1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Scrat [10]
3 years ago
13

A home improvement firm has quoted a price of? $9,800 to fix up? eric's backyard. five years? ago, eric put? $7,500 into a home

improvement account that has earned an average of? 5.25% per year. does eric have enough money in his account to pay for the backyard fixminus??up?
Business
1 answer:
lana [24]3 years ago
4 0

The amount of money that Eric will have after 5 years given the initial amount and the interest per year (which we will assume to be compounded)

<span>                                    F = P x (1 + r)^n</span>

Substituting,

<span>                                    F = ($7,500)(1 + 0.0525)^5</span>

<span>                                    F = $9,686</span>

<span>Therefore, Eric will be short of about $113.39. </span>

You might be interested in
True Blue Corporation provided the data set forth above from its activity-based costing system.
Sidana [21]

Answer:

Unitary cost= $765.38

Explanation:

Giving the following information:

The company makes 430 units of product D28K a year, requiring a total of 690 machine-hours, 40 orders, and 10 inspection-hours per year.

The product's direct materials cost is $35.82 per unit and its direct labor cost is $29.56 per unit.

Unitary cost= direct material + direct labor + allocated overhead

<u>We don't have enough information to allocate overhead. </u>

<u>Assuming the overhead gets allocated based on machine hours, I will invent an overhead rate and cost to allocate.</u>

Estimated overhead= 300,000

Machine hours= 690

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 300,000/690= $434.78 per machine hour

<u>A unit uses:</u>

690/430= 1.61 machine hours

Unitary cost= direct material + direct labor + allocated overhead

Unitary cost= 35.82 + 29.56 + (1.61*434.78)= $765.38

8 0
3 years ago
Nicole’s Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased
denis23 [38]

Answer:

Nicole's Getaway Spa (NGS)

1. Depreciation Schedules:

A. Straight-line method:

Year       Depreciation    Book Value   Accumulated   Net Book Value

                Expense            of asset      Depreciation

Year 1        $3,000            $16,000            $3,000             $13,000

Year 2         3,000              16,000               6,000               10,000

Year 3         3,000              16,000               9,000                7,000

Year 4         3,000              16,000             12,000                4,000

Year 5         3,000              16,000             15,000                1,000

B. Units-of-production method:

Year       Depreciation    Book Value   Accumulated   Net Book Value

                Expense            of asset      Depreciation

Year 1        $3,600            $16,000             $3,600              $12,400

Year 2         3,450               16,000               7,050                  8,950

Year 3         3,300               16,000             10,350                  5,650

Year 4         3,150                16,000             13,500                  2,500

Year 5        1,500                16,000             15,000                   1,000

C. Double-declining-balance method:

Year       Depreciation    Book Value   Accumulated   Net Book Value

                Expense            of asset      Depreciation

Year 1        $6,400            $16,000             $6,400              $9,600

Year 2         3,840               16,000              10,240                 5,760

Year 3         2,304               16,000              12,544                 3,456

Year 4          1,382               16,000              13,926                 2,074

Year 5         1,074                16,000             15,000                  1,000

2. Sale of machine for $3,000 at the end of year 3:

Journal Entry of disposal:

1) Straight-line method:

Debit Cash $3,000

Credit Sale of Equipment $3,000

To record the disposal of the equipment.

Debit Sale of Equipment $16,000

Credit Equipment $16,000

To transfer equipment to sale of equipment.

Debit Accumulated Depreciation $9,000

Credit Sale of Equipment $9,000

To close accumulated depreciation.

Debit Income Summary $4,000

Credit Sale of Equipment $4,000

To record the loss from sale of equipment.

2) Units-of-production method:

Debit Cash $3,000

Credit Sale of Equipment $3,000

To record the disposal of the equipment.

Debit Sale of Equipment $16,000

Credit Equipment $16,000

To transfer equipment to sale of equipment.

Debit Accumulated Depreciation $10,350

Credit Sale of Equipment $10,350

To close accumulated depreciation.

Debit Income Summary $2,650

Credit Sale of Equipment $2,650

To record the loss from sale of equipment.

3) Double-declining method:

Debit Cash $3,000

Credit Sale of Equipment $3,000

To record the disposal of the equipment.

Debit Sale of Equipment $16,000

Credit Equipment $16,000

To transfer equipment to sale of equipment.

Debit Accumulated Depreciation $12,544

Credit Sale of Equipment $12,544

To close accumulated depreciation.

Debit Income Summary $456

Credit Sale of Equipment $456

To record the loss from sale of equipment.

Explanation:

a) Data and Calculations:

Cost of machine =     $16,000

Residual value =             1,000

Depreciable amount $15,000

Estimated useful life = 5 years

Annual depreciation expense/rate:

A. Straight-line method = $3,000 ($15,000/5)

B. Unit of production method = $1.50 per unit ($15,000/10,000)

Year 1 = $3,600 (2,400 * $1.50)

Year 2 = $3,450 (2,300 * $1.50)

Year 3 = $3,300 (2,200 * $1.50)

Year 4 = $3,150 (2,100 * $1.50)

Year 5 = $1,500 (1,000 * $1.50)

C. Double-declining balance method:

Straight-line method rate = 20% (100/5)

Double-declining rate = 40% (20% * 2)

Year 1 = $6,400 ($16,000 * 40%) Balance $9,600

Year 2 = $3,840 ($9,600 * 40%) Balance $5,760

Year 3 = $2,304 ($5,760 * 40%) Balance $3,456

Year 4 = $1,382 ($3,456 * 40%) Balance $2,074

Year 5 = $1,074 ($2,078 - $1,000) Balance $1,000

6 0
3 years ago
When a customer does not understand his or her role in the service delivery process, he or she is contributing to provider:_____
katen-ka-za [31]

When a customer does not understand his or her role in the service delivery process, he or she is contributing to provider: Gap 3

<h3>What is the Gap 3?</h3>

Gap 3 : The chasm between service quality requirements and actual service provision

The service members may encounter situations that cause this gap. It could happen as a result of poor training, inability, or reluctance to uphold the required service standards. It could result from ineffective evaluation and compensation systems. This disparity is primarily due to ineffective recruitment.

This gap may be caused by a failure to balance supply and demand. Also lacking are context, perceived control, and empowerment. An illustration would be a restaurant that communicates highly stringent criteria for the food it serves, but the personnel might not receive the right training on how to adhere to those standards.

To know more about gap 3 visit:

brainly.com/question/15411678

#SPJ4

6 0
1 year ago
What is aacceleration?<br>Who is the most active MOD here? ​
swat32

Answer:

Acceleration is the rate of change of velocity. Usually, acceleration means the speed is changing, but not always. When an object moves in a circular path at a constant speed, it is still accelerating, because the direction of its velocity is changing.

Explanation:

6 0
3 years ago
Read 2 more answers
Which of the following statements about a company's strategy is true? A company's strategy is mostly hidden to outside view and
nasty-shy [4]

Explanation:

Company strategies evolve because

of the ongoing need to respond to changing market conditions, the fresh moves of competitors, shifting buyer needs and preferences, emerging market opportunities, new ideas for improving the strategy, and any evidence that indicates the strategy is not working well.

3 0
3 years ago
Other questions:
  • Suki's salary is $1,200 per month. What is her yearly salary?
    7·2 answers
  • A university that focuses its advertising on offering a sound curriculum with consistent course offerings, extensive placement s
    14·1 answer
  • What does Blake mean by calling the lamb a “child”? A child wears soft clothes made from lamb’s wool. A child likes to run all o
    15·2 answers
  • Jeep launched the new Jeep Liberty several years ago. The Liberty is intended to compete with other moderately-sized SUVs. The m
    5·1 answer
  • Zync Corporation offers a block of its securities for sale to the investment banker that submits the highest price of all intere
    5·1 answer
  • 43. What is the difference between formal and informal structure?
    7·1 answer
  • The best type of resume to submit when changing careers is a__________ resume.
    5·1 answer
  • The majority of the public would consider it unethical to increase executive salaries significantly while minimum wage employees
    6·1 answer
  • Intelligence is analyzed information which in turn becomes decision-making intelligence when it has ramifications for the firm.
    13·1 answer
  • True or false: the interval measure indicates how long a start-up company can operate until it needs more financing.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!