Answer:
to find profit make
%profit =selling price + cost price ÷ cost price
Answer:
3000* (1+ 0.06) (that little 1 at the corner there <)
= $3,180
3,180 - 3000 = $180 first year
180/12 =$15 per month
The formula is
Principal (money borrowed/3000$) times/*/x (1+ rate (0.06) ) to the power of 1
Please correct me if i got it wrong i’m studying this in class too.
Explanation:
Answer: See explanation
Explanation:
a. Cost of goods sold
This will be:
= Sales - Gross profit
= $792,000 - $462,000
= $330,000
b. Finished goods inventory at the end of the month.
This will be:
= Cost of goods manufactured - Cost of goods sold
= $396000 - $330000
= $66000
c. Direct materials cost
This will be:
= Materials purchased - Material inventory ending
= $244200 - $33000
= $211200
d. Direct labor cost
This will be:
= Manufacturing cost - Direct materials - Overhead
= $455400 - $211200 - $198000
= $46200
e. Work in process inventory at the end of the month
This will be:
= $455400 - $396000
= $59400
Note that:
Overhead cost= Indirect labor cost + Depreciation
= $171600 + $26400
= $298000
Answer:
$182,857.29
Explanation:
Here, Pharoah, Inc. average lease payments have a present value of $2,002,339
First lease payment = $340,000
Interest rate = 11%
To find the interest rate, first deduct the first lease payment.
$2,002,339 - $340,000
= $1,662,339
This is deducted so as to reduce total lease liability.
Find the amount of interest expense:
$1,662,339 × interest rate
= $1,662,339 × 11%
= $182,857.29
In its 2021 income statement, the amount of interest expense Pharoah should report from this lease transaction is $182,857.29
