The ____ adds up the market prices of final goods and services

On March 1, 2018, Mandy Services issued a 9% long-term notes payable for $15,000. It is payable over a 3 - year term in $5,000 p

babymother [125]

Answer:

Correct option is (B)

Explanation:

Given:

Principal amount = $15,000

Interest rate = 9% or 0.09

Maturity = 3 years

Every year Mandy Services make payment of $5,000 of principal amount and interest accrued in the previous year. In 2019, Interest accrued for 2018 would be:

Interest = Principal × rate × time

= 15,000 × 0.09 × 1

= $1,350

Total payment made by Mandy in 2019 = 5,000 + 1,350

= $6,350

7 0

3 years ago

The finance team of a concert venue is drafting budget for succeeding year. Arrange the steps in preparing a budget

RoseWind [281]

Answer:did you ever get an answer because I don’t know.

Explanation:

5 0

3 years ago

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, an

WINSTONCH [101]

Answer:

1. Grinding Department's equivalent units of production for materials and conversion in May.

materials : 395,000

conversion : 368,600

2. Grinding Department's costs per equivalent unit for materials and conversion for May.

materials : $2.35

conversion : $1.00

3. Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May.

materials : $2.35×88,000 = $206,800

conversion : $1.00×61,600 = $ 61,600

Total : = $268,400

4. Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May.

materials : $2.35×307,000 = $ 721,450

conversion : $1.00×307,000 = $ 307,000

Total : = $1,028,450

Explanation:

1. Grinding Department's equivalent units of production for materials and conversion in May.

materials

Closing Work In Process Inventory 100% = 88,000

Completed and Transferred 100% = 307,000

Total = 395,000

conversion

Closing Work In Process Inventory 70% = 61,600

Completed and Transferred 100% = 307,000

Total = 368,600

2. Grinding Department's costs per equivalent unit for materials and conversion for May.

costs per equivalent unit = Total Cost / Total equivalent units

materials = ( $709,250+$219,000)/395,000

= $2.35

conversion = ( $280,600+$88,000)/368,600

= $1.00

3. Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May.

materials : $2.35×88,000 = $206,800

conversion : $1.00×61,600 = $ 61,600

Total : = $268,400

4. Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May.

materials : $2.35×307,000 = $ 721,450

conversion : $1.00×307,000 = $ 307,000

Total : = $1,028,450

6 0

3 years ago

Quantitative Problem: Jenna is a single taxpayer. During 2018, she earned wages of $113,000. She doesn't itemize deductions, so

noname [10]

Solution :

Item Amount

Income $113,000

Personal exemption for one $ 4,050

Standard deduction $ 6,350

Taxable income $102,600

Therefore the taxable income is $102,600.

Now the tax payable on the taxable income is given by :

Marginal tax rate Amount brackets

10% $0 - $ 9,325

15% $ 9,326 - $ 37,950

25% $ 37,951 -$ 91,900

28% $ 91,901 - $ 191,650

Now according to the above taxable slab, the amount of tax on the wages earned by Jenna is :

Tax payable = $= (0.1 \times 9325)+(0.15 \times (37950 - 9325))+(0.25 \times (91900 - 37950))+(0.28 \times (102600-91900))$ $= (0.1 \times 9325)+(0.15 \times 28625)+(0.25 \times 53950)+(0.28 \times 10700)$

= 932.5 + 4293.75 + 13487.50 + 2996

= $ 21,709.75

There is also a long term capital gain of $ 5,200 that is earned by selling the common stock.

Now as per IRS, the capital gain of a long term tax percentage for an individual single filer is in 28% tax slab category is 15%.

Therefore the tax on the capital gain of $ 5,200 is = 0.15 x 5200

= $780

Thus the total tax payable by Jenna is = $ 21,709.75 + $ 780

= $ 22,489.75

5 0

3 years ago

Baird Bros. Construction is considering the purchase of a machine at a cost of $125,000. The machine is expected to generate cas

andre [41]

Answer:

$1,747

Explanation:

Given:

Generate Cash flows = $20,000 per year

Salvage value = $10,000

Interest = 10% = 0.10

Computation:

Net present value = PV of cash inflows - PV of cash outflow

= [($20,000 X 6.1446) + ($10,000 X 0.3855)] - $125,000

= [$122,892 + 3855] - $125,000

= $1,747

PV factor (for salvage value)

$(1+r)^{-n}\\(1+0.10)^{-10}\\0.3855$

Inflow PV factor = 6.1446

4 0

3 years ago