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Lisa [10]
3 years ago
10

Affan Chawdry has monthly net income of $1,050. He has a house payment of $450 per month, a car loan with payments of $375 per m

onth, a Visa card with payments of $50 per month, and a credit card with a local department store with payments of $100 per month. What is Affan's debt payments-to-income ratio
Business
1 answer:
Stolb23 [73]3 years ago
8 0

Answer:

92.86%

Explanation:

Debt-to-income ratio is a comparison or personal debts against income.  It is used to assess an individual ability to accommodate more debts.

The formula for for calculating Debt to income is

Debt to income is   <u> Total of Monthly Debt Payments​​  </u>

    Gross Monthly Income        

For Affan, Total debts are $450 + $375 + $50+ $100 =$ 975

Gross income is not given , we use net income which is $1,050

Debt to income ration =  $975/$1050

=  0.92857 x 100

= 92.86%

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Al, walks in off the street, says the grounds could use some sprucing up, and offers to do it for $8 an hour. Management gives h
Rufina [12.5K]

Answer:

<u>Option B</u> must pay him as an employee, withhold appropriate taxes and issue a W-2 at year end

Explanation: He is paid based on hours worked, and uses the company equipment thus is an employee who is controlled by an employer. The independent contractors buy their own supplies, provide their own equipment and paid based on tasks performed

4 0
3 years ago
When a firm or store offers a price reduction to customers who buy during off-peak periods throughout the year, we say the firm
german

Answer:

Seasonal.

Explanation:

A trade discount can be defined as a reduction in the price of goods given by a manufacturer to a wholesaler or retailer when they buy units of goods in larger quantities. This ultimately implies that, a trade discount is a percentage reduction in price given by a manufacturer to a wholesaler or retailer in order to encourage them to buy the goods in larger quantities and thus, increase revenue and profits.

Also, a seasonal discount can be defined as a reduction in the price of goods given during off-peak periods (off-season) in order to encourage customers to purchase a particular product.

Hence, when a firm or store offers a price reduction to customers who buy during off-peak periods throughout the year, we say the firm is giving a seasonal discount.

5 0
3 years ago
Although the number of people employed in manufacturing in the united states has decreased since 1950, each person is now produc
gogolik [260]

The statement mentioned above regarding  manufacturing in the United States is true.

<h3>What is manufacturing?</h3>

Manufacturing refers to the changing or conversion of the raw material into finished products and deliver it to the customers directly or indirectly. The manufacture of the products in order to maximize their profits and satisfy the needs of the customers.

More young individuals entering the industrial industry could have a significant impact on the manufacturing growth in the United States. Young people use their creativity and knowledge to increase the production.

The number of people has increased in manufacturing sectors. Therefore, it can be concluded that the statement mentioned above is true.

Learn more about manufacturing here:

brainly.com/question/13740503

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5 0
1 year ago
US Apparel (USA) manufactures plain white and solid-colored T-shirts. Budgeted inputs include the following
Artemon [7]

Answer:

A) USA will not be better off switching to the new dye since the cost is greater than the Fine

B)  $118076

C)  The reduction in material/fabric cost can be achieved by the reduction in material wastage and in the use of quality materials

while the reduction in labor cost can be achieved by Hiring well trained employees with the necessary skillset

Explanation:

<u>A) Determine If the USA be better off using the new dye </u>

Units of clothes to be dyed = 50,000

Difference in cost = [ 4 ( 1.25 - 0.5 ) ] = 4 * 0.75 = $3

Total cost of using the new dye = 50000 * $3 = $150,000

Fine = $130,000

hence USA will not be better off switching to the new dye since the cost is greater than the Fine

<u>B) Determine by how much overall cost will be reduced at the end of 12 months using Kaizen costing </u>

<em>condition : reduce fabric and labor cost by 1%</em>

Original Monthly Costs without the use of Kaizen Costing =( Total Units/Number of Months)*(Fabric Cost per Unit + Labor Cost per Unit)*Number of Months

= [( 10000 + 50000 )/12 ) * ( 6 + 4 ) ] *12

= [ 5000 * 10 ] *12  = $600,000

Applying kaizen costing

Given: Fabric cost per unit = $6 , Labor cost per unit = $4

          Total units of production = 10000 + 50000 = 60,000

Kaizen costing formula per month = [ (cost per unit * total units / 12 ) - ( 1% of cost per unit * total units / 12) ]

Total annual cost using Kaizen costing = $56807.61

difference in cost = $600,000 - $568076 = $31924

with the new dye and Kaizen costing the overall cost will be change by $118076  i.e. ($150,000 - $31924) = <em>$118076 </em>

C ) The reduction in material/fabric cost can be achieved by the reduction in material wastage and in the use of quality materials

while the reduction in labor cost can be achieved by Hiring well trained employees with the necessary skillset

5 0
3 years ago
13. In a market system, how are the terms of exchange established? a. Consumer advocacy groups establish fair prices for items,
yuradex [85]

The forces underlying supply and demand interact to determine the market price.

<h3><u>Explanation:</u></h3>

The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.

The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.

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3 years ago
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