Suppose you deposit $2000 in currency into your checking account at a branch of Bank of America, which we will assume has no r
1 answer:
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Answer:
(a) $34.4
(b) $38.70(Approx).
(c) $61.9524
Explanation:
(a) Current price:
= $34.4
We use the formula:
where,
A = future value
P = present value
r = rate of interest
n = time period
(b)
= 34.4 × 1.124864
= $38.6953
= $38.70(Approx).
(c)
= 34.4 × 1.80094351
= $38.6953
= $61.9524
1. The missing amounts should be determined in the following manner:
On Company A. Materials inventory December 1 Materials inventory December 31-+Materi also purchased -Cost of direct materials
Off Company Total manufacturing costs incurred in December -Direct labor Cost of direct materials used in production -Factory
2. On Company's statement of goods manufactured should be prepared as follows:
On Company Statement of Goods Manufactured For the Month of December 2016 Materials inventory December 1 Add: Purchases Total
3. On Company's income statement should be prepared as follows:
On Company Income Statement For the Month of December 2016 Sales 1,127,000 827.400 299,600 Less: Operating expenses 117,600.
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