 15,600 units
Uncompleted units 4800*35% 1,680 units
Equivalent units 17,280 units
Besides, with the equivalent units known,actual cost per unit of completed can now be computed easily.
Answer:
Interest = $75.90
Principal = $347.64
Explanation:
First find the payment that is required per month. It will be an Annuity payment as the present value of the loan is given.
The loan is for 5 years compounded monthly so period is;
= 5 years * 12 months
= 60
Interest = 4/12
Present Value of Annuity= Payment * (1 - (1 + r) ^ -n)/r
23,000 = Payment * (1 - ( 1 + 4/12%) ^ -⁶⁰)/ 4/12%
23,000 = Payment * 54.304
Payment = 23,000/54.304
= $423.54
Interest Payment is;
= 4/12% * 23,000
= $75.90
Amount going towards Principal;
= 423.54 - 75.90
= $347.64
