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vladimir1956 [14]
3 years ago
11

Marigold Corp. makes an investment today (January 1, 2020). They will receive $72000 every December 31st for the next six years

(2020 – 2025). If Marigold wants to earn 9% on the investment, what is the most they should invest on January 1, 2020?
Business
1 answer:
gogolik [260]3 years ago
3 0

Answer:

$322,986.14

Explanation:

Formula: Present Value = PMT x ((1 - (1 + r) ^ -n ) / r)

PMT = 72,000

r = 9%

n = 6

Therefore Present Value = 72000 x ((1-(1+0.09)^-6)/0.09)

= $322,986.14

Hence, if Marigold Corp. makes an investment today of $322,986.14

They will receive $72000 every December 31st for the next six years, If they want to earn 9% on the investment.

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Which of the following is a mutually exclusive cost pool used in activity-based cost accounting? a. All of the answers are corre
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Answer:

The correct answer is A: All of the answer are correct

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3 years ago
Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system
xz_007 [3.2K]

Answer:

Phillips Corporation

a = 9,050 beginning balance Raw Materials

b = 36,660 beginning balance WIP

c = 15,650 direct materials

d = 6,825 Overhead applied

e = 13,500 Ending balance WIP

f = 5,500 beginning balance Finished Goods

g = 54,625 Completed jobs

h = 4,300 ending balance Finished Goods

i = 9,100 wages assigned

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k = 3,125 indirect labor

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m = 55,825 cost of goods sold

Explanation:

a) Data and Analysis:

1. Jobs in process:

Job No. 154 and Job No. 155

Combined direct materials costs    $9,950

Combined direct labor costs            15,200

Overhead applied (75%)                    11,400

Total work in process, beginning $36,550

2. Jobs started in December:

             Job Nos. 156,           157, and       158

Direct materials                                     $4,400

Direct labor                                             5,200

Overhead applied (75%)                        3,900

Total work in process                        $13,500

Beginning work in process = $36,550

Ending work in process = $13,500

Beginning Finished Goods Inventory: Job 153 $5,500

Ending Finished Goods Inventory: Job 157 $4,300

Raw Materials Inventory

Dec. 1 Beginning balance  9,050 (a)  

Dec. 31 Requisitions                      18,950

Dec. 31 Purchases           18,025

Dec. 31 Ending balance                  8,125

Total                                27,075  27,075

a = $9,050 (27,075 - $18,025)

Work in Process Inventory

Dec. 1 Beginning balance $36,550  b.

Dec. 31 Jobs completed               54,625 (g)

Dec. 31 Direct materials     15,650  c.

Dec. 31 Direct labor              9,100

Dec. 31 Overhead                6,825  d.

Dec. 31 Ending balance                13,500 e.

Finished Goods Inventory

Dec. 1 Beginning balance        5,500 f

Dec. 31 Cost of goods sold            55,825 (m)

Dec. 31 Completed jobs    54,625 g.

g. Dec. 31 Ending balance                  4,300 h

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Dec. 31 Factory wages         12,225

Dec. 31 Wages assigned                    9,100

Dec. 31 Overhead                               3,125

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Dec. 31 Indirect materials 3,300

Dec. 31 Overhead applied                 6,825  d.

Dec. 31 Indirect labor        3,125  k.

Dec. 31 Other overhead   1,545

Dec. 31 Underapplied overhead        1,145

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d) $16.92

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