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iris [78.8K]
2 years ago
14

A town wishes to build a new school that will cost $15,000,000. The school is to be built in 10 years. The town will provide fun

ding for the new school by depositing a uniform amount into an investment fund paying 5% per year, compounded annually. How much must be set aside in each of the 10 years to provide for the new school?
Business
1 answer:
Stella [2.4K]2 years ago
7 0

Answer:

Annual deposit= $1,192,568.62

Explanation:

Giving the following formula:

Future Value= $15,000,000

Number of periods= 10 years

Interest rate= 5% compounded annually

<u>To calculate the annual deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (15,000,000*0.05) / [(1.05^10) - 1]

A= $1,192,568.62

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Jars of pickles are sampled and weighed. sample measures are plotted on control charts. the ideal weight should be precisely 11
Anvisha [2.4K]

Answer:

c. both x-bar chart and r-chart.

Explanation:

When Jars of pickles are sampled and weighed, sample measures are plotted on control charts and the ideal weight should be precisely 11 oz.

Both x-bar chart and r-chart can be used to monitor the process.

The x-bar and r-chart in statistical process monitoring (spm) are quality control charts used to monitor the process mean and process variation simultaneously, based on samples collected in subgroups in a given time.

6 0
3 years ago
order for the auto parts shop is $80; the holding cost of carrying 1 unit is $1.2 per year. The shop has 360 working days per ye
Galina-37 [17]

Answer:

Total carrying cost is $240.

Explanation:

EOQ=√(2*D*Co)/Cn

EOQ= 400 units

Annual carrying cost= (EOQ/2)*Cn

=(400/2)*1.20

=$240

4 0
3 years ago
Read 2 more answers
MarketPoint Sales currently has a credit limit of $5,000. Because MarketPoint Sales has an excellent credit rating, BITS is incr
azamat

Yes , the given statement is true

Explanation:

Since the credit limit is now 10k for purchases of Marketpoint, the demand requires them.

You will apply for an increasing or decreasing in the loan cap electronically and will actually receive an immediate decision.

You should wait 4 months before your credit limit is extended and wait 6 months after a drop in your credit ceiling for an increase.

8 0
3 years ago
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one uni
Bond [772]

Answer:

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

Explanation:

Provided information we have,

Direct Materials

Standard Quantity = 4.6 pounds

Standard Rate = $2.50 per pound

Direct Labor

Standard Hours = 0.2 hour per unit

Standard Rate = $18 per hour

Actual Materials

Actual Quantity = 20,000 pounds

Actual Rate = $2.35 per pound

Actual Labor

Labor Hours = 750 hours

Labor Cost = $14,925

Labor rate = \frac{14,925}{750} = $19.9 per hour

Actual Units produced = 4,000

1. Material Variances

Material\ Price\ Variance = (Standard\ Price - Actual\ Price) \times Actual\ Units

= ($2.50 - $2.35) \times 20,000 pounds

= $3,000

As the actual rate is less than standard rate the variance is favorable.

Material\:Quantity\ Variance = (Standard\ Quantity - Actual\ Quantity) \times Standard\ Rate

Standard Quantity = 4,000 \times 4.6 = 18,400 pounds

Material Quantity Variance = (18,400 - 20,000) \times $2.50

= - $4,000

As the actual raw material quantity used is higher than standard raw material quantity the variance is unfavorable.

2. Labor Variances

Labor\ Rate\ Variance = (Standard\ Rate - Actual\ Rate) \times Actual\ Hours

= ($18 - $19.9) \times 750 = - $1,425

As actual rate is higher than standard rate thus the variance is unfavorable.

Labor\ Efficiency\ Variance = (Standard\ Hours - Actual\ Hours) \times Standard\ Rate

Standard Hours = 4,000 \times 0.2 = 800

Labor Efficiency Variance = (800 - 750) \times $18

= $900

As the Standard Hours is more than Actual Hours the variance is favorable.

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

6 0
3 years ago
External equity refers to ________. A. how a job’s pay rate in one company compares to the job’s pay rate in other companies B.
Lerok [7]

Answer: how a job’s pay rate in one company compares to the job’s pay rate in other companies

Explanation: External equity refers to the situation when a company's pay rate differs from the market's pay rate to the employees of the organisation. It is also termed as matching strategy.

It is considered as a major factor in employing and retaining sufficient employees in the organisation. Therefore, lesser the external equity the better it is.

From the above explanation we can conclude that the correct option is A.

4 0
3 years ago
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