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Debora [2.8K]
3 years ago
7

On June 1, 2013 Oakcrest Company signed a three year $110000, note payable with 9% interest. Interest is due on June 1 of each y

ear beginning in 2014. What amount of interest expense should be reported on the income statement for the year ended December 31, 2013?
Business
1 answer:
seropon [69]3 years ago
8 0

Answer:

$5,775

Explanation:

The computation of the interest payment is shown below:

= Note payable amount × rate of interest × number of months ÷ total number of months in a year

= $110,000 × 9% × 7 months ÷ 12 months

= $5,775

We simply multiplied with the note payable , interest rate, and the given number of months to find out the interest expense

And, the seven months is calculated from June 1, 2013 to December 31, 2013

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has a standard of 2 direct labor hours per unit. The standard wage rate of each worker is $32.50 per hour. In July, the company
ikadub [295]

Answer:

$130 Favourable

Explanation:

Given the above information,

Standard hours = 2 × 4770 = 9,540

Actual hours = 8,940

Standard rate = $32.50

Then, Direct labor efficiency variance is computed as

= ( Standard hours allowed for production - Actual hours taken) × Standard rate per direct labor hour

= [(2 × 4,770) - 8,940] × $32.50

= [9,540 - 8,940] × $32.50

= 600 × $32.50

= $130 Favourable

6 0
3 years ago
Miles is three years old and his grandparents have given him money to spend at the toy store as a birthday present. Miles' numbe
KATRIN_1 [288]

Answer:

The correct answer is Fire trucks.

Explanation:

According to the scenario, the given data are as follows:

1. Building blocks buy = $50

Increase in units = 100 units

2. Fire trucks buy = $20

Increase in units = 80 units

( which means in $50 Fire trucks can be bought 2.5× existing units)

So, In $50 Fire trucks increase in unit = 80 units × 2.5 = 200 units

3. Trains buy = $5

Increase in units = 15

( which means in $50 Trains can be bought 10× existing units)

So, In $50 Trains increase in unit = 15 units × 10 = 150 units

Hence, Fire trucks will give the maximum utility.

7 0
3 years ago
In the circular flow of expenditure and​ income, why must the total value of production in an economy equal the total value of​
Vinvika [58]
<h3><u>Option D</u></h3>

Every penny spent on a good or service must end up as​ someone's income so the total value of production in an economy equal the total value of​ income

<h3><u>Explanation:</u></h3>

The circular flow model describes how cash flows through society.  Cash moves from yielders to workers as payments and runs back to yielders as cash for products.  Since all the value created must refer to someone in the class of a request on the value, the national product is equivalent to national income.

Each action in an economy comprises a buyer and a seller. Households spend cash for acquiring goods and services exhibited. Firms make a production settlement. Households are employing units which incorporate output created in the business firms

7 0
3 years ago
When Scott says, “Human resources is one of the most important things we do in our business,” what is he referring to?
vfiekz [6]
<span>Scott's reference to Human Resources refers to the treatment of employees. Employees are important to a business for numerous reasons. Retention of employees reduces the costs associated with the on boarding of new hires. Employees that feel invested in also often form loyalty for their employer and may contribute more than expected to their tasks.</span>
6 0
3 years ago
1.Explain mountain tourism?<br>2.Explain inland tourism?​
gulaghasi [49]
1. Mountain Tourism is a type of "tourism activity which takes place in a defined and limited geographical space such as hills or mountains with distinctive characteristics and attributes that are inherent to a specific landscape, topography, climate, biodiversity (flora and fauna) and local community.


2.
Inland trips means trips to the part of the country away from the coast, without specifying who is taking those trips. Such trips may let the world know about your country, or they may not.

Foreign trips. on the other hand, is fatally ambiguous. It can mean, and has been taken by others here to mean, trips by foreigners to your country, which would be what is asked for. But technically, a foreign trip is just a trip to a foreign country and the trip-takers should be presumed to be your fellow-countrymen; if they travel abroad, that would give them information about the world, not the other way about.

So the choice is between a bad answer and a very bad answer. I would say inland is less bad, but if the examiner thinks one choice is correct, you need to know how he thinks, not how the English language works.


I hope some of that may help I found it off the web.. sorry if it dosent
7 0
3 years ago
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