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Vlada [557]
4 years ago
8

Greg used his credit card to buy exercise equipment. the cost was $826.38. if greg pays $50 a month for 20 months, the total int

erest will be $139.33. greg decided instead to pay only the minimum amount each month. that will take him 124 months and the total interest will be $1,038.08. how much would greg have saved if he had paid $50 a month instead of the minimum amount?
Business
2 answers:
aev [14]4 years ago
8 0
He would have saved 898.75 if he would have payed the 50
Iteru [2.4K]4 years ago
5 0

Answer:

898.75

Explanation:

You might be interested in
A long term care facility purchases at least 85% of its food and supplies from one distributor. this is an example of which type
Digiron [165]

<span>This long term care facility purchases at least 85% of its food and supplies from one distributor and it’s an example of prime vending. A prime vending is a type of purchasing that has gained acceptance and popularity among restaurant and non-commercial buyers. It is also a service which people or the workers do.</span>

8 0
3 years ago
Gustavson Corporation uses the direct method to allocate service department costs to operating departments. The company has two
trapecia [35]

Answer:

C) $340,240

Explanation:

                                     Service Department  Operating Department

                                  Administrative Facilities  Assembly Wholesaling

Departmental costs $26,840     $59,400   $183,430   $321,190

Employee time (hours)      4,000       2,000     29,000 15,000

Space occupied - sq ft     2,000       2,000     30,000  6,000

total administrative costs = $26,840

total employee hours = 29,000 + 15,000 = 44,000

administrative cost per employee hour = $26,840 / 44,000 = $0.61

total facilities costs = $59,400

total square feet = 30,000 + 6,000 = 36,000

administrative cost per employee hour = $59,400 / 36,000 = $1.65

total Wholesaling Department cost = $321,190 + ($0.61 x 15,000) + ($1.65 x 6,000) = $321,190 + $9,150 + $9,900 = $340,240

5 0
3 years ago
According to zillow, the typical selling price of single-family homes for sale in Corvallis, Oregon in Spring 2018 are provided
Degger [83]
Idk just need points
8 0
4 years ago
Journalize the following transactions for Griffin Company. Assume a perpetual inventory system. Also, assume a constant gross pr
joja [24]

Answer:

1) October 1:

1.1

Debit Cost of Goods sold $3,600

Credit Merchandise $3,600

1.2

Debit Cash $6,000

Credit Revenue $6,000

2) October 7

2.1.

Debit Revenue $670

Credit Cash $670

2.2.

Debit Merchandise $402

Credit Cost of Goods sold $402

Explanation:

1. October 1: when sold goods, the company recorded Cost of Goods sold and revenue:

1.1

Debit Cost of Goods sold $3,600

Credit Merchandise $3,600

1.2

Debit Cash $6,000

Credit Revenue $6,000

2. October 7

The percentage of revenue that merchandise returned = $670/$6,000 = 11.17%

Assume a constant gross profit ratio for all items sold.

Cost of returned merchandise = $3,600 x 11.17% = $402

2.1.

Debit Revenue $670

Credit Cash $670

2.2.

Debit Merchandise $402

Credit Cost of Goods sold $402

5 0
3 years ago
Widgeon Co. manufactures three products: Bales, Tales, and Wales. The selling prices are $55, $78, and $32, respectively. The va
klemol [59]

Answer:

Contribution = $35 X 2,00 = $7,000

But it has no warrant of demand therefore this additional contribution can only be realized on sale of 2,00 units.

Explanation:

Provided

Products                           Bales         Tales            Wales

Selling Price                      $55             $78               $32

Less: Variable Cost           $20             $50               $15

Contribution per unit =      $35             $28               $17

Hours per unit required       5                  7                   1

Contribution per hour        $35/5        $28/7             $17/1

                                              $7             $4                   $17

Second highest contribution margin per hour is of Bales, first is of Wales. We need to produce and sale the product with second highest margin per hour that is Bales, but since the first 1,000 units were used to produce goods with highest contribution margin per unit, and provided here is no warrant of its demand, it shall not be produced any further.

Now Wales shall be produced as it has highest contribution margin per hour.

Units produced within 1,000 hours of Wales = 1,000/1 hours = 1,000 units.

Contribution = 1,000 units of Wales X $17 = $17,000.

But it is asked - maximum additional contribution margin that can be realized by utilizing the remaining 1,000 hours on the product with the second highest contribution margin per hour is of Bales in that case

No of units = 1,000/5 = 2,00 units

Contribution = $35 X 2,00 = $7,000

But it has no warrant of demand therefore this additional contribution can only be realized on sale of 2,00 units.

3 0
3 years ago
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