Answer:
- Monthly Payment for Choice 1=$665.16
- Monthly Payment for Choice 2=$627.10
- Total Closing Cost for Choice 1=$241557.60
- Total Closing Cost for Choice 2=$233456
- (A)Choice 1 be the better choice the monthly payment is higher.
- (D)Choice 2 be the better choice because the monthly payment is lower.
Explanation:
Amount of Loan needed = $140,000
- A point is an optional fee which helps you get a lower interest rate on your loan.
- Closing costs are the fees you pay when obtaining your loan.
<u>Choice 1</u>
30-year fixed rate at 4% with closing costs of $2100 and no points.
Monthly Payment
P=$140,000
Monthly Rate=4% ÷ 12=0.04 ÷ 12=0.0033
n=12 X 30 =360


Monthly Payment=$665.16
Total Closing Cost =(665.16 X 360)+2100=$241557.60
<u>Choice 2</u>
30-year fixed rate at 3.5% with closing costs of $2100 and 4 points.
Monthly Payment
P=$140,000
Monthly Rate=3.5% ÷ 12=0.035 ÷ 12=0.0029
n=12 X 30 =360


Monthly Payment=$627.10
Total Closing Cost =(627.10 X 360)+2100+(4% of 140000)=$233456
Answer:
63.54% (Approx)
Explanation:
The computation of the budgeted percentage contribution margin ratio is shown below:-
For computing the contribution margin ratio firstly we need to calculate the contribution margin in dollars
Contribution margin = Sales - Variable cost
= ($480,000 - $175,000)
= $305,000
Contribution margin ratio = Contribution margin ÷ Sales
= ($305,000 ÷ $480,000)
= 63.54% (Approx)
The networking trend that involves the use of personal tools and devices for accessing resources on a business or campus network is called BYOD or bring your own device
This trend in networking allows its users to use personal devices and tools on business and campus networks.
Answer:
The correct answer is A.
Explanation:
Giving the following information:
The estimated machine-hours for the upcoming year at 79,000 machine-hours.
The estimated variable manufacturing overhead was $7.38 per machine-hour
The estimated total fixed manufacturing overhead was $2,347,090.
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 2,347,090/79,000 + 7.38= $37.09 per machine-hour
Answer:D. reject the offer because it will produce a net loss $21,000
Explanation:
Net income or loss is the total of firm's income less it's total cost( fixed and variable) . The contract will result in a loss $5 per unit which multiply by the total units of 4200 gives $21,000