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maria [59]
3 years ago
14

You are hoping to buy a new boat 3 years from now, and you plan to save $5,800 per year, beginning one year from today. You will

deposit your savings in an account that pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now
Business
1 answer:
sweet-ann [11.9K]3 years ago
3 0

Answer:

FV= $17,701.6

Explanation:

Giving the following information:

Annual deposit (A)= $5,800

Interest rate (i)= 5.2%

<u>To calculate the future value after the third deposit, we need to use the following formula:</u>

<u></u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,800*[(1.052^2) - 1]} / 0.052 + 5,800

FV= $17,701.6

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podryga [215]

Answer:

A and B.

Explanation:

Understand  cost classification used for assigning costs to cost objects can be divided in direct costs and indirect costs.

Direct costs are those who can be easily and conveniently traced to a unit of product or other cost object. Examples are direct material and labor.

Indirect costs are those who cannot be easily and conveniently traced to a unit of product or other cost object. Example manufacturing overhead.

The common costs are the indirect costs incurred in support a number of cost objects. These costs cannot be traced to any individual cost object.

Determining cost tracing and allocation is more art than science, as it's difficult to trace costs with 100 percent accuracy.

Tracing costs becomes even more difficult when a cost goes toward producing multiple goods or services.

3 0
3 years ago
Rubbermaid Plastics plans to purchase a rectilinear robot for pulling parts from an injection molding machine. Because of the ro
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Answer:

The present worth of the cost savings if the company uses an interest rate of 15% per year on such investments is $442108.5079.

Explanation:

Present Worth = $100,000/(1 + 15%) + $100,000/(1 + 15%)^2 + $100,000/(1 + 15%)^3 + $200,000/(1 + 15%)^4 + $200,000/(1 + 15%)^5

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Therefore, the present worth of the cost savings if the company uses an interest rate of 15% per year on such investments is $442108.5079.

3 0
3 years ago
Sheffield Corp. had credit sales of $1696000. The beginning accounts receivable balance was $175000 and the ending accounts rece
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Answer:

$1,574,000

Explanation:

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= $1,692,000 - $122,000

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7 0
3 years ago
Cromwell manufactures specialty electronic circuitry through a unique photo-electronic process. One of the primary products, Mod
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Answer:

the  labor rate variance and labor efficiency variance is $2,000 favorable and $3,500 unfavorable

Explanation:

The computation of the labor rate variance and labor efficiency variance is given below;

For Labor rate variance

= $12,000 - (2000 × 7)

= $2000 F    

And, the Labor efficiency variance is

= 7 × (2000 - 3000 × 0.5)

= $3500 U

Hence, the  labor rate variance and labor efficiency variance is $2,000 favorable and $3,500 unfavorable

8 0
3 years ago
To illustrate the benefits of the Dixie Chopper brand lawn mowers to professional landscapers, the salesperson asks prospects to
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Answer:

The correct answer is:  Showmanship.

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3 years ago
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