Answer:
is used to control costs of manufacturing activities
helps managers determine selling prices
Explanation:
A "cost accounting system" allows a business to examine its costs. The information of these costs are then collected in order to help the company control its costs and come up with<em> an estimate of their product's cos</em>t. An accurate cost allows a company to be profitable. So, this allows the managers to determine selling prices. Costs regarding manufacturing activities are also taken into consideration.
The cost accounting system is not only used with a perpetual inventory system. It can also be used with a periodic inventory system. It does not necessarily provide a general information used by investors, rather it provides an internal information. It can also adapt according to the needs of the company. Financial accounting provides information to the <em>outside investors.</em>
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Answer:
$45,111.41
Explanation:
For calculation of value of the payments today first we need to find out the value at 3 years which is shown below:-
Value at 3 years = PMT × (1 - (1 ÷ (1 + r^n))) ÷ r
= $3,000 × (1 - (1 ÷ (1.0265 ^24))) ÷ 0.0265
= $52,776.45
Now, The value of the payment today = Value at 3 year ÷ (1 + r^n)
= $52,776.45 ÷ (1.0265^6)
= $45,111.41
Therefore we have applied the above formula.
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