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Damm [24]
3 years ago
7

Shawn Bixby borrowed $39,000 on a 150-day, 9% note. After 80 days, Shawn paid $4,200 on the note. On day 113, Shawn paid an addi

tional $6,200. Use ordinary interest. a. Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.)
Business
1 answer:
shutvik [7]3 years ago
4 0

Answer:

1,073.54 total interest

Explanation:

39,000 x 9% x 80days/360 = 780 interest expense

Payment 4,200 - 780 = 3,420 deducted form the note:

39,000 - 3,420 = 35,580

35,580 x 9% x 33/360 = 293.54 interest expense

6,200 - 293.54 = 5,906.47 deduced form the note

35,580 - 5,906.47 = 29,673,53

293.54 interest expense

780 interest expense

1,073.54 total interest

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Answer:

b

Explanation:

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3 years ago
Mendoza Company's highest point of total cost was $80,000 in June. Their point of lowest cost was $65,000 in January. The compan
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Answer:

The fixed costs per month are $50,000.

Explanation:

The problem can be presented as a system of 2 equations with 2 variables:

\left \{ {{80000=y + 16000*x} \atop {65000=y + 8000*x}} \right.

Where:

<em>y</em> are the fixed costs,

<em>x </em>are the variable costs per unit produced.

You can solve the system by the method you like. In this case im using the Gaussian Elimination method.

We start with the following AX = b matrix.

\left[\begin{array}{ccc}1&16000\\1&8000\\\end{array}\right] * \left[\begin{array}{ccc}y\\x\\\end{array}\right] = \left[\begin{array}{ccc}80000\\65000\end{array}\right]

We substract the second row by the first row.

\left[\begin{array}{ccc}1&16000\\0&-8000\\\end{array}\right] = \left[\begin{array}{ccc}80000\\-15000\end{array}\right]

We divide the second row by (-8000):

\left[\begin{array}{ccc}1&16000\\0&1\\\end{array}\right] = \left[\begin{array}{ccc}80000\\1.875\end{array}\right]

We substract the first row by 16,000 times the second:

\left[\begin{array}{ccc}1&0\\0&1\\\end{array}\right] = \left[\begin{array}{ccc}50000\\1.875\end{array}\right]

Multiplying this reduced matrix by the X matrix to interpret the results:

\left[\begin{array}{ccc}1&0\\0&1\\\end{array}\right] * \left[\begin{array}{ccc}y\\x\\\end{array}\right] = \left[\begin{array}{ccc}50000\\1.875\end{array}\right]

We can say that Mendoza Company's has<em> y = $50,000</em> fixed costs and each unit costs <em>x = $1.875</em> to produce. Therefore the answer to the problem is $50,000.

8 0
3 years ago
2) The costs of direct materials are classified as: B) C) D) A) Choice A B) Choice B C) Choice C D) Choice D Conversion cost Yes
RoseWind [281]

Answer:

Manufacturing cost , Prime cost

Explanation:

The direct materials are used in production and can be directly traced to the cost object.Thus direct materials are manufacturing costs and prime cost of a cost object.

5 0
3 years ago
If a retailer needed help with store design and training sales personnel, it would most likely use the services of a?
Jet001 [13]

If a retailer needed help with store design and training sales personnel, it would most likely use the services of a full-service wholesaler.

A service is "an act or use for which a consumer, commercial enterprise, or authorities is inclined to pay." Examples include paintings by way of hairdressers, medical doctors, lawyers, mechanics, banks, coverage organizations, and many others. Public offerings are paid for by society as a whole.

Lively occupation or role. b : Employment as a servant has started. 2a : work finished with the aid of good humans. b : assist, use, use like helping.

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6 0
1 year ago
Subway, the sandwich shop, is run by Jim, Tim and Kim. When a customer arrives, Jim spends 5 minutes taking order from the custo
Marizza181 [45]

Answer:

22 minutes minimum time

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In the given scenario Subway sandwich shop has given its processes and time of each process.

We are to calculate the minimum time it will take to process a order. So we add all the times

Below is breakdown of the process time

Jim take orders 5 minutes

Tim prepares bread and Kim prepares filling for the order 7 - 10 minutes. We use 7 minutes since we are looking for minimum time.

Jim then assembles the bread 5 minutes

Time delivers order and takes payment 5 minutes

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6 0
3 years ago
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