Answer:
The variable rate loan term best describes this loan.
Explanation:
In these type of loans variable interest rate is charged. A variable interest rate is a floating interest rate on a loan or security (bonds,debentures) that changes over time because it is based on an underlying benchmark interest rate or index that changes periodically. So the interest payment fluctuates with change in benchmark.
The advantage of a variable interest rate is that if the underlying interest rate or index falls down, the borrower’s interest payments also decrease. Accordingly, if the underlying index rises, interest payments increase.
Answer:
Days in inventory is 66 days
Explanation:
The formula for days in inventory is 365 days/inventory turnover while inventory turnover is costs of good sold divided by average inventory.
costs of goods sold is $550,000
average inventory is ($90,000+$110,000)/2=$100,000
inventory turnover =$550,000/$100000
inventory turnover =5.5 times
The days in inventory can then be computed thus:
days in inventory=365 days/5.5=66.36 days
The days in inventory is the average number of days that it took inventory to be sold and it is approximately 66 days in this instance
Answer:
$41,960
Explanation:
the question is incomplete, so I looked for a similar question in order to fill in the missing parts:
- Corporate headquarters building lease $86,000
- Cosmetics Department sales commissions--Northridge Store $5,300
- Corporate legal office salaries $57,300
- Store manager's salary-Northridge Store $11,700
- Heating-Northridge Store $14,400
- Cosmetics Department cost of sales--Northridge Store $32,400
- Central warehouse lease cost $13,900
- Store security-Northridge Store $16,300
- Cosmetics Department manager's salary--Northridge Store $4,260
Direct costs are costs that are specific to a certain product, service or in this case, department or business unit. They are not shared with other products, services or business units.
The direct costs allocated to the Cosmetics Department are:
- Cosmetics Department sales commissions--Northridge Store $5,300
- Cosmetics Department cost of sales--Northridge Store $32,400
- Cosmetics Department manager's salary--Northridge Store $4,260
- total $41,960
Answer:
The correct answer is the option B: a certified check.
Explanation:
To begin with, the term of <em>''certified check''</em> refers to a type of check that was certified by the emisory bank stating that the account has enough money to make the payment, therefore that the bank's account of the user is currently with sufficient money in order to do the purchase for which the check was meant to.
Secondly, once established the concept of a certified check, it is understood that in the situation where Elmo pays a certain amount to his bank in order to draw a check to pay for something, then the bank has enough money in Elmo's account and therefore <u>the check will be certified</u> by the bank.