Answer:
The correct answer is letter "C": Consumer Credit Protection Act.
Explanation:
Consumer Credit Protection Act of 1968 is federal legislation that covers consumers from credit agreements from banks or financial institutions in the form of loans, overdrafts or cards. The Act determines how the credit should be marketed protecting consumers' overpriced purchases.
Answer:
Balance sheet:
Accounts receivable
Cash
Common stock
Land
Supplies
Wages payable
Income statement:
Fees earned
Supplies expense
Utilities expense
Wages expense
Explanation:
Accounts receivable, cash, land, and supplies are assets while wages payable is a liability while common stock is owner's equity, all of which are balance sheet items.
Besides, fees earned are a revenue item while utilities , suplplies and wages expenses would appear in the income statement.
Answer:
$289,000
Explanation:
Predetermined overhead rate (Fixed) = Budgeted Fixed overhead cost / Budgeted hours
Predetermined overhead rate (Fixed) = 300,000/60,000
Predetermined overhead rate (Fixed) = $5 per hours
Applied Fixed overhead = Standard hours allowed × Predetermined overhead rate(fixed)
Applied Fixed overhead = 57,800 * $5 per hours
Applied Fixed overhead = $289,000
So, the fixed overhead applied to production during the period is $289,000
Answer:
Project Size IRR
A $650,000 14.0%
B 1,050,000 13.5
C 1,000,000 11.2
D 1,200,000 11.0
Explanation:
Based on the information given the set of projects that should be accepted should be the project that has higher Internal rate of return (IRR) than the Weighted average cost of capital (WACC) percentage of 10.8% . Hence, the set of projects that should be accepted are: Project A,B,C,D
Project Size IRR
A $650,000 14.0%
B 1,050,000 13.5
C 1,000,000 11.2
D 1,200,000 11.0
Total $3,900,000
Based on the above we can see that Project A,B,C,D has a total of $3,900,000 which is higher than the retained earnings amount of $2,500,000.
Therefore the set of projects that should be accepted should be Project A,B,C,D
