Which of the following statements about economic resources is false?A) Economic resources include financial capital and money.B)
1 answer:
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Answer:
B
Materials Control $ 250
Manufacturing Overhead Control $1,000
Work-in-Process Control $1,250
Explanation:
spoilage rate: 10/1000 = 0.01=1%
the job requires 2,500 goods parts
total part required (considering spoilage)
2,500 /(1-0.01) = 2500/ 0.99 = 2525.2525 = 2525
2525-2500 = 25 spoilage part
<u>Note:</u>
in this case you may think you can simple do 2,500 x 0.01
But if the spoilage rate is high or the amount of high is, then you will have an answer different than the correct method. Stick to the formula given.
25 part x 50 = 1,250
From the work in process, we will subtract this value, we will increase the spoilage materials inventory and charge the diference as actual overhead.
b.
Materials Control $ 250
Manufacturing Overhead Control $1,000
Work-in-Process Control $1,250
Answer:
The question is not complete, below is the complete question:
Suppose that you open a mutual fund account with a deposit of 500 dollars. 5 months later, the fund balance is 600 dollars, and you withdraw 216 dollars. A year after the account was opened, your balance is X dollars. If the dollar weighted and time weighted rates of return were the same, what is the rate of return? (Assume simple interest for the dollar weighted calculation.) Answer should be a percent!!!
Answer:
The rate of return is 48% on deposited fund.
Explanation:
The rate of return on investment is the percentage increase on an amount invested for a particular period of time, and to calculate this, we will use the simple interest formula:
I = P × R × T
Where:
P = principal = $500
R = rate in decimal ( %rate/100)
T = time = 5 months = 5/12 years
I = interest = Principal - final balance = 600 - 500 = $100
∴ 100 = 500 × R/100 × 5/12
100 =
120,000 = 2500R
∴ R = 120,000 ÷ 2500 = 48%
Therefore rate of return (R) = 48%
For a clearer understanding of the concept of interests, let us calculate for the balance after one year (X) as shown below:
I = P×R×T
T = 1 because, X is the balance after one year.
I = 500 × 48/100 × 1
I = $240
therefore the final amount after one year = interest + principal
= 240 + 500 = 740
but we were told that $216 was withdrawn at 5 months, hence the balance after one year = 740 - 216 = $524