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3 years ago

How is a line of credit similar to a credit card?

Business

2 answers:

Aloiza [94]3 years ago

8 0

A. Interest is charged only on the amount you actually borrow

Leviafan [203]3 years ago

3 0

The answer for the question that is being asked and shown above is that: "a. Interest is charged only on the amount you actually borrow." a line of credit similar to a credit card is that <span>a. Interest is charged only on the amount you actually borrow. </span>

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Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a

kenny6666 [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Schell has a total of $39,060 in overhead.

Direct labor hours:

Standard= 400

Deluxe= 200

Machine hours:

Standard= 4,150

Deluxe= 3,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

1) Direct labor hours as allocation rate

Estimated manufacturing overhead rate= 39,060/600= $65.1 per direct labor hour

Now, we can allocate to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard= 65.1*400= $26,040

Deluxe= 65.1*200= $13,020

2) Machine hour as allocation rate:

Estimated manufacturing overhead rate= 39,060/7,150= $5.46 per machine hour

Now, we can allocate to each product line:

Standard= 5.46* 4,150= $22,659

Deluxe= 5.46*3,000= $16,380

7 0

3 years ago

Comprehensive problem 5 part

Nat2105 [25]

<span>materials cost behavior units per case cos.</span>

4 0

3 years ago

Read 2 more answers

Which memo provided advanced general principles to consider in cases involving corporate wrongdoing in that it makes clear that

Gekata [30.6K]

Answer:

E. Thompson memo

Explanation:

The name 'Thompson Memo' was used to honor the Deputy attorney General that first issued the memo in 2003. His name is Larry Thompson.

The memo was created to distinguished the line between the 'honest mistake' that the company might do and an actual wrongdoings that must be punished by law.

The memo consist of several criteria that future prosecutors can use to determine whether a company should be punished or not. Those criterias are:

- The nature/seriousness of the offense

- Whether they did a similar 'mistake in the past

- Whether the company admit the mistake by their own or whether it's exposed by other people

- Whether the company proposed a remedial action.

8 0

3 years ago

A ________ is a senior manager who oversees the use of IT in the firm.A) CEOB) CFOC) CIOD) CTOE) CKO

Brums [2.3K]

Answer:

The correct answer is letter "C": CIO.

Explanation:

The CIO or Chief Information Officer is the high executive responsible for all the Information Technology (IT) systems of a company at the process level and from the planning point of view. The CIO analyses the benefits the firm can take from new technologies, identifying which ones are of the interest of the company and evaluating its functioning.

8 0

3 years ago

An investor deposits $35,000 into an IRA for her retirement in 25 years.The account pays 3.5% interest compounded continuously.

sergeinik [125]

Answer:

The value of her account after 25 years, if she stays true to the plan is:

= $152,823.31.

Explanation:

a) Data and Calculations:

Initial deposits = $35,000

Period of investment = 25 years

Interest rate per year = 3.5% compounded continuously

Annual deposit into the same account = $1,800

Period of investment = 25 at 3.5% interest rate

Total value of her IRA account after 25 years:

Future value of $35,000 = $82,713.57

Future value of $1,800 yearly = 70,109.74

Total future value = $152,823.31

From an online financial calculator:

N (# of periods) 25

I/Y (Interest per year) 3.5

PV (Present Value) 35000

PMT (Periodic Payment) 0

Results

FV = $82,713.57

Total Interest $47,713.57

N (# of periods) 25

I/Y (Interest per year) 3.5

PV (Present Value) 0

PMT (Periodic Payment) 1800

Results

FV = $70,109.74

Sum of all periodic payments $45,000.00

Total Interest $25,109.74

7 0

2 years ago