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3 years ago

Please help me answer this personal finance question it's really important

Business

1 answer:

Luba_88 [7]3 years ago

8 0

Answer and explanation:

Yes, I would purchase the warranty. The average vehicle warranty is $700 per year in the U.S. depending on the type of car, brand, and mileage. Those $700 make $3,500 ($700 x 5 = $3,500) per year but the sales representative is offering the warranty for $2,000 only with the same features as a manufacturer warranty. Besides, not having a warranty implies paying for every car repair of the vehicle which can be more expensive than $2,000 depending on the damage.

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Marine, Inc., manufactures a product that is available in both a flexible and a rigid model. The company has made the rigid mode

Viefleur [7K]

Answer:

Estimated manufacturing overhead rate= $32 per direct labor hour

Explanation:

Giving the following information:

At the beginning of the current year, management estimated that $672,000 in overhead costs would be incurred and the company would produce and sell 2,000 units of the flexible model and 10,000 units of the rigid model.

The flexible model requires 3.0 hour(s) of direct labor time per unit, and the rigid model requires 1.50 hour(s).

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

Estimated manufacturing overhead rate= 672,000/(2000*3 + 10000*1.5)= $32 per direct labor hour

8 0

3 years ago

At a large department store, the number of years of employment for a cashier is a normally distributed variable with a mean of 5

Yakvenalex [24]

Answer:

0.0084

Explanation:

For this probability problem, we will have to make use of the normal probability distribution table.

to use the table, we will have to compute a certain value

z = (x- mean) /Standard deviation

z = $\frac{(10 - 5.7)}{1.8}$ = 2.39

Probability he has worked in the store for over 10 years can be obtained by taking the z value of 2.39 to the normal probability distribution table to read off the values.

<em>To do this, on the "z" column, we scan down the value 2.3. we then trace that row until we reach the value under the ".09" column. </em>

This gives us 0.99916

Thus we have P (Z < 2.39) = 0.9916

We subtract the value obtained from the table from 1 to get the probability required.

1 - 0.9916 = 0.0084

The Probability that the employee has worked at the store for over 10 years = 0.0084

4 0

4 years ago

At the start of football season, the ticket office gets very busy the day before the first game. Customers arrive at the rate of

ipn [44]

Answer:

(a) 3.2

(b) 10 minutes

Explanation:

Mean number of customer in service:

= Arrival rate ÷ service rate

= 24 in 60 min ÷ 30 in 60 min

= 24 ÷ 30

= 0.8

a) Average number of people in line:

= (Mean number of customer in service × arrival rate) ÷ (Service rate - arrival rate)

= 0.8 × (24 ÷ 6 )

= 3.2

b) Average time spend at the ticket office is = 10 minutes

c) Proportion of time server is busy:

= Arrival rate ÷ service rate

= (24 in 60 min ÷ 30 in 60 min)

= 24 ÷ 30

= 0.8

7 0

3 years ago

Fuzzy Monkey Technologies, Inc., purchased as a short-term investment $250 million of 8% bonds, dated January 1, on January 1, 2

stealth61 [152]

Answer:

A. 1-Jan-21

Dr Investment in Bond $250

Cr Cash $228

Cr Discount on bond investment $22

30-Jun-21

Dr Cash $10

Dr Discount on bond investment $1.40

Cr To Interest revenue $11.40

31-Dec-21

Dr Cash $10

Dr Discount on bond investment $1.47

Cr Interest revenue $11.47

B. $240 million

C. In Million)

31-Dec-21

Dr Fair value adjustment $9.13

Cr Unrealized holding gain or loss - NI $9.13

D. Net cash flow from operating activities= $208 Outflow

Cash flow from investing activities=$0.00

Explanation:

a. Preparation of the relevant journal entries on the respective dates.

1-Jan-21

Dr Investment in Bond $250

Cr Cash $228

Cr Discount on bond investment $22

($250-$228)

(Being to record the investment in bond )

30-Jun-21

Dr Cash $10

($250 * 8% * 6/12)

Dr Discount on bond investment $1.40

($11.40-$10)

Cr To Interest revenue $11.40

($228*10%*6/12)

(Being to record revenue recognition for bond interest and discount amortized)

31-Dec-21

Dr Cash $10

($250 * 8% * 6/12)

Dr Discount on bond investment $1.47

($11.47-$10)

Cr Interest revenue $11.47

($229.40*10%*6/12)

(Being to record revenue recognition for bond interest and discount amortized)

b. Calculation for what amount will Fuzzy Monkey report its investment in the December 31, 2016, balance sheet

Based on the information given we were told that the fair value of the bonds at December 31, 2021, was the amount of $240 million which means that the amount that Fuzzy monkey will report its investment on December 31, 2021 balance sheet will be the fair value amount of $240 million

c. Preparation of any entry necessary to achieve this reporting objective

(In Million)

31-Dec-21

Dr Fair value adjustment $9.13

($240 - $228 - $1.40 - $1.47)

Cr Unrealized holding gain or loss - NI $9.13

(Being to record adjusting entry to record investment at fair value)

d. Calculation for How would Fuzzy Monkey's 2016 statement of cash flows be affected by this investment

STATEMENT OF CASH FLOW (Partial) For 2021

(In million)

Cash flow from operating activities

Short term investment $228

Less: Interest received ($20)

Net cash flow from operating activities $208 Outflow

Cash flow from investing activities $0.00

6 0

3 years ago

What time is the rocket launch at cape canaveral?

Debora [2.8K]

30-minute launch window opens at 10:56 p.m.

6 0

3 years ago