Vonda and Aleiyah are shopping together at the mall for new jeans. Vonda is willing to pay $90 and Aleiyah is willing to pay $50
1 answer:
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Answer:
overhead rate $4 per machien hour
applied overhead 1,560,000
The overhead was underapplied for 15,000
entry to adjust against COGS
Cost of Goods of sold 15,000 debit
Factory overhead 15,000 credit
Explanation:
we divide the expected overhead over the total amount of budgeted machine hours to determinate the overhead rate:
1,600,000 / 400,000 = $4 per machine hours
Actual machine hours 390,0000
applied overhead:
actual cost driver x rate per driver
390,000 x $4 = 1,560.000 applied overhead
Actual overhead 1,575,000
As aplies is lower, we should adjust for 15,000 difference
Amortizing a loan P over n periods at i% interest / period, the payment per period is given by:
In given situation,
P=20000
period=month
i=10%/12
n=5*12=60 months
A. monthly payment amount
to the nearest cent
B. EAR (effective annual rate)
the APR is 10%, but compounded monthly.
So
EAR=(1+i/12)^12-1
=(1+0.1/12)^12-1
=0.104713
=10.4713% (effective annual rate)
In given situation,
P=20000
period=month
i=10%/12
n=5*12=60 months
A. monthly payment amount
B. EAR (effective annual rate)
the APR is 10%, but compounded monthly.
So
EAR=(1+i/12)^12-1
=(1+0.1/12)^12-1
=0.104713
=10.4713% (effective annual rate)