Answer:
the ending inventory is $13,200
Explanation:
The computation of the dollar value of the ending inventory under variable costing is shown below:
= Variable production cost per unit × difference in units
= $13.20 per unit × (5,200 units - 4,200 units)
= $13.20 per unit × 1,000 units
= $13,200
hence, the ending inventory is $13,200
Answer:
Oct 31
Dr Cash $7,201
Cr Notes receivable—R. Albany $7,000
Cr Interest revenue $201
Explanation:
Preparation of Jun's journal entry assuming the note is honored by the customer on October 31, of that same year
Oct 31
Dr Cash $7,201
($7,000+$201)
Cr Notes receivable—R. Albany $7,000
Cr Interest revenue $201
(11.5%*7,000*90/360)
Answer:
25%
Explanation:
Given:
Seth has a monthly income of $2,500
He has a $400 car payment
He owes $225 on electronic equipment.
Question asked:
What is the percentage of Seth's income he is paying out in debt payments?
Solution:
He has a car payment = $400
He owes on electronic equipment = $225
<em>These two items are treated as debt for Seth as these items are used first then pay for it.</em>
Total debt = $400 + $225
Total debt = $625
Now, we will find percentage of Seth's income he is paying out in debt payments,


Therefore, 25% of Seth's income he is paying out in debt payments.
Innovation is the correct answer to this question.
Answer:
d. $33,641.50
Explanation:
In this question, we use the PMT formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Present value = $375,000
Future value = $0
Rate of interest = 7.5%
NPER = 25 years
The formula is shown below:
= -PMT(Rate;NPER;PV;FV;type)
So, after solving this, the answer would be $33,641.50