Joann finances her purchase of a $250,000 house with a 7/23 balloon payment mortgage. She pays 30 percent down on her home, and
finances the 2% closing costs with the same loan (i.e., add the closing costs to the loan amount). The initial interest rate on this 7/23 mortgage is 4.2 percent. After the initial period, the renewed interest rate is 5.6% for the remaining life of the mortgage loan. Calculate (a) the monthly payment and (b) the interest portion of the first monthly payment, after the 7/23 mortgage loan is renewed.
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Answer:
Allocated administrative cost for mixing is $81000
And allocated administrative cost for for bottling is $81000
Explanation:
We have given total number of employs for mixing = 350
And total number of employs for bottling = 350
Administrative cost = $162000
So total number of employs = 350+350 = 700
So allocation base for mixing
So allocated amount for mixing = 0.5×$162000 = $81000
Allocation base for bottling =
So allocated amount for bottling = 0.5×$162000 = $81000