Answer:
$1,532,700.
Explanation:
We know that the total budgeted overhead equals to
= Variable overhead + fixed overhead
where,
Variable overhead = (June sales units + July sales units × given percentage - beginning inventory units) × variable overhead per unit
= (299,000 units + 309,000 × 20% - 59,800 units) × $3.70
= (299,000 units + 61,800 units - 59,800 units) × $3.70
= $1,113,700
And, the fixed overhead is $419,000
Now put these values to the above formula
So, the value would be equal to
= $1,113,700 + $419,000
= $1,532,700.
The July sales units × given percentage is ending inventory units
Based on the ending balance on salaries payable in 2019, and the salaries expense, the salaries payable at December 2018 must have been $30 MILLION.
<h3>What was the Salaries payable balance?</h3>
This can be found by the formula:
= Ending salaries in 2019 - Salaries expense in 2019 + Salaries paid in 2019
Solving gives:
= 20 million - 90 million + 100 million
= $30 million
In conclusion, the ending salaries payable in 2018 was $30 million.
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Answer:
c. $800,178.79
Explanation:
In this question we use the Present value formula that is shown on the attachment below:
Given that
Future value = $1,000,000
PMT = 1,000,000 × 3% ÷ 2 = $15,000
NPER = 3 years × 2 = 6 years
Rate of interest = 11% ÷ 2 = 5.5%
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the present value would be $800,178.79
The maximum amount of interest payable that may be included on the balance sheet of the debt service fund of sue city on June 30 would be 150k.
the maximum amount of interest payable on the balance sheet = 5000000×6%/2 = 150000
In finance and economics, interest is payment from a borrower or deposit-taking economic group to a lender or depositor of a quantity above compensation of the major sum (this is, the amount borrowed), at a particular rate. it's miles awesome from a charge that the borrower may additionally pay the lender or some 0.33 celebration. it is also wonderful from a dividend that is paid with the aid of an enterprise to its shareholders (proprietors) from its income or reserve, but no longer at a selected price decided beforehand, alternatively on a pro-rata foundation as a percentage within the praise gained through hazard taking marketers whilst the sales earned exceeds the whole fees.
As an example, a patron might generally pay interest to borrow from a financial institution, so they pay the financial institution a quantity that is more than the amount they borrowed, or a customer can also earn interest on their savings, and so they'll withdraw greater than they at first deposited. In the case of financial savings, the customer is the lender, and the financial institution performs the role of the borrower.
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Answer:
Mace's average collection period is 88 days
Explanation:
Credit terms is "Net 60" which means the customer will naturally pay within 60 days. Further it is given that account average 28 days overdue. This means it takes 28 more days to collect the amount of receivables. Therefore the average collection period comes to
60 + 28 = 88 days.