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4 years ago

Fontana Manufacturing provided the following information for the month ended March 31:

Business

1 answer:

rjkz [21]4 years ago

3 0

Answer:

$27,600

Explanation:

Given that,

Sales Revenue = $ 26,000

Beginning Finished Goods Inventory = $7,000

Ending Finished Goods Inventory = $14,500

Cost of Goods Manufactured = $20,600

Cost of goods available for sale:

= Beginning Finished Goods Inventory + Cost of Goods Manufactured

= $7,000 + $20,600

= $27,600

Therefore, the cost of goods available for sale on March 31 is $27,600.

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An insurance contract promises to pay benefits based upon a future uncertainty such as death, or illness describes which feature

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The feature of the insurance contract that is being described above is the aleatory contract. It is the type of contact where the individual that has been involved can't handle or control the event that could happen to him or her. It is a way of having uncertain events happening in the individual such as death or natural disasters that she or he could face.

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3 years ago

If we do not pay our student loans, then our credit score will be ruined. we will not pay our loans. therefore, our credit score

k0ka [10]

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4 years ago

Amanda Forsythe of Springfield, Missouri, must decide whether to buy or lease a car she has selected. She has negotiated a purch

geniusboy [140]

Answer:

Since the cost of financing for leasing is higher than buying, Amanda she should finance the car.

Explanation:

Solution

Buy versus Lease problem:

Now,

Buy case

The Purchase price = Gross capitalized cost = $30,000

The Down payment = $3300

The Present value of borrowing from credit union = 30,000 - 3300 = $26700

The EMI payment = $614.88,

No of months = 48, Annual percentage rate (APR) = 5%

The Monthly Percentage rate = 5%/12 = 0.4%

Then

We find future value at the end of 48 months

By applying Excel,

PV=26700, N=48, I/Y=0.4%, PMT=614.88

FV = -0.14079 which is approximate to Zero (given that EMI payment was rounded off to digit of 2 , FV has resulted slightly differ from zero)

So, at the end of four years, the car has no residual value as per the buy option.

The Finance charges of borrowing the car = Sum of all the EMI payments – principal payment

= $61488*48 - 26700 = $2924.724

The lease case

The cost reduction capital= $3300 (capitalized cost is paid by customers to decrease the rate of lease while leasing cars)

Fee disposition on the car = $350

The Residual value = $12,400

Then,

PV = $30,000 - $3300 = $26,700, EMI = $330, Number of months leased = 48

FV = Residual value – Disposition fee = $12,400 - $350 = $12,050

The cost of dollar of leasing = Sum of all the payments of EMI - payment based on principal value at the end of the lease period = 330 * 48 – (26700 – 12050) = $1190

Therefore, since the cost of financing for leasing is higher than buying, Amanda she should finance the car.

4 0

3 years ago

Coronado Industries has outstanding accounts receivable totaling $6.57 million as of December 31 and sales on credit during the

BigorU [14]

Answer:

$317,500

Explanation:

The computation of the amount of bad debt expense is shown below:-

Bad debt expenses = (Accounts receivable × Outstanding receivable percentage) - Opening Allowance for doubtful debts

= ($6.57 million × 5%) - $11,000

= $317,500

Therefore for computing the bad debt expense we simply applied the above formula.

8 0

4 years ago

You can receive 400,000 five years from today or 1,000,000 thirty years from today. what interest rate makes them equivalent?

deff fn [24]

Answer:

3.73%

Explanation:

The computation of the rate of interest that makes the equivalent is shown below:

As we know that

Present value=Cash flow × Present value discounting factor ( interest rate% , time period)

Let us assume the interest rate be x

where,

Present value of $400,000 is

= $400,000 ÷ 1.0x ^5

And,

Present value of $1,000,000 be

= $1,000,000 ÷ 1.0x^30

Now eqaute these two equations

$400,000 ÷ 1.0x^5 = $1,000,000 ÷ 1.0x^30

(1.0x^30) ÷ (1.0x^5) = $1,000,000 ÷ $400,000

1.0x^(30 - 5)=2.5

1.0x^25=2.5

1.0x = (2.5)^(1 ÷ 25)

x =1.03733158 - 1

= 3.73%

3 0

3 years ago

Fontana Manufacturing provided the following information for the month ended March​ 31:

Fontana Manufacturing provided the following information for the month ended March 31: