What’s the bestselling movie soundtrack of all time?

Green Haven is an organization whose earnings are exempt from federal and state income taxes. Individuals who contribute money t

Ymorist [56]

Answer:

Non-profit organisation

Explanation:

According to the given details, Green heaven is probably a non-profit organisation. Non-profit organisations or NGOs are usually exempted from federal and state income taxes. These organisations are exempted from the taxes to encourage voluntary work and to help poor and needy people. Some Non-profit organisations are also listed in the stock market and they also pay dividends.

6 0

3 years ago

A year ago, Jasper Inc. sold 20-year bonds at par with a coupon rate of 4.5 percent and semiannual payments. The face value of e

scoray [572]

Answer:

= $877.32

Explanation:

The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).

Value of Bond = PV of interest + PV of RV

The value of bond for Jasper Inc can be worked out as follows:

Step 1

PV of interest payments

Semi annul interest payment

= 4.5% × 1000 × 1/2

= 22.5

Semi-annual yield = 5.6/2 = 2.8% per six months

Total period to maturity (in months)

= (2 × 19) = 38 periods (Note it was sold a year ago)

PV of interest =

22.5 × (1- (1+0.028)^(-38)/0.028)

= 22.5 ×23.20871226

= 522.196

Step 2

PV of Redemption Value

= 1,000 × (1.056)^(-19)

= 355.128

Price of bond

= 522.19 + 355.12

= $877.32

5 0

3 years ago

Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when ther

anastassius [24]

Answer:

t value is 1.495

Explanation:

The null and alternative hypothesis are :

H0 : mu = 1327

ha: mu > 1327

This is a one tailed test

Critical value = 1.771

at 0.05 significance level with df = 14-1 = 13

test statistics:

s = 411.53, n = 14

t = (xbar -mu)/(s/sqrt9n))

= ( 1491.43 - 1327)/(411.53/sqrt(14))

= 1.495

Decision:

Reject H0 if tstat > 1.771

Fail to reject H0

5 0

3 years ago

The following information applies to the questions displayed below.] McAllister, Inc. employs a normal costing system. The follo

alexgriva [62]

Answer and Explanation:

The computation is shown below:

Given that

Total manufacturing costs = $1,310,000

Cost of goods manufactured = $1,275,500

Applied manufacturing O.H = 30% of manufacturing costs

= 0.3 of 1,310,000

= $393,000

(1)

The direct labor cost is

80% of direct labor cost = Applied overhead

So direct labor cost = $393,000 ÷ 80%

= $491,250

(2) The total cost of direct material is

As we know that

Total manufacturing costs = Direct materials + Direct labor + Applied Overhead

So,

Direct materials = Total manufacturing costs - Direct labor - Applied overhead

= $1,310,000 - $491,250 - $393,000

= $425,750

(3)

The Ending work in process inventory is

As we know that

Cost of goods manufactured = Beginning work in process + Total manufacturing costs - Ending work in process

Le us s assume X to be ending work in process

Beginning work in process = X × 75% = 0.75X

Now

$1,275,500 = 0.75X + $1,310,000 - X

X = $138,000

6 0

3 years ago

Materials used in product $125,700 Advertising expense $51,700 Depreciation on plant 63,400 Property taxes on plant 23,100 Prope

Elodia [21]

Answer:

cost of goods manufactured= $356,200

Explanation:

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

Overhead:

Depreciation on plant 63,400

Property taxes on plant 23,100

Factory supplies used 31,700

Total overhead= $118,200

cost of goods manufactured= 13,800 + 125,700 + 116,100 + 118,200 - 17,600

cost of goods manufactured= $356,200

4 0

3 years ago