Answer:
$31.50
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 1.5%/100 = 0.015 per year,
then, solving our equation
I = 700 × 0.015 × 3 = 31.5
I = $ 31.50
The simple interest accumulated
on a principal of $ 700.00
at a rate of 1.5% per year
for 3 years is $ 31.50.
Answer:
As there are 2 equations and two unknowns there is 1 solution
Answer:
1.
$5,200 a fixed manufacturing overhead cost is included in the company's inventory at the end of last year.
2.
Income Statement is Prepared in an MS Excel File Attached With this answer Please find it.
Step-by-step explanation:
1.
Fixed Manufacturing Overhead = Total Fixed manufacturing Overhead x Units in ending inventory / Units produced
Fixed Manufacturing Overhead = 65,000 x 20 / 250 = $5,200
2.
File Attached.
There is a Difference of $5,200 in net operating income between the two costing methods. The amount of fixed asset assigned to closing inventory.
