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tresset_1 [31]
3 years ago
15

Assume the $19,500 Treasury bill, 4% for 15 weeks. Calculate the effective rate of interest.

Business
1 answer:
Svet_ta [14]3 years ago
6 0
The effective interest rate is calculated through the equation,
                               ieff = (1 + i/r)^r - 1
where ieff is the effective interest, i is the nominal interest, and r is the number of 15 weeks in a year. Every year, there are 52 weeks. Thus, there are 3.467 15-weeks approximately. Substituting this into the equation,
                                  ieff  = (1 + 0.04/3.467)^3.467 - 1
                                  ieff = 0.04057
                                     ieff = 4.057%
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8 0
3 years ago
XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 D
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Answer:

Complete question is:

XYZ Company recorded the following information related to their inventory

accounts for 2020:

                         January 1, 2020        December 31, 2020

Direct materials               37,000                   50,000

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for 2020:

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Direct materials purchased ..............................       ?

Depreciation, factory equipment .........................     34,000

Prime costs .............................................    250,000

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Sales commissions .......................................       ?

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Net income ..............................................     10,000

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Additional information:

1.  Direct labor comprised 35% of the conversion costs for 2020.

2.  The actual overhead cost for 2020 was equal to the overhead applied

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A) Calculate XYZ Company's direct labor cost for 2020.

B) Calculate the direct materials purchased by XYZ Company in 2020.

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Answer:

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