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3 years ago

Activity Budgeted Activity Cost

Business

1 answer:

vampirchik [111]3 years ago

3 0

Answer:

Activity Rate = Activity Cost/ Driver Costs= $ 500,000/10,000= 50

Activity Budgeted Budgeted Budgeted

Activity Cost Cost Driver Activity Rate

Production $500,000 10,000 50

Setup $144,000 450 320

Inspection $44,000 1100 40

Shipping $115,000 5750 20

Customer service $84,000 600 140

Total $887,000

White Brown Powdered Total

Sugar Sugar Sugar

Units 10,000 5000 5000 20,000

Production 250,000 125,000 125,000 500,000

Setup $ 27200 54,400 62400 144,000

Inspection $ 8800 13200 22000 44000

Shipping $ 23000 52,000 40,000 115000

Customer service $ 8400 49,000 26,600 $ 84,000

Total $ 317,400 $ 293,600 $276,000 $887,000

Per Unit Cost $ 31.74 $58.72 $ 55

Working

White Brown Powdered Total

Sugar Sugar Sugar

Machine Hours 5000 2500 2500 10,000

Production *50 *50 *50

$ 250,000 $ 125,000 $ 125,000

Number of setups 85 170 195 450

Setup * 320 * 320 * 320

27,200 54,400 62,400

Number of inspections 220 330 550 1100

Inspection *40 *40 *40

8800 13200 22000

Number of customer 1150 2600 2000 5750

Orders

Shipping *20 *20 *20

23,000 52000 40,000

Number of customer 60 350 190 600

Service Requests

Customer service *140 *140 *140

8400 49000 26,600

Units 10,000 5000 5000 20,000

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You want to buy a new car, but you can make an initial payment of only $1,200 and can afford monthly payments of at most $850. a

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a. The maximum price you can pay for the car is $33,477.87.

b. The maximum price you can pay for the car is $39,411.78.

Explanation:

a. If the APR on auto loans is 12% and you finance the purchase over 48 months, what is the maximum price you can pay for the car? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can be determined as follows:

Calculation of the Present Value (PV) of the monthly payments

To calculate, the formula for calculating the present value of an ordinary annuity is used as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 48

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^48) / 0.01)

PV = $850 * 37.9739594934803

PV = $32,277.87

Calculation of the maximum price you can pay for the car

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $32,277.87.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $32,277.87 = $33,477.87

Therefore, the maximum price you can pay for the car is $33,477.87.

b. How much can you afford if you finance the purchase over 60 months? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can also be determined as follows:

Calculation of the Present Value (PV) of the monthly payments

To calculate this, we use equation (1) in part (a) above, change number f months to 60 and proceed as follows:

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 60

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^60) / 0.01)

PV = $850 * 44.9550384062241

PV = $38,211.78

Calculation of the maximum price you can pay for the car

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $38,211.78.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $38,211.78 = $39,411.78

Therefore, the maximum price you can pay for the car is $39,411.78.

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