Answer:
Final value= $28,772.33
Explanation:
Giving the following information:
$1800 per quarter for 7 years.
Number of years= 7
Annual interes= 12% compounded monthly
We need to use the following formula to calculate the final value:
FV= {A*[(1+i)^n-1]}/i
A= semestral deposit= 1,800
n= 7*2= 14
i= {1+(0.12/12)^2} - 1= 0.0201
FV= {1,800*[(1.0201^14)-1]}/0.0201= $28,772.33
Answer:
Veronica will pay more taxes and Matt will pay less taxes to the government
Explanation:
In a progressive tax system, the percentage rate of taxation increases as the income rises. It means that individuals with a high income will be taxed at a higher tax rate than low-income earners. A progressive tax rate is based on an individual income level; the higher the income, the higher the tax rate.
Veronica earns more than Matt. Under the progressive tax system, veronica will be taxed at a higher rate than Matt. Therefore, veronica will pay more taxes than Matt.
Answer:
1. Expenses of the current period --> Period Cost
2. Applied overhead is more than actual overhead incurred -->
d. Overapplied overhead
3. Typically used by companies that make custom products -->
a. Job order cost system
4. Typically used by companies whose products are indistinguishable from each other. -->
b. Process cost system
5. Applied overhead is less than actual overhead incurred. -->
c. Underapplied overhead
Explanation:
1) as are not capitalzied throught an asset account are considered expense of the period
2) and 5) When we apply above then, there capitalization of cost that weren't incurred so we have to reduced.
When we apply below, we need to capitalize more
3) Job Order makes each job account for their materials and labor making more possible the itemization
4) process cost works with equivalent units to detemrinate the production of the period as it is constant the product from one bathc to another have no difference.