Answer:
$2,800
Explanation:
An interest only loan represents a type of loan offer where a borrower is only expected to pay the interest either for some of the term of the loan as agreed or for all of the terms of the loan. However, the principal amount that is collected remains constant all through the agreed interest -only period.
Since the loan obtained by John's Auto Repair is Interest Only, it means that the principal of $35,000 remains constant.
Hence, in the 8th year, John is expected to pay only the interest for the period =
0.08 x $35,000
= $2,800
In order to make sure that audiences can correctly identify which words you are using, it is necessary to make sure you have correct Pronunciation.
Answer:C.TINSTAAFL Rating
Explanation:
Answer:
$192 million; $153.60 million; $38.40 million
Explanation:
Given that,
Direct material purchased = $80 million
Direct labor costs = $51 million
Manufacturing overhead = $77 million
Percent of the work-in-process completed = 80%
(1) Transfers-In:
= Direct materials + Direct labor costs + Manufacturing overhead
= (80% × $80 million) + $51 million + $77 million
= $64 million + $51 million + $77 million
= $192 million
(2) Transfer-out:
= Transfers-In × percent of the work-in-process completed
= $ 192 million × 80 %
= $ 153.60 million
(3) Ending Balance:
= Transfers-In - Transfer-out
= $192 million - $ 153.60 million
= $38.40
Answer:
Margin of safety= $260,000
Explanation:
Giving the following information:
Sales= $485,000
Break-even point in dollars= $225,000
<u>To calculate the break-even point in sales dollars, we need to use the following formula:</u>
Margin of safety= (current sales level - break-even point)
Margin of safety= 485,000 - 225,000
Margin of safety= $260,000
