The down payment is an initial payment made when something is bought on credit. It usually depends on the type of house or any other form of object
Answer:
$2,430F
Explanation:
The formulae for labor rate variance is given as (Actual rate - Standard rate) × Actual hours worked.
Labor rate variance = (Actual rate - Standard rate) × Actual hours worked
Given that;
Actual rate = Actual total labor cost ÷ Actual hours worked
= $119,880 ÷ 8,100
= $14.8 per hour
Standard rate = $15.10 per hour
Actual hours worked = 8,100
Labor rate variance = ($14.8 - $15.10) × 8,100
Labor rate variance $2,430F
Answer:
The amount of interest revenue that should be recorded for year 1 is $20.
Explanation:
- A note otherwise known as promissory note is an unconditional written promise by a borrower to a lender (payee) to pay a certain agreed sum at a specific date.
- The interest revenue on notes receivable is calculated by Principal x Interest rate x Time period
- In the case of ABC, Inc., the interest revenue to be recorded for year 1 (November 1 - December 31) is calculated as follows: $1,500 x 8%/12 = $10 monthly. For the 2 months, it is $10 x 2 months = $20.
You have the option of two equally risk annuity, each paying $5,000 per year for 8 years. The is an annuity due and the other is an ordinary annuity. If you are going to be receiving the annuity payments, the annuity due would you choose to maximize your wealth.
What is an Ordinary Annuity?
An ordinary annuity is a series of equal payment made at the end of consecutive periods over a fixed length of time. An standard annuity's payments can be paid as frequently as weekly, although in reality they are typically made monthly, quarterly, mid-annually, or yearly. An annuity due is the reverse of a Ordinary annuity in that payment are issued at the start of each period. Although they are connected, these two payments schedules differ from the financial instrument known as an annuity.
Learn more about Ordinary Annuity here:
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