Answer:
Explanation highest paying
:
Answer:
$7,200
Explanation:
The computation of the total manufacturing overhead assigned is shown below:
= ($168,640 + $127,840 + $554,400 + $1,078,000) ÷ $514,368
= 375% per direct-labor dollar.
Now
= $514,368 ÷ 8,037
= $64 per DL hour.
And,
= $64 × 30 direct labor hours
= $1920.
So,
Manufacturing overhead is
= 1920 × 375%
= $7,200
Answer: II and III
Explanation:
From the question, we are informed that a customer has a fully paid options position and is long marginable stock and that subsequently he receives a margin call on his long stock position.
The statements that are true are that the customer cannot borrow against the long options contracts to satisfy the margin call and the long option contracts have a loan value of 0%.
Therefore, option C is the right answer.
- Monthly payment = $753.45
- Interest in first month = $85
First remove the amount paid as down payment:
= 20,000 - 3,000
= $17,000
The amount to be paid monthly is a constant amount which would make it an Annuity.
The $17,000 is the present value of this Annuity so the formula for present value of annuity can be used to find the annuity.
The payment is monthly so the rate and number of periods needs to be converted:
Rate = 6%/12 = 0.5%
Period = 2 x 12 = 24 months
Annuity is:
<em>Present value of Annuity = Annuity x ( 1 - (1 + rate) ^- number of periods) / rate </em>
17,000 = A x ( 1 - ( 1 + 0.5%)⁻²⁴) / 0.5%
17,000 = A x 22.5628662
A = 17,000 / 22.5628662
A = $753.45
The interest in the first month is:
<em>= Interest rate x Amount borrowed </em>
= 0.5% x 17,000
= $85
In conclusion, the monthly payments will be $753.45 and the interest in the first month will be $85.
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