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Strike441 [17]
3 years ago
9

Katsumi applied for a credit card with a limit of $1,000. When the application was approved, Katsumi bought a new CD player and

speakers for $975. The credit card company offered to ignore the finance charges if Katsumi makes the minimum monthly payment of $15. How many months will Katsumi need to pay off the music system at this rate?
Business
1 answer:
OlgaM077 [116]3 years ago
3 0

Answer:

65 months

Explanation:

Data provided in the question:

Limit of the credit card = $1,000

Cost of the new CD player and speakers = $975

Minimum monthly payment made by Katsumi = $15

Now,

since there are no finance charges charged,

therefore,

the net payment that has to be made is $975

Therefore,

Months needed to pay off the rate

= [ Net payment amount ] ÷ [ Minimum monthly payment ]

= $975 ÷ $15 per month

= 65 months

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Alisiya [41]

Answer:

The answer is B.

Explanation:

To a layman, break-even point is the point where an entity neither make profit nor loss. It is the point where total revenue equals total cost(where the total sales line intersects the total costs line on a cost-volume-profit chart).

Points greater or above this intersection or point mean the firm is making profit and points lesser or below this intersection or point mean the firm is making loss.

4 0
3 years ago
At the beginning of a year, a company predicts total direct materials costs of $1,020,000 and total overhead costs of $1,220,000
Dima020 [189]

Answer:

Predetermined manufacturing overhead rate= $1.961 per direct material dollar

Explanation:

Giving the following information:

At the beginning of a year, a company predicts total direct materials costs of $1,020,000 and total overhead costs of $1,220,000.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,220,000/1,020,000

Predetermined manufacturing overhead rate= $1.961 per direct material dollar

5 0
3 years ago
Lawyers, accountants, and other professionals typically price by adding a standard markup for profit. This exemplifies ________.
Korvikt [17]

Answer:

B) cost-plus pricing

Explanation:

hope this helps :)

3 0
2 years ago
A company recently announced that it would be going public. The usual suspects, Morgan Stanley, JPMorgan Chase, and Goldman Sach
Deffense [45]

Answer:

$42.5 billion

Explanation:

the expected value formula = ∑ (valueₙ x probabilityₙ)

expected value = (low value x probability of low value) + (most likely value x probability of most likely value) + (high value x probability of high value)

= ($5 billion x 20%) + ($45 billion x 70%) + ($100 billion x 10%) = $1 billion + $31.5 billion + $10 billion = $42.5 billion

8 0
3 years ago
Greenwood Motels has filed a petition for bankruptcy but hopes to continue its operations both during and after the bankruptcy p
xxMikexx [17]

Answer:

The correct answer is letter "E": Reorganization.

Explanation:

A company reorganization takes place in front of the need for changing operating activities that are not bringing any profit to the organization or whose profit is minimal that it would be convenient to stop those processes. In some cases, reorganizations take place even when the firm has filed for bankruptcy.  

Under those circumstances, the objective of the entity is to be forgiven for not meeting its payment obligations for a certain period while restructuring its operations to keep the business up and running.

5 0
3 years ago
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