Answer:
c) A government insurance program that will pay back account holders if the bank or lending institution fails
Explanation:
The FDIC is an acronym for Federal Deposit Insurance Corporation. It was founded by Franklin Roosevelt on the 16th of June, 1933.
FDIC is a government insurance program that will pay back account holders if the bank or lending institution fails.
The income generated from the premium payments of insured banks is used to fund or finance the FDIC.
Answer:
10.71%
Explanation:
The computation of the required rate of return on this preferred stock is shown below :
The Required return on preferred stock is
= Dividend ÷ market value of preferred stock
= 7.50 ÷ $70
= 10.71%
By dividing the dividend from the market value of preferred stock we can get the Required return on preferred stock and the same is to be considered
therefore we ignored the par value i.e $60 as this is not relevant
Answer:
Determination of activities,
Grouping of activities,
Allotment of duties to specified persons,
Delegation of authority,
Defining relationships, and.
The co-ordination of various activities.
Answer:
$340,000
Explanation:
The computation of Product X’s sales value at the split-off point is shown below:
= Total sales value - Product Y sales value at the split-off point - Product Z sales value at the split-off point
= $600,000 - $150,000 - $110,000
= $340,000
Basically for determining the Product X sales value at the split-off point, we deduct the Product Y sales value and the Product Z sales value at the split-off point from the total sales value
Answer:
Actual cost per unit = $2.13
Explanation:
The spending variance for equipment and supplies can be calculated as below:
Spending variance = Actual spending - Standard Spending, or:
- 9,604 = Actual spending - Standard cost per unit x Budgeted quantity
- 9,604 = Actual spending - 2.67 x 19,200
Solve the equation we get Actual spending = 41,660.
The actual cost per unit for supplies is calculated as below:
Actual cost per unit = Actual spending/Actual production unit
= 41,660/19,600 = 2.13
