Answer:
C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days
<u>Multiple- choices</u>
A). You have to earn at least $100,000 in salary to be allowed to buy a CD
B). It is just a different name for a savings account
C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days
D). Only large banks offer them
Explanation:
Banks and other financial institution offer certificates of deposit (CD) saving account to customers who intend to limit the number of withdraws. This type of savings account pays a higher interest rate than the regular savings account. A customer wishing to open this account agrees with the bank on the duration that they want to save the money. Withdrawals can only be made after the agreed period lapses. Should the customer demand for their money before the end of the agreed period, they may get penalized by the banks.
The statement is false. When goods are sold, their cost are transferred from finished goods to sold items.
Answer:
Find the answer in the file attached.
Answer:
The correct answer is $312.5.
Explanation:
According to the scenario, the computation of the given data are as follows:
The interest amount after one month of issue considered as accrued interest.
So, Face value = $45,000
interest rate = 12%
Period = 1 month
So, we can calculate the accrued interest by using following formula:
Accrued interest amount = ( FV × rate) ÷ 12
= ($45,000 × 12% ) ÷ 12
= $312.5
Answer:
Product 1 $100
Product 2 $200
Explanation:
Indirect production costs are those costs which is not directly attributable to specific product / service. These costs are other than the direct material and direct labor cost.
First of all we will calculate the Indirect overhead allocation rate per machine hour.
Indirect production cost allocation rate = Indirect production cost / Level of Production
Indirect production cost allocation rate = $100,000 / 10,000 machine hours = $10 per machine hour
Now we will allocate this cost to each unit
Indirect production cost = Indirect production cost allocation rate x Numbers of hours per unit
Product 1 = $10 per machine hour x 10 machine hours per unit = $100 per unit
Product 2 = $10 per machine hour x 20 machine hours per unit = $200 per unit