Answer:
Annual deposit= $8,896.79
Explanation:
Giving the following information:
You believe you will spend $47,000 a year for 13 years once you retire in 26 years.
The interest rate is 7% per year.
<u>First, we need to calculate the total amount required:</u>
FV= 47,000*13= $611,000
<u>Now, using the following formula, we can determine the annual deposit:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (611,000*0.07) / [(1.07^26) - 1]
A= $8,896.79
Answer:
Manufacturing overhead volume variance= $5,000 favorable
Explanation:
Giving the following information:
Estimated overhead allocation rate= 4 + 6= $10 per direct labor hour
Actual number of hours= 31,500
Standard hours were allowed= 32,000
<u>To calculate the overhead volume variance, we need to use the following formula:</u>
<u></u>
Manufacturing overhead volume variance= (Estimated manufacturing overhead rate*<u>standard</u> allocation base) - (Estimated manufacturing overhead rate* Actual amount of allocation base)
Manufacturing overhead volume variance= (10*32,000) - (10*31,500)
Manufacturing overhead volume variance= $5,000 favorable
Answer: Hope this helps!
Explanation:
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Answer:
d) $57,500
Explanation:
For computation of gross margin under absorption costing first we need to find out the unit product cost under absorption costing which is shown below:-
Unit product cost under absorption costing = Direct materials + Direct labor + Variable manufacturing overhead + (Fixed manufacturing overhead ÷ Units produced)
= $32 + $45 + $2 + ($43,500 ÷ 2,900)
= $32 + $45 + $2 + $15
= $94 per unit
Gross margin = Units sold × (
Selling price - Unit product cost under absorption costing)
= 2,500 × ($117 - $94)
= $57,500