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sweet-ann [11.9K]
3 years ago
8

You are hoping to buy a new boat 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will

deposit your savings in an account that pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?
Business
1 answer:
USPshnik [31]3 years ago
8 0

Answer:

FV= $12,818.4

Explanation:

Giving the following information:

You are hoping to buy a new boat 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savings in an account that pays 5.2% interest.

To calculate the future value we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {4,200*[(1.052^2)-1]}/0.052 + 4,200= $12,818.4

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Firecracker Company has developed the following standards for one of its products. Direct materials: 15 pounds × $16 per pound D
Natasha_Volkova [10]

Answer:

(-$10,000) Unfavorable

Explanation:

Direct materials:

Quantity = 15 pounds  

Standard price = $16 per pound

Actual price = Purchase Price ÷ Purchase quantity

                    = 170,000 ÷ 10,000

                    = 17

Material price variance:

= Actual purchase quantity × (Standard price - Actual price)

= 10,000 × ($16 - $17)

= 10,000 × (-$1)

= (-$10,000) Unfavorable

7 0
3 years ago
Comparative advantage is Question 13 options: the ability to produce all goods at lower costs than anyone else can. the ability
svet-max [94.6K]

Answer: the ability to produce a good at a lower opportunity cost than other producers

Explanation: In other to clearly understand or grasp the definition or meaning of comparative advantage, the term opportunity cost should be understood. Opportunity cost simply means the benefit which one forfeits or losses when one chooses a certain option over the other. Comparative advantage is possessed by a certain seller or economy who is capable of selling his goods at a lower opportunity cost than its competitors. Thus, the comparative advantages weighs the size or amount of benefit forfeited or lost by sellers as a result of selling at a lower price. Thus the lower the opportunity cost, the better the comparative advantage.

4 0
3 years ago
Smith Company makes and sells a single product called a Pod. Each Pod requires 1.4 hours of labor at a labor rate of $9.60 per h
Ganezh [65]

Answer:

Total direct labor costs= $295,680

Explanation:

Giving the following information:

Each Pod requires 1.4 hours of labor at a labor rate of $9.60 per hour.

Production= 22,000 Pods.

<u>First, we need to calculate the total direct labor hours required:</u>

Total direct labor hours= 22,000*1.4= 30,800 hours

<u>Now, the total direct labor costs:</u>

Total direct labor costs= 30,800*9.6

Total direct labor costs= $295,680

3 0
3 years ago
Which of the following is NOT a section on the cash flow​ statement? A. Financing activities B. Income generating activities C.
Studentka2010 [4]

Answer:

The correct answer is (B)

Explanation:

Cash flow statement helps to identify the cash inflows and cash outflow. It shows how changes made can affect the cash statements of a company. The three sections of any cash flow statement are; financing decisions, investing decision and operating decision. These three parts are interconnected which affect cash inflows and cash outflows. Income-generating activity is not a section of the cash flow statement.

4 0
3 years ago
Assume that the General Fund paid out in cash, $195,000 related to compensated absences during the year. If the beginning balanc
OlgaM077 [116]

Answer:

B. 185.000

Explanation:

Fisrt. The forecast of the account begins with a balance of 65,000, during the year 195,000 were paid, this means that an expense of 130,000 is recorded, (195,000 - 65,000, since the expense of 65,000 was previously recorded)

Second. If at the end of the year a provision of 55,000 is determined, on the other hand the expense must be recorded for the same amount.

Then 130,000 of expenses plus the forecast of 55,000 = 185,000

5 0
3 years ago
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