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3 years ago

Assignment 2 (Due Week 3)

Business

1 answer:

Nikolay [14]3 years ago

5 0

Explanation:

Hi a warm greetings to you. This is " Your name" from one of the top companies in selling "car accessories". Our team who is very creative has come out with a new car accessories which would safe guard the person who drives the car , passenger, the car and also the person on the road. Let me not surprise you for more time, its an accessories which would give a beep if the drive fall asleep while driving. Isn't not essential to have to safe guard property and life? I know you would says yes like all our esteemed customers. We care for you and your lovely properties. Would you be interested to buy and we can deliver it within short span of time.

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It's the end of the accounting period and no electric bill has been received (but expense has been incurred. ; you should record

Sati [7]

You should make note of the fact that no bill was received but you did make the payment.

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3 years ago

Read 2 more answers

Jim has an annual income of $180,000. Jim is looking to buy a house with monthly property taxes of $140 and monthly homeowners i

MariettaO [177]

Answer:

$787,471.02

Explanation:

Given:

Jim's annual income = $180,000

Monthly property taxes = $140

Monthly homeowners insurance = $70

Monthly student loan payments = $178

Maximum front end DTI limit = 28%

Maximum back end DTI limit = 36%

Amortizing period = 30 years = 360 months

annual rate = 4.5% compounded monthly

Now,

Monthly salary = $\frac{\textup{Annual income}}{\textup{12 months}}$

Monthly salary = $\frac{\textup{180,000}}{\textup{12 months}}$

Monthly salary = $15,000

Maximum front end DTI limit

= (Maximum Monthly loan payment + monthly property taxes + monthly homeowner's insurance) ÷ Monthly income

0.28 × $15,000 = Maximum Monthly loan payment + $140 + $70

Maximum Monthly loan payment = $4,200 - $140 - $70

= $3,990

and,

Maximum back end DTI limit =

0.36 × $15,000 = Maximum Monthly loan payment + $140 + $70 + $178

Maximum Monthly loan payment = $5,400 - $140 - $70 - $178

= $5,012

Now,

The monthly payment = minimum of [ $3990, $5012 ]

therefore,

The monthly payment = $3,990

Thus,

The maximum amount of loan = Monthly payment × $[\frac{(1-(1+\frac{r}{k})^{-kn})}{(\frac{r}{k})}]$

here,

k = 12 when compounded monthly

n = 30 years

r = 4.5% = 0.045

The maximum amount of loan = $3,990 × $[\frac{(1-(1+\frac{0.045}{12})^{-12\times30})}{(\frac{0.045}{12})}]$

The maximum amount of loan = $787,471.02

8 0

3 years ago

Mountaintop golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $47,000,00

MatroZZZ [7]

Answer:

47.4%

Explanation:

A. Expected golfers

440,000

B Revenue (440,000 × $84)

$36,960,000

C. Variable cost (440,000 × $17)

$7,480,000

D = B - C Contribution margin

$29,480,000

E Fixed cost

$20,000,000

F = D - E Profit

$9,480,000

G Assets

H = F/G × 100 Return on assets

47.4%

7 0

3 years ago

During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $6 per

kupik [55]

Answer:

$192,000

Explanation:

Calculation for What is the value of ending inventory under variable costing

Using this formula

Value of ending inventory =[(Direct materials+Direct labor+Variable overhead+(Fixed overhead/Units produced)×Ending units in inventory]

Let plug in the formula

Value of ending inventory=[($6+ $4+ $5 + ($234,000/26,000 units) ×8,000 units]

Value of ending inventory= ($15 units+$9 units)×8,000 units

Value of ending inventory=$24 per units×8,000 units

Value of ending inventory = $192,000

Therefore the value of ending inventory under variable costing will be $192,000

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2 years ago

based on this information, the amount of overhead allocated to a job that used 300 direct labor hours is $

Amiraneli [1.4K]

The amount of overhead allocated to a job that used 300 direct labor hours is $900.

<h3>Overhead allocated:</h3>

First step is to calculate the predetermined overhead rate per direct labor hour

Using this formula

Predetermined overhead rate=Estimated manufacturing overhead/Estimated direct labor hours

Predetermined overhead rate=$450,000/150,000

Second step is to calculate the overhead allocated

Overhead allocated=Predetermined overhead rate × Direct labor hours

Overhead allocated=$3×300

Overhead allocated=$900

Inconclusion the amount of overhead allocated to a job that used 300 direct labor hours is $900.

Learn more about overhead allocated here:brainly.com/question/15739613

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2 years ago