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yanalaym [24]
3 years ago
13

MNM & Co incurred depreciation expenses of $36,810 last year. The sales were $903,480 and the addition to retained earnings

was $11,530. The firm paid interest of $7,711 and dividends of $7,500. The tax rate was 33 percent. What was the amount of the costs incurred by the company?
Business
1 answer:
sergiy2304 [10]3 years ago
3 0

Answer:

The costs incurred by the company is the same as the costs of good sold  of the company-MNM&Co ,last year.

The costs of good sold=$830,556.01

Explanation:

The detailed computation is found in the excel file attached.

Download xlsx
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You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to in
trasher [3.6K]

Answer:

You will receive $201.38 more interest if the investment is made with a compound interest rate rather than a simple interest rate.

Explanation:

<u>Simple interest rate</u>

We can calculate how much interests you'd obtain if you deposited the $2,600 in a simple interest rate account.

We start using the following formula for calculating the simple interests:

I=P * r

Where:

<em>I</em> are the interests per year,

<em>P</em> is the amount being invested,

<em>r</em> is the interest rate.

Replacing in the formula with the given values we have:

I=2600*0.05=130

We then proceed to multiply this result by the <em>given number of years</em>, which is 8. We get 130*8=1040.

Finishing with the <em>simple interest rate</em>, if we wanted to know how much is the investment worth at the end of a 8 year period, we must merely add <em>the principal</em> (the $2,600) to the total interests after the end of the period ($1040). So 2600+1040= 3640.

We'll use these results later.

<u>Compound interest rate</u>

The formula for compound interests is the following:

I=P(1+r)^n

Where:

<em>I</em> is the value of the investment after <em>n</em> years,

<em>P</em> is the principal amount being invested,

<em>r</em> is the interest rate,

<em>n</em> are the number of years the investment is compounded.

Replacing in the formula with the given values we have:

I=2600*(1+0.05)^8=3841.38

After the 8 year period, the investor will have $3841.38 in it's compounded interest account.

<u>Comparing these results</u>

<u></u>

We can simply substract the value of both investments at the end of a 8 year period, to determine how much more interest does the compound interest rate account give in relation to a simple interest rate account.

The values we've gotten were:

$3,640 for the simple interest rate account, and

$3,841.38 for the compounded interest rate account.

3841.38-3640=201.38. Therefore the answer is: the account that pays compounded interests will pay $201.38 more to this invididual, compared to an account that pays simple interest.

8 0
3 years ago
The Brookstone Company produces 9 volt batteries and AAA batteries. The Brookstone Company uses a plantwide rate to apply overhe
Rzqust [24]

Answer:

Over applied Overhead =$ 42,500

Explanation:

Actual Overhead $325,000

Estimated Overhead $350,000

Over applied overhead is when the Predetermined overhead is more than the actual overhead . Under applied overhead is when the Predetermined overhead is less than the actual overhead .

Predetermined Overhead rate= Overhead / total direct labor hours

                              = 350,000/ 500,000 (100)= 70%

Applied Overhead = Predetermined Overhead rate( actual direct labor hours)

                               = 70 % (525,000) = $367,500

Applied Overhead $367,500

Less Actual Overhead $325,000

Over applied Overhead =$ 42,500

5 0
3 years ago
UA Hamburger Hamlet (UAHH) places a daily order for its high-volume items (hamburger patties, buns, milk, and so on). UAHH count
Assoli18 [71]

Answer:

730 items

Explanation:

The objective of the given information is to determine the number of hamburgers UAHH should order for the following conditions:

Average daily demand 600

Standard deviation of demand 100

Desired service probability 99%

Hamburger inventory 800

The formula for a given order quantity in a fixed period of time can be expressed as :

q = \overline d(L+T)+ z \sigma_{L+T}-I

where;

q =  order quantity = ???

\overline d = daily demand average = 600

L = lead time in days = 1

T = time taken = 1

z = no of standard deviation = ???

\sigma_{L+T} = standard deviation of usage in lead time and time taken = ???

I = present inventory level = 800

\sigma_{L+T} = \sqrt 2 × standard deviation of daily demand

\sigma_{L+T} = \sqrt{2} *100

\sigma_{L+T} = 1.4142 * 100

\sigma_{L+T} = 141.42 items

From the Desired service probability 99% = 0.99; we can deduce the no of standard deviation by using the excel function (=NORMSINV (0.99))

z = 2.33

From q = \overline d(L+T)+ z \sigma_{L+T}-I

q =600(1+1)+ 2.33*(141.42)-800

q =600(2)+ 2.33*(141.42)-800

q =1200+329.5086-800

q = 729.5086 items

q ≅ 730 items

Therefore; the  number of hamburgers UAHH should order from the following given conditions = 730 items

6 0
3 years ago
Zhang Industries budgets production of 400 units in June and 410 units in July. Each finished unit requires 5 pounds of raw mate
Vika [28.1K]

Answer:

The correct answer is $12,060.

Explanation:

According to the scenario, the given data are as follows:

Production in June = 400 units

Production in July = 410 units

Each unit required = 5 pounds

Cost per pound = $6

So, June required raw material = 400 units × 5 pounds = 2000 pounds

For July required raw material = 410 units × 5 pounds × 20% = 410 pounds

So, required total raw material for June = 2000 pounds + 410 pounds - 400 pounds ( already in inventory)

= 2010 pounds

So, the total cost required for raw material in June = 2010 pounds × $6

= $12,060

Hence, the budgeted cost of purchases for raw material K for June is $12,060.

7 0
2 years ago
The amount of money you can change to a credit card is called?
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Checking money is the amount of money.
4 0
3 years ago
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