Answer:
&10
Explanation:
This is a case of simple interest.
It gotten as Interest= Prt
Where:
P=principal
r=rate
t=time
Therefore
$500×2%×1= 10
Answer:
13.73%
Explanation:
Effective annual rate = (1 + APR / m ) ^m - 1
M = number of compounding = 365
= 0.1373 = 13.73%
Answer:
$506,800
Explanation:
The calculation of budgeted materials cost is shown below:-
For computing the budgeted materials cost first we need to find out the total materials for production and materials to be purchased which is here below:-
Total materials for production = Budgeted production × Pounds of raw material per unit
= 35,000 × 4
= 140,000
Materials to be purchased = Total materials for production + Ending raw materials inventory - January 1 inventory
= 140,000 + (39,000 × 4 × 30%) - 42,000
= 140,000 + 46,800 - 42,000
= 186,800 - 42,000
= 144,800
Budgeted materials cost for January = Materials to be purchased × Cost per pound
= 144,800 × $3.50
= $506,800
Answer:
The answer is $229,200
Explanation:
Cost of sales equals:
Beginning inventory plus purchases minus ending inventory.
Beginning inventory is $23,570
Purchases(net Purchase) is
Purchases $224,020
Add: Freight-In. $9,770
Minus: Purchase Returns. and Allowances. ($5,460)
Net Purchase:. $228,330
ending inventory is $22,700.
Therefore, cost of goods sold is:
$23,570 + $228,330 - $22,700
=$229,200