Answer:
The answer is: 7% annual growth rate
Explanation:
The Rule of 70 is a way to determine how many years it will take an economy to double its GDP (or GDP per capita) with a given annual growth rate.
The formula used by the Rule of 70 is:
number of years = <u> 70 </u>
to double an economy annual percentage growth rate
In this exercise we substitute the known variables and calculate:
10 years = 70 / (annual growth rate)
annual growth rate = 70 / 10 = 7%
In a job order cost system, factory wage expense is debited to work in process inventory.
Explanation:
The costing of job orders is a system for assigning and accumulating production costs for a single production unit. When different produced items differ enough and each has considerable costs, the job order costing system is used.
The costs of each jobs include direct materials, direct work and production overhead in order to summarize the cost system for jobs. While the product is being produced, the process inventory includes direct materials and direct labor costs.
Answer:
$3,544
Explanation:
The maximum immediate expenses amount of $5000 phases out for dollar if more than $50,000 of start-up cost are incurred. Thus, the immediate expensing is $3,000
($5000 - ($52,000 - $50,000))
∴ ($5000 - ($2000) = $3000
The amortization is $544
($49,000/180) × 2 months
= $544
The total amount she may deduct = $3000 + $544 = $3544.
The fundamental purpose of a prototype is to help a company better understand its new product designs.
<h3 /><h3>What is prototyping?</h3>
It is the process of producing a sample of a product, which will serve as an initial representation that will later be produced on a large scale, helping to save time, costs and increasing learning about organizational projects.
Therefore, prototyping is a design process that helps an organization to gain more information to develop its business projects.
Find out more about prototyping here:
brainly.com/question/7509258
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Answer:
Interest expense for the year: 25,401.6
Explanation:
Carrying value of the note x 8% = interest on note payable
317,520 x 8% = 25,401.6
The interest expense will be for this amount
And the journal entry will be as follow
Interest Expense 25,401.6
Note Payable 25,401.6
As the note is discounted, we will recognize interest until maturity against the note, so it reach their face value at maturity.
Because this interest won't be exigible until maturity, they are accrued interest but do not invovle a cash disbursmement for the period.
