Answer: $332.1
Explanation:
Given that,
Monthly collected balance = $600,000
Bank pays an earning credit rate = 0.75%
Reserve Requirement Ratio = 10% of $600,000
= $60,000
Investable amount = Monthly collected balance - Reserve requirement amount
= $600,000 - $60,000
= $540,000
ABC's monthly earnings credit:
= Investable amount × Earning credit rate × Time period
= 540,000 × 0.75% ×
= $332.1
Answer:
Cash Disbursement for selling and administrative expense = $42,370
Explanation:
Provided information,
Units to be sold in the month of March = 3,100 units
Variable selling and administrative cost per unit = $3.60
Fixed selling and administrative cost = $35,810
Depreciation included in fixed selling and administrative cost = $4,600
Cash fixed cost of selling and administrative cost = $35,810 - $4,600 = $31,210
Total cash cost of selling and administrative cost = Variable + Cash Fixed cost
Total variable cost = $3.60 3,100 units = $11,160
<u>Total cash disbursement = $11,160 + $31,210 = $42,370</u>
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