Answer:
$926.25
Explanation:
First, we obtain the assessed value:
$650,000 * 60% = $390,000
Now, we obtain the benchmark for determining the yearly tax. We divide the assessed value by one hundred because the local tax rate is $2.85 per one hundred dollars of assessed value. In other words, one hundred dollars is the benchmark:
$390,000 / 100 = $3,900
Now, to find the total tax paid in a year we simply multiply the local tax rate by the benchmark:
$2.85 x 3,900 = $11,115
Finally, we divided the yearly value by twelve to obtain the monthly value:
$11,115 / 12 = $926.25
The act as <span>intermediaries for borrowers and lenders.
Let's take bank for example.
People who had excess money for saving will put their money on the bank because it considerably saver compared to keeping it laying around in the house.
People who need some money will come to the bank to ask for loan. The money that loaned by the bank is actually the allocation from the money that bank get from people's saving.</span>
Answer:
(a) 6.206%
(b) 6.54%
(c) 6.58%
Explanation:
Given that,
Commercial paper value = $3 million
Currently selling at 97.50 percent of its face value.
Days from maturity = 145
(a) Discount yield:
= 
= 
= 0.025 × 2.4827
= 0.06206 or 6.206%
(b) Bond equivalent yield:
= 
= 
= 0.026 × 2.52
= 0.0654 or 6.54%
(c) Effective annual return:
Future value = Present value × 
$100 = $97.50 × 
1.0658 = 1 + r
0.0658 or 6.58% = r
Answer:
d.$72 per machine hour
Explanation:
Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity
therefore,
Predetermined overhead rate = $11,742,000 ÷ 164,000
= $71.598 or $72
The predetermined overhead rate based on machine hours is $72 per machine hour.
Answer:
a. $412,000
Explanation:
Conversion cost is the combination of direct labor and manufacturing overhead which directly or indirectly are necessary to produce a product other than the direct raw materials.
We know,
<em>Conversion costs = Direct Labor + Manufacturing Overhead</em>
Here,
Manufacturing overhead = Indirect material + Indirect Labor + Indirect overhead (including variable and fixed overhead)
Given,
Direct labor = $195,300
Manufacturing overhead = Factory overhead = $216,700
Selling expenses will not be included because it is not a direct or indirect overhead expense.
Therefore,
<em>Conversion costs = </em>$195,300 + $216,700
<em>Conversion costs = </em>$412,000
