Answer:
Ans. Your monthly payments will be $1,602.37 ; The effective annual rate is 5.33%
Explanation:
Hi, first, we need to convert this APR rate into an effective monthly rate, that is, dividing 0.052/12 =0.00433 (or 0.4333%). Then we need to use the following equation and solve for A.
Where:
PresentValue= 84,500
A = periodic payments (the monthly payments that you need to make)
r = 0.004333333
n=60 months
So, let´s solve for A.
Now, in order to find the effective annual rate, we need to use the following equation.
Notice that to find an effective rate you have to start with another effective rate, otherwise it won´t work. So everything should look like this.
Meaning that the equivalent effective annual rate to 5.2% APR is 5.33% effective annual.
Best of luck.
Answer:
B. $3,300
Explanation:
The computation of the ending inventory using the FIFO method is shown below:
Since there are 25 units in hand at the end of the year
Out of which 20 units are taken from third purchased at $130 and the rest 5 units are considered for $140
So,
= 20 units × $130 + 5 units × $140
= $2,600 + $700
= $3,300
Hence, the second option is correct
Answer:
$96,080
Explanation:
Calculation of Caldwell Company amount of overhead applied to Product A using activity-based costing.
First step is to use ABC, Overhead assigned to Product A :
Using this formula
[(Number of machine setups for Product A / 1,000) * Machine setup Overhead costs] + [(Number of machine hours for Product A / 30,000) * Machining Overhead costs] + [(Number of inspections for Product A / 1,500) * Inspecting Overhead costs]
Hence:
Let plug in the formula
= [(240 / 1,000) * $105,000] + [(22,200 / 30,000) * $50,000] + [(660 / 1,500) * $77,000]
= $25,200 + $37,000 + $33,880
= $96,080
Therefore Caldwell Company amount of overhead applied to Product A using activity-based costing will be:$96,080
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