Answer and Explanation:
The computation of the cost of the finished goods inventory reported is as follows:
Absorption costing is
= ($30 + $18 + $22 + $14) × 21,500 units
= $1,806,000
And,
Variable costing is
= ($30 + $18 + 14) × 21,500
= $1,333,000
In this way the cost of the finished goods inventory should be determined
Answer: <em><u>A statement of opinion </u></em>is the warranty that was associated with this contract.
Here, it is important to ponder upon the fact that <em><u>Sam decided to buy the painting for $15,000 on the condition that if he found that the painting was worth less than $15,000, Jasper would have to take the painting back and refund Sam. </u></em>
This indeed makes Sam's purchase validated with a warranty that is known as a statement of opinion. Although , it should be duly noted that the opinion does not make significant impact on the purchase.
The correct answer is any amount higher than $5,400.
First, you need to solve the break even point of sales when Chris will earn the exact same amount by plan a or plan b. The following equation will solve this problem, with x being the amount of sales.
$360 + .09x = $630 + .04x
First, subtract .04x from both sides:
$360 +.05x = $630
Next, subtract $360 from both sides:
.05x = $270
Finally, divide both sides by .05:
X = $5,400
At $5,400 Chris will earn the same about of pay, regardless of which plan they are on. Since the commission percentage is higher on plan a, Chris is better off having plan a when sales are higher than $5,400. At this point Chris is earning 9% commission, rather than 4% in plan b.
Answer:
A
Explanation:
I'm just guessing on what seems the most appropriate, polite and sensible.
Given:
Initial balance: 2,500
introductory APR: 3.9% for the first 3 months
standard APR: 28.8% for the last 9 months.
3.9% / 100% = 0.039
0.039 / 360 * 30 = 0.00325 monthly rate for the 1st 3 months.
28.8% / 100% = 0.288
0.288 / 360 * 30 = 0.024 monthly rate for the next 9 months.
The total balance at the end of the year is 3,125.12
If Standard APR was used all through out, the total balance at the end of the year would be: 3,323.07
Introductory APR helped save:
3,323.07 - 3,125.12 = 197.95
Pls see attachment for the table I made:
Interest = Previous balance * interest rate
Ending balance = previous balance + interest