Answer:
Penalty APR and When It Applies
Explanation:
A Schumer Box is a table that explains the costs of a credit card in the United States. It has sections like:
-Annual Percentage Rate (APR) for Purchases: It indicates the annual rate that you will be charged when you use the credit card to make a purchase.
-How to Avoid Paying Interest on Purchases: It indicates the specific situation in which you would be exempted from paying interest on a purchase.
-Penalty APR and When It Applies: It indicates the specific situations in which you would have to pay a higher interest rate as an infraction for things like making a late payment.
-Variable Rate and Balance Computation: It indicates how the interest rate can change and how the finance charge is calculated.
According to this, the answer is that the section of a Schumer Box that discusses what happens when a payment is late is Penalty APR and When It Applies.
Answer:
Flower: $500,000
Planter: $300,000
Explanation:
We distribute the expected cost over the cost driver:
Expected manufacturing overhead: 800,000
Flowe 20,000 1 hour
Planter 6,000 2 hour
Expected direct labor (20,000 + 12,000) 32,000
800,000 / 32,000 = 25
then we aply the rate to the labor hours of each product
Flower: 20,000 x 25 = 500,000
Planter: 12,000 x 25 = 300,000
Answer:
Break-even sales in dollar value = $10,667
Explanation:
Since the company's operating income is $0, the company makes no profit and no loss. Therefore, the company's total sales is equal to total expenses. It means the company is in break-even point. However, as the variable expense is not given, we have to use contribution margin ratio to calculate the break-even sales.
We know,
Break-even sales in dollar value = Fixed expenses ÷ Contribution margin ratio
Given,
Contribution margin ratio = 45%
Fixed expenses = $4,800
Putting the values into the above formula, we can get,
Break-even sales in dollar value = $4,800 ÷ 45%
Break-even sales in dollar value = $10,667
Answer:
Inventory at year-end: 344,000
Explanation:
The inventory should add the purchased goods from Pelzer as the possesion is transfer at shipping point.
The sales units to Alvarez should also be included as teh transfer is not complete yet. The term on this transaction are at destination.
Total inventory in transit: 28,940 + 39,800 = 68,740
on hand: $ 275,260
in-transit: $<u> 68, 740 </u>
Total: $ 344,000
Answer: False
Explanation: The reason is that Retained earning are considered as opportunity cost. Because retained earnings could be used to distribute profit among shareholders and they could invest somewhere to get return. Or retained earnings could be retained by the firm to invest in the company activities itself.
