Answer:
Simple interest is based on the principal amount of a loan or deposit, while compound interest is based on the principal amount and the interest that accumulates on it in every period. Since simple interest is calculated only on the principal amount of a loan or deposit, it's easier to determine than compound interest
Explanation:
Answer:
<u>Slapshot Company</u>
<u>Income statement for the month of June</u>
Sales ( 1,890 x $360) $680,400
Less Costs of Sales ($378,000)
Gross Profit $302,400
Selling Costs :
Commissions $68,040
Other Selling Expense $64,700
Administrative Expense $53,800 ($186,540)
Net Income $115,860
Explanation:
The Income statement shows the <em>Profit</em> earned during the reporting period. This is determined as Gross Profit (Sales - Cost of Sales) minus the Operating Expenses.
Answer:
$18,910.00
Explanation:
Monthly rent $1240
Extra monthly charge $160
Electricity $90
Other utilities $860 per year
Insurance $170 per year
The monthly rent per year will be
=$1240 x 12
=$14,880
Parking charges per year
=$160 x 12
=$1,920
Electricity charges per year
=$90 x 12
=$1,080
Other utilities per year
=$860
Insurance per year
=$170
The annual cost will be
=$14,880 + $1,920 + $1,080 + $860 + $170
=$18,910.00
Answer:
The correct answer is C.
Explanation:
Giving the following information:
The actual quantity of direct materials purchased 20,000 pounds.
standard price of direct materials $ 7.00 per pound.
Material price variance $ 5,000 Unfavorable.
Material quantity variance S 2,500 Favorable.
Direct material price variance= (standard price - actual price)*actual quantity
-5,000= (7 - AP)*20,000
5,000= 140,000 - 20,000AP
20,000= 145,000AP
Actual price= 7.25
Banks and Credit Unions usually charge the lowest rates on loans.
