Answer:
a. Manufacturing overhead allocation rate for each department.
<u>Machining Department</u>
Overhead allocation rate = $2.50
<u>Assembly Department</u>
Overhead allocation rate = $4.00
b. total cost of Job #846 is $6,505
Explanation:
a. Manufacturing overhead allocation rate for each department.
<u>Machining Department</u>
Overhead allocation rate = Overhead / Machine hours
= $250,000/ 100,000
= $2.50
<u>Assembly Department</u>
Overhead allocation rate = Overhead / direct labor-hours
= $360,000/ 90,000
= $4.00
b. total cost of Job #846
Direct material cost :
Machining $2,700
Assembly $1,600
Direct labor cost :
Machining $ 400
Assembly $ 900
Overhead Costs :
Machining ( $2.50 × 170) $ 425
Assembly ( $4.00 × 120) $ 480
Total Cost $6,505
Answer:
c) 3.75 years
Explanation:
A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity. The value of the annuity is also determined by the present value of annuity payment.
Formula for Present value of annuity is as follow
PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]
Where
P = Monthly Payment = $200
r = rate of interest = 6.25%
PV = Loan amount = $8,000
As we already have the present value of annuity we need to calculate the rate of return.
$8,000 = $200 x [ ( 1- ( 1+ 6.25%/12 )^-n ) / 0.0625/12 ]
$8,000 / $200 = [ ( 1- ( 1.0052 )^-n ) / 0.0052 ]
40 x 0.0052 = 1- ( 1.0052 )^-n
0.028 = 1 - 1.0052^-n
0.028 - 1 = - 1.0052^-n
-0.792 = - 1.0052^-n
0.792 = 1/1.0052^n
1.0052^n = 1/0.792
1.0052^n = 1.2626
n log 1.0052 = log 1.2626
n = log 1.2626 / log 1.0052
n = 44.96 months
n = 44.96 / 12 = 3.75
Answer:
Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities. Entrepreneurship that fails results in losses and less prevalence in the markets for those involved. Key Takeaways
Explanation:
Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure. Entrepreneurship operates within an entrepreneurship ecosystem
Answer:
Limited Liablity Company
Explanation:
A Limited liability Company is an independent legal entity. It is a business structure whose owners are not liable for its liabilities. The obligations of a company are separate from those of its owners.
For Bill, a limited company will be the best form of partnership. Forming a company requires two or more people or entities coming together and establishing a new business. Bill and the drug company qualify to create a new company. In the event of liability form sickness, Bill will be liable to the extent of his share contribution.
Answer:
Has a formal, negotiated contract Used for a one-time transaction for a specific purpose
Explanation:
- A consumer loan is when a person borrows money to form a lender that may be secured or unsecured and they include any types of the mortgages, the refinances, home equity lines of credit, and the credit cards.
- Along with auto loans and the home loans and personal loans. As they are a type of the installments they can be negotiated and used for a one-time basis and for a specific purpose.
