The interest rate charged on overnight loans of reserves between banks is A) federal funds rate. B) prime rate. C) Treasury bill
1 answer:
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Answer:
$35.085
Not in options.
Explanation:
As for the provided information,
Details of Production are:
Toasters = 2,200 units
Blenders = 1,500 units
Hours required for each unit are:
Toasters = 1.25
Blenders = 1
Now, therefore, total hours of direct labor
Toasters = 2,200 1.25 = 2,750
Blenders = 1,500 1 = 1,500
Total hours = 4,250
Thus, total overheads = $149,115
Rate per hour = $149,115/4,250 = 35.085
Based on the information given the answer is $35.085, although this is not in the option.
Therefore, options provided are incorrect.