Answer:
$,9789.97
Explanation:
Calculation to Find the payment (X) that he will receive at year 10
Using this formula
Let plug in the formula
Present Value = CF2/(1+r)^2 + CF6/(1+r)^6 + CF10/(1+r)^10 + CF4/(1+r)^4
Let plug in the formula
17,000 = 8,500/1.06^2 + 9,000/1.06^6 + X/1.06^10 - 3,000/1.06^4
Payment (X) = (17,000 - 13,909.61 + 2,376.28)*1.06^10
Payment (X) == $,9789.97
Therefore the payment (X) that he will receive at year 10 will be $,9789.97
Answer:
True
Explanation:
At the end of the manufacturing period the overhead cost applied to manufactured goods are compared to actual cost incurred.
If, Actual Overheads > Applied overheads, we say overheads are underapplied. this means the cost of goods sold has been charged too little and must be increased.
and
If, Applied Overheads > Actual overheads, we say overheads are overapplied. this means the cost of goods sold has been charged too much and must be lowered.
Answer:
Yes, the contract is still valid.
Explanation:
Let us first clarify some terms first.
A contract is referred to as a legally binding agreement that is recognized, known and governs the rights and duties of the parties involved in an agreement. A contract is legally enforceable because it meets the features and approval of the law. An agreement basically involves the exchange of goods, transactions, services, money, or promises. In the case of breach of contract, the law awards the injured party access to legal remedies which include damages and cancellation.
Letter of revocation is an act by which a person having authority, calls back or in other words annuls a power, gift, or benefit, which had been bestowed upon another.
Yes, the contract still holds. This is due to the reason that the letter had a date mentioned on it which is August 4, a day before the contract was accepted even though the revocation letter arrived late.
Therefore, as regards to the date on the letter, the contract is still valid.
Answer:
Please see below
Explanation:
Given that:
Number of chairs sold = 35,000
Cost per chair $79
The cost of goods sold that must be eliminated from the consolidated
= Number of chairs sold × Cost per chair
= 35,000 × $90
= $2,765,000
Therefore, for computing the cost of goods sold to be eliminated, we simply multiply the number of chairs sold with cost per chair.
