3. How would your answer in part 2 change if the percentage of completion in ending inventory were as follows: materials 30%, co
1 answer:
Answer and Explanation:
The computation is shown below:
<u>Particulars direct % Equivalent Conversion % Equivalent</u>
<u> material completion units Completion Units</u>
Beginning
WIP 1,020 100% 1,020 1,020 100% 1,020
Units
started 3,700 100% 3,700 3,700 100% 3,700
(7,200 - 3,500)
Ending
WIP 3,500 30% 1,050 3,500 40% 1,400
<u>Equivalent</u>
<u>units 5,770 6,120</u>
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Answer:
He will have to come up with a bigger down payment
His monthly payments will be higher.
If Jamir leases the car, his down payment will be $1500.
If he purchases the car, his down payment will be 10% of purchase price which will be .
Hence his down payment will be higher if he purchases the car.
If Jamir leases the car, his monthly payments will be $290, as against the monthly payment of $432.46, which is higher.