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lilavasa [31]
3 years ago
15

Mia Lane bought a high-definition television for $7,500. Based on her income, she could afford to pay back only $600 per month.

There is 1 ½% monthly interest charge on the unpaid balance. The U.S. Rule is used in the calculation. At the end of month 1, the balance outstanding is:

Business
1 answer:
lina2011 [118]3 years ago
6 0

Answer:

$ 7,012.50

Explanation:

Please see attachment

You might be interested in
Blue Stone Builders recently offered to sell 45,000 newly issued shares of stock to the public. The underwriters charged a fee o
Lady bird [3.3K]

Answer: d) Dutch auction

Explanation:

Dutch Auction refers to a type of Public Offering in which the issuing company holds a sort of auction and receives bids on the shares that it has in. Using these bids they are able to set a price for the stock which is the highest price received.

However, the bids are based on the amount an investor can buy in terms of quantity and price. The lowest acceptable bid is then charged on all the stock and is called the Uniform auction price which is what Blue Stone paid thereby making this a Dutch Auction.

7 0
3 years ago
Farr Industries Inc. manufactures only one product. For the year ended December 31, the contribution margin increased by $560,00
vitfil [10]

Answer:

Farr Industries Inc

            Contribution Margin Analysis

Planned Contribution Margin                                                   $5,200,000.00

Effect of change in sales:

Sales quantity factor                                                                                            (120,000-130,000)x$220                      ($2,200,000)

Unit price factor                                                                                                                ($250 - $220)x120,000                         $3,600,000

Total effect of change in sales                                                 $1,400,000.00

<em>Effect of changes in variable cost of goods sold: </em>

Variable cost quantity factor                                                                                        (130,000-120,000)x $165                    $1,650,000.00

Unit cost factor                                                                                                                   ($180-165) x 120,000                          ($1,800,000.00)

Total effect of changes in                                                                                           variable cost of goods sold                                                      ($150,000.00)

<em>Effect of changes in variable selling and administrative expenses: </em>

Variable cost quantity factor                                                                                                  (130,000-120,000)x $15                   $150,000.00

Unit cost factor                                                                                                   ($22-$15)x 120,000 units                 ($840,000.00)

Total effect of changes in

variable selling and administrative expenses                           ($690,000.00)

Actual contribution margin                                                       $5,760,000.00

I disagree with the President, seeing as though we see that the majority of the decrease in the variable cost of the products sold is due to the variable cost factor and also to the variable sales and administrative expenses because the company made additional sales efforts to stay competitive at increased prices

4 0
3 years ago
A product that is very labor intensive assembled at Boyds Aero Structure in Memphis has an average labor cost of $20/hr.
Nuetrik [128]

Answer:

correct answer for learning curve percentage is A. 90%

Explanation:

given data

average labor cost = $20/hr

Time 1st  unit = 10 hours

Time 4th unit =  8.1 hours

solution

we apply here formula for learning curve that is

Time (x)  units = Time 1st unit ×  x^{\frac{ln\ leaning\ rate }{ln\ 2}}

so

time 4th unit = Hours 1st unit ×  4^{\frac{ln\ leaning\ rate }{ln\ 2}}

8.1 = 10 ×  4^{\frac{ln\ leaning\ rate }{ln\ 2}}

ln 0.81 = {\frac{ln\ leaning\ rate }{ln\ 2}} × ln 4

solve it we get

learning rate = 90%

so correct answer is A. 90%

4 0
3 years ago
Journal Entries and T-accounts [LO3-1, LO3-2] The Polaris Company uses a job-order costing system. The following transactions oc
ikadub [295]

Answer:

a.) Raw material 210000

          Account payable     210000

(Purchase material on account)

b.) 1.Work in process  151200

             Raw material       151200

       (material used)

    2.Overhead          37800

              Raw material        37800

     (Record indirect material )

c.)1. Work in process     49000

              Factory payroll        49000

     (Record direct labor)

     2. Overhead           20000

              Factory payroll        20000

       (Record indirect labor)

       

d.)  Overhead      106000

          Accumulated depreciation   106000

          (record depreciation)

e.)  Overhead     130000

               Account Payable    130000

f.)  work in process  (8*76400)  611200

              Overhead                               611200

g.) Finished goods 511000

                   Work in process   511000

  ( record completion of goods from wip to finished goods)

h.)Account receivable  605680

                 Sales                       6056800

      (record sales on account)

Explanation:

f.Overhead applied to a particular job= Predetermined rate* job hours allocated

h. copmlete job were shipped to customer at 34% above cost =(452000*34%)=452000+153680=605680.

5 0
3 years ago
Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the nec
nadezda [96]

Answer:

Troy Engines, Ltd.

a. The financial advantage of buying from the outside supplier = $34,000

b. The outside supplier's offer should be accepted.

c. The financial disadvantage of buying from the outside supplier = $136,000.

d. The outside supplier's offer should not be accepted.

Explanation:

a) Data and Calculations:

Cost of                                                                   Internal                External

                                                                        Production        Procurement

Per Unit 20,000 Units Per Year                  

Direct materials                                          $17 $340,000

Direct labor                                                   10   200,000

Variable manufacturing overhead               2      40,000    $36   $720,000

Fixed manufacturing overhead, traceable  9    180,000

Fixed manufacturing overhead, allocated 12    240,000               240,000

Total cost                                                  $50   604,000             $960,000

a) Buying 17,000 carburetors:

Cost of                                                                   Internal                External

                                                                        Production        Procurement

Variable manufacturing cost                       29  493,000    $36    $612,000

Fixed manufacturing overhead, traceable  9    153,000

Fixed manufacturing overhead, allocated 12   240,000                240,000

Total cost                                                  $50 $886,000             $852,000

The financial advantage of buying from the outside supplier = $34,000 ($886,000 - $852,000)

b) The segment margin of the new product launched:

a) Buying 17,000 carburetors:

Cost of                                                                   Internal                External

                                                                        Production        Procurement

Variable manufacturing cost                       29  493,000    $36    $612,000

Fixed manufacturing overhead, traceable  9    153,000

Fixed manufacturing overhead, allocated 12   240,000                240,000

Total cost                                                  $50 $886,000             $852,000

New segment product's margin                       (170,000)

Net total cost                                                    $716,000              $852,000

The financial disadvantage of buying from the outside supplier = $136,000 ($716,000 - $852,000).

7 0
3 years ago
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