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inn [45]
3 years ago
6

Your grandfather put some money into an account for you on the day you were born. You are now 18 years old and are allowed to wi

thdraw the money. The account currently has $ 4 comma 909 in it and pays an interest rate of 3 %. a. How much money would be in the account if you left the money there until your 25th​ birthday? b. What if you left the money until your 65th​ birthday? c. How much money did your grandfather originally put into the​ account?
Business
1 answer:
raketka [301]3 years ago
5 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

Value at 18= $4,909

Interest rate= 3%

To calculate the final value, we need to use the following formula:

FV= PV*(1+i)^n

A) Number of years= 7

FV= 4,909*(1.03^7)= $6,307.45

B) Number of years= 47

FV= 4,909*(1.03^47)= $19,694.39

C) Finally, we need to determine the original investment. We need to isolate the present value from the formula:

PV= FV/(1+i)^n

PV= 4,909/(1.03^18)

PV= $2,883.52

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Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assem
Archy [21]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The predetermined overhead rates:

Assembly= $22 per direct labor-hour

Testing & Packaging= $18.00 per direct labor-hour

The company’s direct labor wage rate is $24.00 per hour.

Job N-60:

Assembly:

Direct materials $390

Direct labor $228

Testing & Packaging:

Direct materials $45

Direct labor $132

1) To calculate the total manufacturing cost, first, we need to allocate overhead. To do that, we need direct labor hours for each department.

<u>Assembly:</u>

Direct labor hours= 228/24= 9.5

<u>Testing:</u>

Direct labor hour= 132/24= 5.5

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

Allocated MOH= 22*9.5 + 18*5.5= $308

Total manufacturing cost= direct material + direct labor + allocated overhead

Total manufacturing cost= (390 + 45) + (228 + 132) + (308)= $1,103

2) Unitary cost= 1,103/10= $110.3

6 0
3 years ago
The Perry Corporation recorded the following budgeted and actual information relating to fixed overhead costs for its Z-Line of
steposvetlana [31]

Answer:

Volume variance= $1,800 unfavorable

Explanation:

Giving the following information:

Standard fixed overhead per direct labor hour $3​

Standard direct labor hours per unit 0.75​

Budgeted production 3100​

Budgeted fixed overhead costs $6975.00​ ​ ​

Actual production in units 3900​

Actual fixed overhead costs incurred $2200.00​

To calculate the fixed overhead volume variance, we need to use the following formula:

Volume variance= budgeted fixed overhead - fixed overhead applied

Volume variance= 6,975 - [3*(3,900*0.75)]

Volume variance= 6,975 - 8,775= $1,800 unfavorable

8 0
2 years ago
Mention three reasons for depreciation​
miskamm [114]
<h2><em>Answer:</em></h2><h2><em>The causes of depreciation are: </em></h2><h2><em>Wear and tear:Any asset will gradually break down over a certain usage period, as parts wear out and need to be replaced. ... </em></h2><h2><em>Perishability: Some assets have an extremely short life span. ... </em></h2><h2><em>Usage rights</em></h2><h2><em>Natural resource usage </em></h2><h2><em>Inefficiency/obsolescence</em></h2><h2><em>ECT</em></h2>

Explanation:

5 0
3 years ago
The use of the Certified Public Accountant title is regulated by Question content area bottom Part 1 A. state law through the li
marshall27 [118]

Answer:

1.C

Explanation:

tama po yan

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5 0
2 years ago
Basically, nations trade: Question 10 options: in order to stockpile goods in case of national disaster or emergency. in order t
IgorLugansk [536]

Answer:

because no nation's economy can produce all of the goods and services that it needs.      

Explanation:

In simple words, International trade refers to the exchange of goods and services that occurs between the nations around the world for over all welfare and development of world economy.One of the major reasons behind such exchange is the opportunity cost of producing the same good differs among nations significantly.

For instance, a product that belongs to the labor intensive industry could be produced in India easily while as technology intensive good is feasible in America.Also due to difference of availability in natural resources some economies might  not be able to produce some goods altogether.                

8 0
3 years ago
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