Yoinkers my dude, take some and pass on.

On April 1, 2018, John Vaughn purchased appliances from the Acme Appliance Company for $1,200. In order to increase sales, Acme

Darina [25.2K]

Answer:

The monthly payment necessary for John to pay for his purchases is $88.4 per month

Explanation:

Fixed Installment payment for a fixed period period of time with a specified interest rate is the type of annuity.

According to given data

Present value of appliance= PV = $1,200

Numbers of Payments = n = 18 months

Interest rate = r = 24% annually = 2% monthly

Value on October 1, 2018 = 1200 x ( 1 + 2%)^6-1 = 1,325

Monthly payment can be calculated by using following fomula

PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]

$1,325 = P x [ ( 1- ( 1+ 2% )^-18 ) / 2% ]

$1,325 = P x [ ( 1- ( 1+ 0.02 )^-18 ) / 0.02 ]

$1,325 = P x [ ( 1- ( 1.02 )^-18 ) / 0.02 ]

$1,325 = P x 14.992

P = $1,325 / 14.992

P = $88.4

8 0

3 years ago

Jane sent her boss an e-mail suggesting that they have a performance review to see whether jane was ready for a raise. her boss

d1i1m1o1n [39]

She should have had face to face conversation because in an email words can express many misinterpreted feelings, she should have asked to have a personal meeting in the email over her review

8 0

3 years ago

Read 2 more answers

Preferred stock is often considered a more conservative (less aggressive) investment than common stock because: a. its holders h

Aneli [31]

Answer:

b. it is less volatile and more like a bond

Explanation:

Preferred stocks pay a fixed dividend and has the potential to appreciate in price.

Preferred share holders have no voting right but they are paid first before common shareholders.

I hope my answer helps you

6 0

3 years ago

The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods invent

weqwewe [10]

Answer: $57,000

Explanation:

Given that,

Beginning finished goods inventory in units = 0

Units produced = 7,000

Units sold = 5,100

Sales = $663,000

Materials cost = $140,000

Variable conversion cost used = $70,000

Fixed manufacturing cost = $490,000

Indirect operating costs (fixed) = $102,000

Total Variable cost of units produced = Materials cost + Variable conversion cost used

= $140,000 + $70,000

= $210,000

$Variable\ cost\ per\ unit = \frac{Total\ variable\ cost}{units\ produced}$

= $\frac{210,000}{7,000}$

= $30

Units in ending inventory = Units produced - Units sold

= 7,000 - 5,100

= 1,900

Value of Variable costing ending inventory = Units in ending inventory × Variable cost per unit

= 1,900 × $30

= $57,000

5 0

3 years ago

TB MC Qu. 6-70 Awtis Corporation has a margin of ... Awtis Corporation has a margin of safety percentage of 25% based on its act

icang [17]

Answer:

$39,160

Explanation:

Awtis corporation has a margin of safety percentage of 25%

= 25/100

= 0.25

The break even point is $213,600

The variable expenses is 45%

= 45/100

= 0.45

The first step is to calculate the contribution margin ratio

Contribution margin ratio= 1-variable expenses

= 1-0.45

= 0.55

The fixed expenses can be calculated as follows

Fixed expenses= break even sales × contribution margin ratio

= $213,600×0.55

= 117,480

The total actual sales can be calculated as follows

= Break even sales/(1-margin of safety)

= $213,600/(1-0.25)

= $213,600/0.75

= $284,800

Therefore, the actual profit can be calculated as follows

Actual profit= Contribution margin ratio×sales - fixed expenses

= 0.55×284,800-$117,480

= $156,640-$117,480

= $39,160

Hence the actual profit is $39,160

7 0

3 years ago