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attashe74 [19]
2 years ago
15

The interest charged on a $252000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.)

Business
1 answer:
earnstyle [38]2 years ago
3 0

Answer: Interest charged=$3,780

Explanation:

Interest is the amount of money a borrower pays  to its lender for money loaned to him or her at a particular time and rate It can also be money accrued from investments or deposits in  financial institutions. It is calculated as

Interest charged = Principal x Rate x Time

= $252,000 x 6% X 90/ 360

=$3,780

The interest charged on the note payable  =$3,780

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Beverly Company has determined a standard variable overhead rate of $3.10 per direct labor hour and expects to incur 0.50 labor
Damm [24]

Answer:

Variable overhead rate variance = $ 875 favorable

Variable overhead efficiency variance = $ 4,185 favorable

Variable overhead cost variance = $5,060 Favorable

Explanation:

Standard hours = 1 hr x 2600 units = 2600 hours

Standard rate = $3.10

Actual hours = 1,250 hours

Actual rate = $2.40

Variable overhead rate variance =  ( Standard Rate - Actual Rate ) x Actual Hrs

=  ( $ 3.10 - $2.40 ) x 1250 Hrs

= $0.7 x 1250

=$ 875 favorable

Variable overhead efficiency variance = (Standard hours - Actual hours) x Standard Rate

= (2600 - 1250 ) x $ 3.10

= $ 4,185 favorable

Variable overhead spending variance = Variable overhead rate variance +  Variable overhead efficiency variance

= $875 + $4,185

= $ 5,060 favorable

Variable overhead cost variance = Standard cost - Actual Cost

= (2600 X 3.10) - (1250 X 2.40) = 8,060 - 3000

= $5,060 Favorable

5 0
3 years ago
Zoum Corporation had the following transactions during the year: Issued $250,000 of par value common stock for cash. Recorded an
ANTONII [103]

Answer:

-$210,000

Explanation:

Issued Common Stock at par for Cash $250,000

Less:

Declared and paid a cash dividend $20,000

Repayment of 6-year note payable $440,000

Net Cash provided by Financing Activities ($210,000)

8 0
3 years ago
If the expected inflation rate is 4 percent and the nominal interest rate is 9 percent, the expected real interest rate is _____
goldenfox [79]

The real interest rate is simply nominal interest rate less the inflation rate. In equation form this is equivalent to:

Real interest rate = Nominal rate – Inflation Rate

Real interest rate = 9% - 4%

Real interest rate = 5%

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7 0
3 years ago
Which of the following statements correctly describes the effects of price​ controls? A. They cause demand disruptions and could
velikii [3]

Answer:

Option a and b

Option C                

Explanation:

A . In simple words, price control refers to the  limits on the rates that can be paid for good and services produced in a marketplace that are set up and imposed by central govt.

The purpose behind these restrictions may derive from the need to preserve the availability of products even through skills shortages, and to further delay inflation, or, instead, to help ensure a guaranteed minimum income as well for manufacturers of such products or to seek to obtain a decent living wage.

B. In simple words, due to printing of new currency the supply of money ion the  market would increase which will lead to inflation in the economy which will further lead to loss in value of the existing money in hand on the individuals.

3 0
3 years ago
Select the word that best fits the definition: The way goods and services are produced, distributed, and consumed in a society.
Bumek [7]

Answer:

economy

Explanation:

The way goods and services are produced, distributed, and consumed in a society can be referred to as Economy.

I hope this helps...

4 0
3 years ago
Read 2 more answers
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