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Lerok [7]
3 years ago
11

Pearsall Company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO r

eport from the actuary. The following information was included in the report: ending PBO, $113,000; benefits paid to retirees, $14,500; interest cost, $7,500. The discount rate applied by the actuary was 10%. What was the service cost for the year
Business
1 answer:
dedylja [7]3 years ago
4 0

Answer:

$45,000

Explanation:

Calculation to determine the service cost for the year

PBO, $113,000

Add benefits paid to retirees, $14,500

Less interest cost ($7,500)

Less Beginning PBO ($75,000)

($7,500/0.1)

Service cost $45,000

($113,000+$14,500-$7,500-$75,000)

Therefore the service cost for the year will be $45,000

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Shkiper50 [21]

answer

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7 0
2 years ago
Apple Valley Corporation uses a job cost system and has two production departments, A and B. Budgeted manufacturing costs for th
Ksenya-84 [330]

Answer:

For Department A, the manufacturing overhead allocation rate is : 300%

For Department B, the manufacturing overhead allocation rate is : 50%

Manufacturing overhead costs allocated to Job #432 : $30,000.

Explanation:

Apple Valley Corporation uses job cost system and it allocates overhead cost to job on basis of manufacturing labor cost.

1. To identify the manufacturing overhead allocation rate for department A:

(Manufacturing Overhead department A / Direct Manufacturing Labor Department A) * 100

= ($600,000 / $200,000) * 100

= 300%  

2. To identify the manufacturing overhead allocation rate for department B:

(Manufacturing Overhead department B / Direct Manufacturing Labor department B) * 100

= ($400,000 / $800,000) * 100

= 50%

3. To calculate the manufacturing overhead costs allocated to Job #432:

[(Department A direct labor * Manufacturing Overhead department A) / Direct Manufacturing Labor of department A ] + [(Department B direct labor * Manufacturing Overhead department B) / Direct Manufacturing Labor of department B ]

= [( $8,000 * $600,000) / $200,000] + [( $12,000 * $400,000) / $800,000]

= $30,000.

4 0
2 years ago
Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase
kipiarov [429]

Answer:

Yes

Explanation:

The 0.01 percent of the deviation plus the 0.01 percent of the sales average is not enough to get to the $6,300 daily, which means that the factor of the increase sales is the advertising campaign.

4 0
3 years ago
Suppose all stocks in Cheyenne’s portfolio were equally weighted. Which of these stocks would contribute the least market risk t
Finger [1]

Answer:

Least Market Risk - Fitcom Corp. as it has the lowest beta.

Explanation:

According to the given table, as we can see that there are 4 types of stock, 4 investment, 4 beta, and 4 standard deviations. Now, as per the requirement of the question the least market risk to the portfolio of the stock is Fitcom Corp. as it has the lowest beta that is 0.50.

Therefore the right answer is Fitcom Corp.

7 0
3 years ago
Commercial banks are funded through which of the following?
Artemon [7]
A. Commercial banks lend mi way to consumers in the form of car loans, mortgages and personal loans. The money distributed for these loans comes from deposits of other bank customers.
3 0
2 years ago
Read 2 more answers
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