The five main areas of finance are corporate finance, _____, financial institutions, international finance, and fintech.

Custom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year in

exis [7]

Prime costs & manufacturing overhead costs for Comfy Furniture Company totaled $214,000 and $252,000 respectively.

The direct costs of production which includes raw materials and labor is known as "Prime Cost".

The computation of Comfy Furniture Company Prime cost is as follows:

Particulars Amount

Fabric used to upholster furniture $7,000

Freight-in (on raw materials) $2,500

Wages paid to assembly-line workers $132,500

Lumber used to build product $72,000

Total prime cost $214,000

The indirect costs of production which includes depreciation of equipment, salary and wages is known as "manufacturing overhead costs"

The computation of Comfy Furniture Company manufacturing overhead costs is as follows:

Particulars Amount

Depreciation on factory equipment $16,000

Factory supervisor salary $52,500

Lubricants used in factory equipment $3,000

Wages paid to factory maintenance workers $115,000

Utilities in factory $44,500

Total manufacturing overhead costs $252,000

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6 0

3 years ago

First, you need to make some product ingredient decisions. Which option is most appropriate for Burnin' Rock? Select an option f

Furkat [3]

Answer:

This best option amongst the list is "A"

Explanation:

Use the best ingredients, as specified in the product definition.

This is the best choice to reaching your desired quality with a form of consistency.

5 0

3 years ago

John is planning to take out a personal loan for $4,500 to buy a car. He would like to keep his monthly payments at or below $15

klemol [59]

The greatest interest rate that John can accept and meet the criteria is 12.25% compounded monthly

The monthly payment formula for a loan:

$p= (\frac{pv \times r}{1-(1+r} )^{nt}$

Where PV is the principal value of the loan,

r is the rate per month,

n is the number of months,

Here, PV = $ 4,500, n = 36,

Let r be the annual rate of interest,

P ≤ 150

$p= (\frac{4500 \times \frac{r}{12} }{1-(1+\frac{r}{12}} )^{36}\leq 150$

$375\times r \leq 150-150\times (1+\frac{r}{12})^{36}$

$r\leq 0.1225$

Thus, the greatest annual interest rate = 0.1225 = 12.25 %

Therefore, Option C is correct.

To know more about the monthly payments and interest rate, refer to the link below:

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3 0

2 years ago

Read 2 more answers

A newly created design business, Teri's Art, is finishing its first year of operations. During the year, credit sales were $

LuckyWell [14K]

Answer:

$ 925

Explanation:

Data provided:

Credit sales = $ 43,000

Collection of credits = $ 34,000

Amount written off = $ 675

Estimated uncollectible amount at the year end = $ 250

Now,

the bad debt expenses will be the total amount that has not be recovered back

i.e the amount written off + uncollectible amount

or

bad debt expenses = $ 675 + $ 250 = $ 925

3 0

4 years ago

The type of cover letter written to request assistance and support from the author’s job network:

wariber [46]

Answer:

a: networking letter

3 0

3 years ago