True, Because you can always bring your own lunch to School/Work that would most likely be less expensive.<span />
Answer:
Total amount = $10906400
He would receive = $ 45443.33 every month
Explanation:
Ken invested $1.6 million at 9.6% for 20 yes compounded monthly.
n = 20*12= 140
t = 20
P= 1600000
R= 9.6% = 0.096
Amount A is equal to
A = p(1+r/n)^(nt)
A =
1600000(1+(0.096/140))^ (140*20)
A =
1600000(1 + (6.857*10^-4))^(2800)
A= 1600000(1.0006857)^2800
A = 1600000*6.8165
A = 10906400
Every month, he will get
10906400/(12*20)
= 10906400/240
=$ 45443.333
Answer:
Shawnee Motors Inc.
Income Statement
For the month ended August 31, 202x
Sales revenue $1,000,000
- COGS <u> ($696,000)</u>
Gross profit $304,000
S&A expenses:
- Variable S&A expenses $140,200
- Fixed S&A expenses $54,300 <u>($194,500)</u>
Operating profit $109,500
Explanation:
Sales (10,000 units) $1,000,000
Production costs (13,000 units):
- Direct materials $481,000
- Direct labor $231,400
- Variable factory overhead $115,700
- Fixed factory overhead $76,700
- Total production costs $904,800
Selling and administrative expenses:
- Variable selling and administrative expenses $140,200
- Fixed selling and administrative expenses $54,300
- Total S&A expenses $194,500
COGS = (10,000 / 13,000) x $904,800 = $696,000