Answer: 1. $690 (favorable)
2. $9045 (favorable)
Explanation: These can be computed as follows :-
Labor rate variance = Actual labor cost - (standard rate * actual hours)
= $139,380 - ( $20.1 * 6900 hours )
= $690 (favorable)
.
Labor efficiency variance = ( Actual hours - standard hours ) * (standard rate )
= [6900 hours - (1500 units * 4.3 hours) ] * ($20.1)
= $9045 (favorable)
Answer:
Times interest earned =1.25; Cash coverage ratio=1.5
Explanation:
Hi, we need to use the following 2 formulas in order to find the results above.
In the second formula, you can see an item called "non interest expenses", this means any expense that does not require a money outflow, this is typically the amortizations and the depreciations, since we only have depreciation, this is what we are going to use to get the cash coverage ratio. That is as follows.
Answer:
1) The monthly payments if the mortgage is 30 years will be $2,270
2)The monthly payments if the mortgage is 15 years will be $3,267
Explanation:
The house is worth 500,000, John pays 100,000 down payment which means that 400,000 payment is left. We need to find out that if the present value of the payment is 400,000 then what will the monthly payments be for 30,000 in order to have a present value of 400,000.
The Present value is 400,000, the interest rate is 5.5% but because the payments are monthly we will divide it by 12 (5.5/12=0.458). The Number of compounding periods will be the number of months in 30 years so N = 30*12=360. The future value is 0 as there is no lump sum payment at the end.
We input the following information in a financial calculator in order to find the the payment.
PV= 400,000
FV=0
N=360
I=0.458
Compute PMT=2,270
Now in order to find the payments for a 15 year mortgage we will replace n=360 with n=15*12= 180.
PV= 400,000
FV=0
N=180
I=0.458
Compute PMT=3,267
Answer:
The cost of the origination fee is $200 in dollar terms.
Explanation:
1 point is 1% which translates to 1/100,hence 0.2 point is the same 0.2/100
The cost of the original fee in dollar terms is calculated thus:
0.2/100*$200000=$400
As a result, the origination fee is $200 in dollar terms
Origination fee or processing fee is an upfront fee charged by a lender in a bid to recover loan processing administration costs from borrowers.
The points charged as origination fee differs from one lender to another,it would make sense to say that the higher the mortgage amount or loan the lower the origination fee in percentage terms.
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