A. 6%
Calculator entries are N = 10, PV = -1,055.84, PMT = 60, FV = 1,100, CPT I/Y 6
To find 20% of the value of the goods,
1,123 x 20% (this is the same as 1,123 x 0.2)
= 224.6
Add the salary and the commission,
425.00 + 224.6
= 649.60
Therefore Jill was paid $649.60 last week
Answer:
The answer is: The overhead variance was $1,700 and it was overapplied
Explanation:
Victryl's estimated overhead cost per labor hour was:
$700,000 / 35,000 = $20 per labor hour
If during February, Victryl had 5,000 direct labor hours, then its estimated cost should have been: $20 x 5,000 = $100,000 estimated overhead cost
The actual overhead cost was $98,300, which is $1,700 less than the estimated cost.
Answer:
Option (B) is correct.
Explanation:
Contribution per unit
:
= Selling Price per unit – Variable costs per unit
= $35 - $21
= $14 per unit
Contribution margin ratio
:
= Contribution ÷ Sales
= $14 ÷ $35
= 0.40 or 40%
So, Break even point in Sales dollars
:
= Fixed costs ÷ Contribution margin ratio
= $78,000 ÷ 40%
= $ 195,000