ANSWERS: There was a format called Company Town where the company would virtually own and control the entire town including daily need item stores. Workers were lured with attractive wages and accommodation. But, the wages were paid in 'Scrips' which were company printed currency meant to be spent in the stores owned by the company owned and controlled stores inside the company town. This led to the employees getting dependent on employers and their personal freedom and space getting interfered by employers. This relation led to the term 'Wage Slavery'. This practice was continued in mining town till 1960s whereas the concept of company town ended in the 1920s.
Answer:
See below
Explanation:
Option of whether Pine street Inc. should sell unfinished book cases
Sales per unit
$59
Less:
Variable cost per unit
$37
Contribution per unit
$22
Less:
Fixed cost
$10
Operating profit
$10.
Option of whether Pine street inc. should sell finished book cases
Sales per unit
$75
Less :
Variable cost per unit
$8
Contribution per unit
$67
Less :
Fixed cost
$10
Operating profit
$57
Therefore, it is recommended that Pine street inc. should sell finished book cases because that would yield the highest operating profit.
Answer:
$88,000
Explanation:
The computation of the ending balance of the retained earning balance is shown below:
As we know that
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
where,
net income is
= Revenues - expenses
= $50,500 - $33,000
= $17,500
And, the other items values would remain the same
So, the ending balance is
= $92,500 + $17,500 - $22,000
= $88,000
Answer:
1. a. 4.081%
2. c. $23,536.36
Explanation:
1. Periodic rate=(4.4%/4) = 1.1%
EAR=(1+APR/m)^m-1
where m=compounding periods
= (1+0.044/4)^4-1
= 1.011^4 - 1
= 1.04473133864 - 1
= 0.04473133864
= 4.47%
EAR=(1+APR/m)^m-1
where m=compounding periods
=(1+0.04/365)^365-1
= (1+0.00010958904)^365 - 1
= 1.00010958904^365 - 1
= 1.04080849272 - 1
= 0.04080849272
= 4.081%
2. A=P(1+r/365)^365*n
where A=future value, P=present value, r=rate of interest, n=time period.
= 22000*(1+9%/365)^(9/12*365)
= $23,536.36
