Answer:
FV= $33,094.2
Explanation:
Giving the following information:
Present value (PV)= 50*100= $5,000
Number of periods (n)= 2020 - 1960= 60 years
Apreciation rate (g)= 3.2% = 0.032
<u>To calculate the value of the collection in 2020, we need to use the following formula:</u>
Future value= PV*(1 + g)^n
FV= 5,000*(1.032^60)
FV= $33,094.2
Answer:
A.$13,000
Explanation:
The computation of ending balance is shown below:-
Factory overhead = $24,000 × 50%
= $12,000
Total cost = Direct material + Direct labor + Factory overhead + Current period cost + Opening work in progress
= $76,000 + $24,000 + $12,000 + $10,000
= $122,000
Ending work in progress = Total cost - Cost of units transferred
= $122,000 - $109,000
= $13,000
Answer:
The total contribution margin for the firm is: $209,095
Explanation:
The contribution margin is calculated by using following formula:
Contribution margin = Total sales – Total variable costs
In International Imports,
Total sales = $674,500
Total variable costs = cost of goods sold + total variable selling and administrative expense = $404,700 + $60,705 = $465,405
Contribution margin = $674,500 - $465,405 = $209,095
