1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zalisa [80]
3 years ago
14

Ollie and Molly Overton have just taken out a 30-year straight term loan on their new "starter home" in Bellflower. This means t

hat:________.A. They will make payments of interest only, with the principal due on the loan due date in 30 years.B. They will make payments of principal only, with the accumulated interest due on the loan due date in 30 years.C. They will make payments of interest and principal on an equal basis until the final payment, which will be larger than the rest, is made at the end of the loan term.D. They will make regular payments of principal and interest, and the entire loan will be paid off by the end of the term.
Business
1 answer:
vivado [14]3 years ago
7 0

Answer:

A. They will make payments of interest only, with the principal due on the loan due date in 30 years.

Explanation:

In this scenario, Ollie and Molly Overton have just taken out a 30-year straight term loan on their new "starter home" in Bellflower.

A straight term loan is also known as a straight term mortgage or an interest only loan. It can be defined as a type of loan in which the borrower pays only interest during the term of the loan, while the entire principal amount is to be paid for with the final interest payment at the maturity date (loan due date).

This ultimately implies that, Ollie and Molly Overton will make payments of interest only, with the principal due on the loan due date in 30 years.

You might be interested in
Can we get negative cost of equity? and what does it represent?
Dovator [93]
Yes u can get negative cost of equity
8 0
3 years ago
Read 2 more answers
Larance Detailing's cost formula for its materials and supplies is $1,910 per month plus $10 per vehicle. For the month of Novem
gladu [14]

Answer:

$2,420

Explanation:

Calculation to determine what The materials and supplies in the flexible budget for November would be closest to:

Using this formula

Cost = Fixed cost + (Variable cost per unit × q)

Let plug in the formula

Cost= $1,910 + $10 × 51

Cost= $2,420

Therefore The materials and supplies in the flexible budget for November would be closest to:$2,420

4 0
2 years ago
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the follo
Kobotan [32]

Answer:

Prime costs= $480,000

Explanation:

Giving the following information:

Grin produced 4,000 cameras with the following costs:

Direct materials $400,000

Direct labor 80,000

Manufacturing overhead 320,000

To calculate the prime costs we need to use the following formula:

Prime costs= direct material + direct labor

Prime costs= 400,000 + 80,000= $480,000

8 0
3 years ago
In Australia Coca-Cola launched Mother, an energy drink. However, most people did not like the taste. Rather than introducing an
vitfil [10]

Answer: (D) Styling

Explanation:

The coca-cola is changing the styling of products as it increase the marketing and the business. By changing the styling of existing product we make the product more attractive by developing new ideas on the product.

We can create and develop the new product by changing the existing drawbacks and create into the new styling of the product and also re-position the existing product in the market.

By advertising the new products on the different types of platform like the social media we advertising the brand of the products.

Therefore, Option (D) is correct.  

5 0
3 years ago
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upco
inessss [21]

Answer:

<u>Over Applied Overhead      = $ 4000</u>

Actual Manufacturing Overhead = $45,000

Manufacturing Overhead Applied = $ 49,000

Explanation:

                                          Job 101        Job 102        Job 103

Total Direct materials      $ 19,200     $ 14,400       $ 9,600       $ 43,200

Direct labor                    $ 28,800       $ 11,200        $ 9,600      $ 49,600

Machine hours              1,000 hrs        4,000 hrs      2,000 hrs   7,000 hours

<u>Manufacturing overhead   $ 7000       $ 28,000      14,000 </u>

<u>Total                                $ 55,000         53,600        33,200</u>

Actual overhead costs recorded during the first month of operations totaled $45,000.

<u>Journal Entries </u>

<u>Sr. No                    Particulars                 Debit                   Credit</u>

Job 102              Finished Goods           53,600

                           Work In Process                                     53,600

A journal entry showing the transfer of Job 102 into Finished Goods Inventory upon its completion.

Job 101                Sales                         60,000

                        Cost Of Goods Sold                              60,000

Journal entries to recognize the sales revenue and cost of goods sold for Job 101.

Job 101              Cost of Goods Sold        55,000

                          Finished Goods Inventory                  55,000

Manufacturing Overhead Applied =   $ 7000 + $ 28,000+14,000 = $ 49,000

Job 101 = 1000/60,000 * $ 420,000= $ 7000

Job 102 = 4000/60,000 * $ 420,000= $ 28000

Job 103 = 2000/60,000 * $ 420,000= $ 14000

Actual Manufacturing Overhead = $45,000

<u>Over Applied Overhead      = $ 4000</u>

                                   

      Manufacturing Overhead  Accounts $ 4000  debit                  

              Cost of Goods Sold          $ 4000 Credit

Entry to transfer the balance of the Manufacturing Overhead account to Cost of Goods Sold.

(Entry to reduce the amount of Over applied Overhead)                                

                         

6 0
3 years ago
Other questions:
  • Opportunity cost is defined as A. the monetary expense associated with an activity. B. the highest valued alternative that must
    6·1 answer
  • Bank A has an increase in deposits of $20 million dollars and all bank reserve requirements are 10%. Bank A loans out the full a
    12·1 answer
  • Scheming Friends.Willy very much wants to rent a basement apartment in Weaver's home.Willy threatens to tell all Weaver's friend
    6·1 answer
  • In order to determine net cash provided by operating activities, a company must convert net income from an accrual basis to a ca
    10·1 answer
  • Certain balance sheet accounts of a foreign subsidiary of the Rose Co. had been stated in U.S. dollars as follows: Stated at Cur
    14·1 answer
  • Which of the following is a potential safety hazard?
    10·2 answers
  • All of the following are the ways property can be transferred at death, except by: Group of answer choices disclaimer. will. con
    7·1 answer
  • Suppose a company earns a profit this year and has a dividend payout ratio of one half. What does this mean?
    6·1 answer
  • the area of a rectangle is 600 cm2 and its breadth is two-third of its length find the length and breadth of the rectangle​
    7·1 answer
  • The major activity in strategic planning is the analyses of a business​ __________.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!