Coming Home Corporation uses a weighted-average process costing system to collect costs related to production. The following sel
ected information relates to production for October: Materials Conversion Units completed and transferred out 49,000 49,000 Equivalent units: work in process, October 31 11,000 5,000 Total equivalent units 60,000 54,000 Materials Conversion Costs in work in process on October 1 $ 9,000 $ 5,400 Costs added to production during October 243,000 513,000 Total cost $ 252,000 $ 518,400 All materials at Coming Home are added at the beginning of the production process. What total amount of cost should be assigned to the units completed and transferred out during October? a. $676,200 b. $667,800 c. $642,000 d. $690,000
1 answer:
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The compound interest formula is: 
Where:
A is the amount you will have.
P is the money you are investing.
r: is the interest rate (in decimals)
n: number of times the interest is compounded per year
t: time (in years)
The first thing is converting the rate from percentage to decimal:
Since the interest is compounded every month and a year has 12 months n=12.
Now we can replace the values in our formula:
We can simplify the exponents to get:
Finally, we can use our calculator to get 288463.33
After 18 your balance in your bank account will be $288463.33
Where:
A is the amount you will have.
P is the money you are investing.
r: is the interest rate (in decimals)
n: number of times the interest is compounded per year
t: time (in years)
The first thing is converting the rate from percentage to decimal:
Since the interest is compounded every month and a year has 12 months n=12.
Now we can replace the values in our formula:
We can simplify the exponents to get:
Finally, we can use our calculator to get 288463.33
After 18 your balance in your bank account will be $288463.33