Answer:
$4,546.35
Explanation:
We use the PMT formula that is to be presented in the attachment. kindly find out below:
Provided that,
Present value = $36,875
Future value or Face value = $0
Rate = 4%
NPER = 10 years
The formula is shown below:
= -PMT(Rate;NPER;PV;FV;type)
So, after solving this, the annual payment required is $4,546.35
Answer:
$50.57 ; $175,573.6
Explanation:
The computation of the fixed and variable portions of overhead costs based on machine-hours using high low method is shown below:
Variable cost per hour = (High Overhead cost - low overhead cost) ÷ (High machine hours - low service hours)
= ($581,145 - $503,775) ÷ (8,020 hours - 6,490 hours)
= $77,370 ÷ 1,530 hours
= $50.57
Now the fixed cost equal to
= High overhead cost - (High machine hours × Variable cost per hour)
= $581,145 - (8,020 hours × $50.57)
= $581,145 - $405,571.4
= $175,573.60