What are things you can do to manage the risks in your life to reduce any financial losses?
1 answer:
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Answer and Explanation:
1. The computation of overhead rate based on direct labor cost is shown below:-
Overhead rate = Overhead applied × 100 ÷ Direct labor cost
= 888 × 100 ÷ 1,200
= 74%
2. The Preparation of job-order cost sheet for the four jobs is shown below:
Particulars Job 86 Job 87 Job 88 Job 89
Beginning balance $6,888 $6,820
Direct materials $3,000 $7,000 $2,100 $1,500
Direct labor $800 $6,000 $900 $500
Applied overhead
is 74% of direct labor $592 $4,440 $666 $370
Total $11,280 $24,260 $3,666 $2,370
3. The computation of ending balances of Work in Process and Finished Goods is shown below:-
Work in process of Job 88 = $3,666
Finished goods = Total of Job 86 + Total of Job 89
= $11,280 + $2,370
= $13,650
4. The computation of the Cost of Goods Sold for March is shown below:-
Cost of goods sold is
= Job 87
= $24,260
Answer:
$1,223.91
Explanation:
As per the concept of time value of money, the value of money today is more than the value of money tomorrow.
Given:
Price of car = $26,000
Interest rate 12%, compounded monthly
Tenure = 2 years
Now, Price of the car is the value of money today to purchase the car. So, while computing the monthly payment for car $26,000 will be considered as present value.
Monthly payment for car can be computed easily using Microsoft excel.
Use the following mentioned formula to calculate the monthly payment.
"=PMT(rate,nper,pv,[fv])"
wherein,
Rate = 12%/2 (because it has been compounded monthly)
nper = 2*12 (because 2 years are to be compounded monthly.)
Pv = $26,000 (as mentioned earlier)
Since, there is no Fv so it blank.
