Answer:
you owe $43.47 in one month
Explanation:
Daily Interest (for one month) = Balance × APR rate × [number of month / Total month in a year]
Daily Interest = $1800 × 28.99% × 1/12
= $1800 × 0.2899 × 0.0833
= $43.47
Answer:
c. Hal’s lost wages at Burger Haven
Explanation:
The opportunity cost is the cost of the best alternaive rejected to perform the current project.
We must calculate the opportunity cost for each factor when needed. The most common example, if someone is using a place for a personnal project, the opportuniy cost will be the sum of:
The rent factor, the proceeds it could receive from the space
The labor factor, the salary it could recieve if it is working on a different project.
In this case, Hal only is resining to labor factor, so the opportunity cost for collegue is the lost wages at burger haven
Understate profit and inflate assets
Answer:
The correct answer is C: $20
Explanation:
Giving the following information:
Units= 50,000 shirts and blouses per month.
The cost of its factory, raw materials, and labor is $500,000.
Increase in production= 5,000
Additional labor and raw material expense of $100,000.
Cost per shirt= 100000/5000= $20 unit
Answer:
1. LAND
All expenses that went into the preparation of a fixed assets such as land to make it available for use should be capitalized and this includes taxes.
2. EQUIPMENT.
As explained above, the expense here was incurred trying to get the machinery to be available for use so it should be capitalized.
3. EQUIPMENT.
The same logic as the above stands here as well.
4. LAND IMPROVEMENTS.
This expense does not fall under the primary purpose for which the site was acquired but is still an improvement so even though it will not be capitalized to land, it goes to Land Improvements.
5. EQUIPMENT.
The name and slogan are part of the preparation of the vehicle for use so need to be capitalized.
6. EQUIPMENT.
Installation costs are to be capitalized because they are necessary to ge the asset working.
7. PREPAID INSURANCE.
Period costs (costs that provide benefits for a year or less) are to be expensed and not capitalized which is why this is posted to prepaid insurance.
8. LICENSE EXPENSE.
Licenses typically last a year so this is a period cost that should be expensed.
