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Butoxors [25]
3 years ago
7

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May JuneManuf

acturing costs (1) $155,800 $190,300 $203,900Insurance expense (2) 1,080 1,080 1,080Depreciation expense 2,110 2,110 2,110Property tax expense (3) 540 540 540(1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.(2) Insurance expense is $1,070 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).(3) Property tax is paid once a year in November.The cash payments expected for Finch Company in the month of May area. $38,950b. $181,675c. $220,625d. $142,725
Business
1 answer:
Juli2301 [7.4K]3 years ago
4 0

Answer:

Total cash expense= $181,675

Explanation:

Giving the following information:

Manufacturing cost:

April= $155,800

May= $190,300

Insurance is not paid in May.

Property tax is paid in November.

Depreciation is not a cash expense.

<u>Total cash payment May:</u>

Manufacturing cost May= 190,300*0.75= 142,725

Manufacturing cost April= 155,800*0.25= 38,950

Total cash expense= $181,675

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George is a captive agent with the Englewood Insurance Company. Being a captive agent means he has signed a
Olegator [25]

True

A captive agent means they have signed a contract to stay with the company for that many number of years

5 0
3 years ago
Prices tend to be sticky because Multiple Choice government controls most prices. foreign competition discourages domestic firms
maria [59]

Answer:

firms are worried that frequent price changes would annoy consumers.

Explanation:

A price is said to be sticky when there are resistance in market price to change immediately even when changes in the economy of a particular country entails differing price of products is optimal.

In Economics, when there are monetary disturbances and a great level of macroeconomic factors in the economy of a particular country, this usually result in prices of goods and services being sticky.

Hence, prices tend to be sticky because firms are worried that frequent price changes would annoy consumers. This ultimately implies that, price stickiness arises due to the fact that business firm or entity are very much concerned or worried that a frequent change in the price of goods and services would make the consumer annoyed.

4 0
2 years ago
In contrast to goods and services markets, _____________ are rare in labor markets, because rules that prevent people from earni
Anestetic [448]

Answer:

price ceilings

Explanation:

In contrast to goods and services markets, <u>price ceilings</u>  are rare in labor markets, because rules that prevent people from earning income are not politically popular.

8 0
3 years ago
Calculate the present value of the following: a-1. Annual payment of $800 for 10 years at 5% interest. (Do not round intermediat
kipiarov [429]

Answer:

a-1 Present value = 6,177.39

a2- Present Value =6,227.79

a3- Choose the payment stream with the highest present value = a2

b1- Present Value=3,353.98

b2-Present Value=2,805.28

b3-Choose the payment stream with the highest present value = b1

Explanation:

a-1 describes an ordinary annuity whose present value is calculated as follows:

Present value =PMT*\frac{[1-(1+i)^-^n]}{i}

where PMT=$800; i= 5%, n= 10

Present value =800*\frac{[1-(1+0.05)^-^1^0]}{0.05} = 6,177.39

a2- Present value =600*\frac{[1-(1+0.05)^-^1^5]}{0.05} = 6,227.79

a3- If I were receiving these payments annually, I would prefer the payment stream with the highest present value ie a2 -Annual payment of $600 for 15 years at 5% interest.

b1- Present value =800*\frac{[1-(1+0.20)^-^1^0]}{0.20} = 3,353.98

b2-Present value =600*\frac{[1-(1+0.20)^-^1^5]}{0.20} =2,805.28

b3- f I were receiving these payments annually, I would prefer the payment stream with the highest present value ie b1- Annual payment of $800 for 10 years at 20% interest.

3 0
3 years ago
Suppose the following selected condensed data are taken from a recent balance sheet of Bob Evans Farms (in millions of dollars).
Shalnov [3]

Answer:

The answer is

1. -$96 million

2. 0.52:1

Explanation:

1. Working capital = total current assets - total current liabilities

Current assets:

Cash. $ 31.9 million

Accounts receivable $21.0 million

Inventory $28.1 million

Other current assets. $23.0 milllion

Total current assets $104.0 million

And current liabilities is$200.0 million

Therefore, working capital is:

$104 - $200

= -$96 million

2. Current ratio = current assets/current liabilities

$104 million / 200 miliion

=0.52:1

3 0
3 years ago
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