Principle is the amount borrowed or invested in or from a bank or a financial institution. In this case the principle is $ 25,000, interest rate is 8% and the interest period is 5 years.
Thus amount to be paid after a period of 5 years will be 25,000 ( 1 +0.08)∧5
= 25,000 (1.08)∧5
=25,000 × 1.4693
=$36,733.20
To calculate the interest we subtract the principle sum from the Amount to be paid.
= $36733.20- $25000=11733.20
Therefore, interest =$ 11733.20
Net present value is
Present value of annual cash flows-project investment
Net present value
12,900×3.0373−44,500=(5,319)
<span>a.
</span>Compare designated amounts from the accounts
payable listing with the voucher and supporting entitites.
<span>b.
</span>Select a sample of receiving documents for a few
days before and after year end.
<span>c.
</span>Obtain a listing of the accounts payable and
agree total to general ledger control account.
<span>d.
</span>Review drafts of the financial statements
Answer:
$75
Explanation:
We know,
Manufacturing overhead rate = Budgeted manufacturing overhead ÷ Budgeted direct labor hours
Given,
Budgeted manufacturing overhead = $4,500,000
Budgeted direct labor hours = 60,000
Putting the values into the manufacturing rate formula, we can get,
Manufacturing overhead rate = $4,500,000 ÷ 60,000 hours
Manufacturing overhead rate = $75 per labor hour.
When the standard amount of factory cost is allocated to the production of every unit, it is called the overhead manufacturing rate.
