The accountant have upon retirement $336,509.63
What is the future value of an annuity?
The accumulated balance in the accountant's retirement account upon retirement is the future value of $6,000 invested for 3 years earning 4% annual rate of return using the future value formula of an ordinary annuity as shown below:
FV=PMT*(1+t)^N-1/r
FV=accumulated balance after 30 years=unknown
PMT=annual investment=$6,000
r=rate of return=4%
N=number of annual investments in 30 years=30
FV=$6000*(1+4%)^30-1/4%
FV=$336,509.63
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Answer:
$3,400
Explanation:
The total amount of estimated manufacturing overhead is calculated as;
= Salary of production supervisor + Indirect materials + Rent on factory equipment
Given that;
Salary of production supervisor = $2,000
Indirect materials = $400
Rent on factory equipment = $1,000
Therefore, Estimated manufacturing overhead ;
= $2,000 + $400 + $1,000
= $3,400
Days of sales outstanding = 40.29 days
365 x Account receivable/Net sales
= 365 × 3400/30800 = 40.29 days
Net sales is the sum of a company's gross sales minus returns, rebates, and rebates. Calculating net sales is not always transparent to the outside world.
Gross sales do not include deductions, but net sales include all expenses incurred during the sales process.
In business and accounting, net income is a company's income less the cost of sales, expenses, depreciation, interest, and taxes for the accounting period.
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Answer:
c) calculate real wages in both 1950 and today.
Real wage is income expressed in terms of purchasing power, which means that it is inflation adjusted for eg what $1 could buy in 1950 compared to what $1 can buy today. So when we find the real wages of today and 1950 we can compare the purchasing power of both the wages and then compare them.
Explanation:
