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svlad2 [7]
2 years ago
8

In Coronado Company, total materials costs are $38,000, and total conversion costs are $54,480. Equivalent units of production a

re materials 10,000 and conversion costs 12,000. Compute the unit costs for materials and conversion costs.
Materials cost per unit:__________ $
Conversion cost per unit:________ $
Compute total manufacturing costs:________ $
Business
1 answer:
Marat540 [252]2 years ago
6 0

Answer:

Materials cost per unit: $3.80

Conversion cost per unit:  $4.54

Compute total manufacturing costs: $92,480

Explanation:

Unit Costs = Total Cost ÷ Total Equivalent Units

<u>1. Materials </u>

Unit Cost = $38,000 ÷ 10,000

                = $3.80

<u>2. Conversion Costs</u>

Unit Cost = $54,480 ÷ 12,000

                = $4.54

<u>Total Manufacturing Costs :</u>

Materials                      $38,000

Conversion Costs        $54,480

Total                              $92,480

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Explanation:

Giving the following information:

Cash flow:

Cf1= $8,000

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Discount rate= 6%

To calculate the present value, we need to use the following formula on each cash flow:

PV= FV/(1+i)^n

Cf1= 8,000/(1.06^1)= 7,547.17

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You want to buy a new car, but you can make an initial payment of only $1,200 and can afford monthly payments of at most $850. a
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Answer:

a. The maximum price you can pay for the car is <u>$33,477.87</u>.

b. The maximum price you can pay for the car is <u>$39,411.78</u>.

Explanation:

a. If the APR on auto loans is 12% and you finance the purchase over 48 months, what is the maximum price you can pay for the car? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can be determined as follows:

<u>Calculation of the Present Value (PV) of the monthly payments</u>

To calculate, the formula for calculating the present value of an ordinary annuity is used as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 48

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^48) / 0.01)

PV = $850 * 37.9739594934803

PV = $32,277.87

<u>Calculation of the maximum price you can pay for the car</u>

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $32,277.87.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $32,277.87 = $33,477.87

Therefore, the maximum price you can pay for the car is <u>$33,477.87</u>.

b. How much can you afford if you finance the purchase over 60 months? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can also be determined as follows:

<u>Calculation of the Present Value (PV) of the monthly payments</u>

To calculate this, we use equation (1) in part (a) above, change number f months to 60 and proceed as follows:

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 60

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^60) / 0.01)

PV = $850 * 44.9550384062241

PV = $38,211.78

<u>Calculation of the maximum price you can pay for the car</u>

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $38,211.78.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $38,211.78 = $39,411.78

Therefore, the maximum price you can pay for the car is <u>$39,411.78</u>.

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2 years ago
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