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Leya [2.2K]
3 years ago
9

Farmer Company issues $25,000,000 of 10-year, 9% bonds on March 1, 2017 at 97 plus accrued interest. The bonds are dated January

1, 2017, and pay interest on June 30 and December 31. What is the total cash received on March 1, 2017?
Business
1 answer:
mylen [45]3 years ago
6 0

Answer:

$24,625,000

Explanation:

On the issue date the company will receive cash equal to:

  • the face value of the bond times 97% = $25,000,000 x 97% = $24,250,000
  • plus accrued interest on the bonds = $25,000,000 x 9% x 2/12 = $375,000

total cash received on March 1, 2017 = $24,250,000 + $375,000 = $24,625,000

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Adirondak Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rat
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Answer:

Predetermined manufacturing overhead rate= $14.77 per direct labor hour

Explanation:

Giving the following information:

Estimated overhead cost for the period= $325,000

Estimated total direct labor hours for the period= 22,000

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

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

Predetermined manufacturing overhead rate= 325,000 / 22,000

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3 years ago
Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions fo
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Answer and Explanation:

Ferris Company

1. Average cost periodic

Dollars $48,000+$ 105,000

= $153,000

Units $11,000+$6,000

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Cost of Goods Sold:

9,000 units × $9.00= $81,000

Ending Inventory:

8,000 units × $9.00= $72,000

2. Average cost perpetual Jan 5th sales

Dollars 48,000

Units 6000

48,000 / 6,000 = $8.00 Cost per unit

Cost of goods Sold:

3,000 units × $8.00= $24,000

Ending Inventory:

3,000 units × $8.00= $24,000

3. Average cost perpetual Jan 12th sales

Dollars 69,000

Units 8000

69,000 / 8,000 = $8.625 Cost per unit

Cost of Goods Sold:

2,000 units × $8.625

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Ending Inventory:

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4. Average cost perpetual Jan 20th sales

Dollars 60,000+51,750

=111,750

Units 6000+6000

=12,000

111,750 / 12,000 = $9.3125 Cost per unit

Cost of Goods Sold:4,000 units ×$9.3125= $37,250

Ending Inventory:8,000 units × $9.3125= $74,500

Summary of Average Cost Perpetual

Cost of Goods Sold:

Jan 5 3,000 units= $24,000

Jan 12 2,000 units= 17,250

Jan 20 4,000units = 37,250

Total 9,000units = $78,500

Summary of Results

Cost ofGoods Sold EndingInventory

FIFO, Periodic $ 75,000 $78,000

LIFO, Periodic$87,000 $66,000

LIFO, Perpetual $82,000 $71,000

Average Cost, Periodic $81,000 $72,000

Average Cost, Perpetual $78,500 $74,500

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The up and coming corporation's common stock has a beta of 1.05. if the risk-free rate is 5.3 percent and the expected return on
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Cost of equity is calculated as -

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Answer:

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As per Expenditure method :

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