Exercise 3 On 31" of December, JANDU, Ltd obtained a loan from the bank for $1,300,000. Interest rate is 5%. The company will face monthly installment payments of $6,000 as from January 15 2020 Calculate the remaining unpaid balance of the loan at 2nd of March 2020. Explain your calculation. 30 points
Answers
To calculate the remaining unpaid balance of the loan on March 2nd, we need to first determine how much of the loan principal has been paid off as of that date.
The loan was obtained on December 31st, and the first installment payment was due on January 15th, so by March 2nd, there will have been one payment made on the loan. We can calculate the amount of principal paid off in that first payment using an amortization table.
Using the loan amount of $1,300,000 and the interest rate of 5%, we can calculate the monthly interest rate by dividing the annual interest rate by 12:
5% / 12 = 0.4167%
Using this monthly interest rate and the loan amount, we can calculate the interest portion of the first payment:
$1,300,000 x 0.4167% = $5,416.67
The remaining amount of the first payment after the interest is paid will be applied to the principal balance of the loan:
$6,000 - $5,416.67 = $583.33
To calculate the new loan balance after the first payment, we subtract this principal payment from the original loan amount:
$1,300,000 - $583.33 = $1,299,416.67
So as of January 31st, the loan balance was $1,299,416.67.
To calculate the remaining unpaid balance on March 2nd, we need to account for the interest that has accrued since the first payment. Using the same monthly interest rate of 0.4167%, we can calculate the interest that has accrued on the loan from January 31st to March 2nd:
$1,299,416.67 x 0.4167% x 31 days = $17,079.63
Adding this interest amount to the loan balance as of January 31st gives us the remaining unpaid balance on March 2nd:
$1,299,416.67 + $17,079.63 = $1,316,496.30
Therefore, the remaining unpaid balance of the loan on March 2nd, 2020 is $1,316,496.30.
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Related Questions
Pls help it’s due tomorrow!
Answers
Answer:
A. Contact Information for Refrences.
Explanation:
Hi there! To me it makes the most sense because it has nothing to do with a carrer plan. Sure, refrences are benefical but they do not determine what can help you grow and succed in the workforce.
I hope this helps! Good luck! :)
1) Robolane Incorporated manufactures and distributes small robotic toys. Because most of its orders are via telephone or fax, numerous orders have to be reworked. The average cost of the reworked orders is $12.45: $5 for labor, $5.15 for more materials, and $2.30 for overhead. This ratio of costs holds for the average original order. On a recent day, the shop reworked 80 orders out of 800. The original cost of the 80 orders totaled $2,000. The average cost of all orders is $26.245, including rework, with an average selling price of $35. Required: Prepare the necessary journal entry to record the rework for the day if the shop charges such activities to Robo Department Overhead Control. Prepare journal entries to record all relevant rework charges as well as to transfer the reworked items finished goods to Finished Goods Inventory.
Answers
Answer:
Following are the Journal entries to the given question:
Explanation:
Accounts Dr Cr
Robo Department Overhead Control 996
Materials Control \((80 \times 5.15) \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 412\)
Wages Payable \((80\times 5)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 400\)
Shop overhead control\((80\times 2.30) \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 184\)
Finished Goods \(2000\)
Work in process control \(2000\)
a patient has an existing balance of $75.00. the charges for that day are $135.00. what is the total amount due on the walkout statement?
Answers
The total amount due on the walkout statement is $210.00.
To determine the total amount due on the walkout statement, you need to add the existing balance to the charges for that day.
Existing balance: $75.00
Charges for the day: $135.00
Total amount due on the walkout statement = Existing balance + Charges for the day
= $75.00 + $135.00
= $210.00
A walkout statement, also known as a discharge statement or final bill, is a document provided by a healthcare facility to a patient at the time of their discharge or the end of their visit. It summarizes the services rendered, charges incurred, payments made, and the remaining balance owed by the patient.
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Bob has a collision deductible of $500. He has Bodily Injury Liability coverage limit of $25,000. He hits another driver and injures her severely. The case goes to trial and there is a verdict to compensate the injured person for $40,000
a. How much does Bob have to pay?
b. How much does his insurance pay?
Answers
Bob will have to pay $500 for his collision deductible and additional $15,000 for the portion of bodily injury liability that exceeds his coverage limit $15,000. Therefore, Bob will have to pay a total of $15,500.
What is liability?Liability refers to the legal responsibility for one's actions or omissions that result in harm, damage, or loss to another party. In simple terms, liability means being accountable for something. Liability can arise from a wide range of circumstances, such as a car accident, a breach of contract, or a defective product. The party that is found to be liable is responsible for compensating the other party for any harm, damage, or loss they have suffered. Liability can be determined through various legal mechanisms, including contract law, tort law, and criminal law. In business, liability is an important concept to understand, as it can have significant financial and reputational consequences. Properly managing liability is essential for protecting oneself and one's business from potential legal claims.
Liability that exceeds= $40,000 - $25,000 = $15,000
Total= $500+ $15,000=$15,500
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traditional kitchen created.when a special was absent, it was a problem. how does a morden kitchen use cross training to solve that problem?
Answers
Answer: In a modern kitchen, cross-training is a common solution to address the problem of staff shortage or absence.
Explanation: In a modern kitchen, cross-training is a common solution to address the problem of staff shortage or absence. Cross-training involves training staff members to be proficient in multiple roles within the kitchen. This allows for more flexibility in scheduling and ensures that the kitchen can continue to operate efficiently even when a key staff member is absent.
For example, if a chef is absent, a line cook who has been cross-trained can step up and take over the chef's responsibilities. Similarly, if a dishwasher is absent, a prep cook who has been cross-trained can take over the dishwashing duties. This helps to ensure that the kitchen runs smoothly and that service is not disrupted.
Cross-training also has other benefits for the kitchen. It can increase employee morale by giving staff members the opportunity to learn new skills and take on new challenges. It can also help to create a more cohesive team by breaking down barriers between different roles within the kitchen.
Overall, cross-training is a valuable tool for modern kitchens to address the problem of staff shortages or absences, and it can lead to a more efficient and productive kitchen environment.
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Assess the likely macroeconomic effects of pressure on the exchange
rate of the Vietnamese dong arising from Vietnam’s increased exports.
Answers
The likely macroeconomic effects of pressure on the exchange rate of the Vietnamese dong arising from Vietnam’s increased exports would depend upon how the pressure affects the exchange rate.
Why is it so?If the exchange rate depreciates, then this would be associated with an increase in Vietnam's inflation and a decrease in real incomes as imported goods become more expensive. This would likely reduce domestic demand and hence economic growth, as well as putting upward pressure on the current account deficit if the depreciation leads to an increase in imports. On the other hand, a depreciation of the exchange rate could also lead to an increase in competitiveness of Vietnam's exports, which could offset the negative effects to some extent by leading to an increase in export earnings.
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A passbook savings account has a rate of 5.8%. Find the effective annual yield if the interest is compounded quarterly. A) 5.9% B) 5.8% C) 6% D 6,1%
Answers
The effective annual yield if the interest is compounded quarterly is 5.9%. So, the correct option is option A) 5.9%.
To find the effective annual yield of a passbook savings account with a rate of 5.8% compounded quarterly, you can follow these steps:
1. Convert the annual interest rate to a decimal: 5.8% = 0.058
2. Divide the annual interest rate by the number of compounding periods per year (quarterly = 4): 0.058 / 4 = 0.0145
3. Add 1 to the result from step 2: 1 + 0.0145 = 1.0145
4. Raise the result from step 3 to the power of the number of compounding periods per year: (1.0145)^4 = 1.059058
5. Subtract 1 from the result from step 4 to get the effective annual yield as a decimal: 1.059058 - 1 = 0.059058
6. Convert the effective annual yield from a decimal to a percentage: 0.059058 * 100 = 5.9%
So the effective annual yield of the passbook savings account with an interest rate of 5.8% compounded quarterly is A) 5.9%.
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The primary difference between a life estate and a fee simple absolute estate is that life estates...
a. automatically terminate upon the death of a named person b. are descendible c. are devisable d. are not subject to corporate tax
Answers
The primary difference between a life estate and a fee-simple absolute estate is that life estates are only valid for the lifetime of a named person, while fee simple absolute estates have no such restriction. So, the correct answer is option a.
This means that the ownership of a life estate property will automatically terminate upon the death of the named person, while a fee simple absolute estate can be passed down to heirs or sold without restriction.
Additionally, life estates are often less valuable than fee simple absolute estates, since they only grant ownership for a limited time period. However, they can still be useful in certain situations, such as allowing a person to live in a property for the rest of their life while still giving ownership to someone else.
In terms of legal and financial implications, life estates are usually devisable (meaning they can be passed down in a will) and descendible (meaning they can be inherited by relatives). They are also subject to corporate tax if the property is owned by a corporation. However, these specifics can vary depending on the state and individual circumstances, so it is always important to consult with a legal expert when dealing with property ownership.
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Identify the difference between liquidity and marketability.
Answers
Answer:
Marketability describes an attribute of an investment that means it can be sold at any time. Liquidity describes an attribute of an investment that means it can be sold at any time close to the value of the original investment.
Explanation:
Answer:
Marketability: The likelihood that something will sell; market appeal.
The house has high marketability.
Liquidity: (uncountable) The state or property of being liquid.
(economics, countable) An asset's property of being able to be sold without affecting its value; the degree to which it can be easily converted into cash.
a nurse manager is planning to request three new infusion pumps at a cost of approximately $1500 each. this item would typically be included in which budget?
Answers
The request for three new infusion pumps, costing approximately $1500 each, would typically be included in the capital budget of a healthcare facility.
The capital budget is a financial plan that outlines expenditures for acquiring or improving long-term assets, such as equipment, buildings, or technology. In this case, the nurse manager's request for three new infusion pumps falls under the category of acquiring equipment. Infusion pumps are essential medical devices used to deliver fluids, medications, or nutrients to patients in a precise and controlled manner.
As such, they are considered a capital expenditure rather than an operational expense. Including the cost of the infusion pumps in the capital budget allows the healthcare facility to plan and allocate funds specifically for long-term investments in equipment that enhance patient care and safety.
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Jeramlah is working with a difficult client. After mixing up a paint order, the client says, "Of course you mixed up this paint order. You never listen
to me, and you're always picking out weird looking colors!" What type of communication is the client using?
A. passive
B. Aggressive
C. Non-aggressive
D. Assertive
Answers
Answer: i would say he is being aggressive towards the guy
Explanation:
Which of the following parts of a business plan include the cash flow projection and profit and loss projection?
Answers
Business description and structure. This is where you explain why you're in business and what you're selling. ...
Market research and strategies. ...
Management and personnel. ...
Financial documents.
What sources do you think you can find online? Check all that apply.
novels
encyclopedias
newspaper articles
research papers
written opinions on books and movies
Answers
Answer:
I think it's written opinions on book and movies ^^
Updated peer-to-peer journals, web pages, forums and blogs are also online resources. Other names for online sources are electronic sources, web resources and online sources.
What is online information?Internet Information means any information resources we may make available online, including news, stock exchange quotes, and information about events or third parties.
Therefore, sources do you think you can find online are encyclopedias, newspaper articles,research papers,written opinions on books and movies.
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A production possibilities frontier can shift outward if :___________.
i. government increases the amount of money in the economy.
ii. there is a technological improvement.
iii. resources are shifted from the production of one good to the production of the other good.
iv. the economy abandons inefficient production methods in favor of efficient production methods.
Answers
T or F Cause-related marketing refers to the specific development, pricing, promotion, and distribution of products that do not harm the natural environment.
Answers
False. Green marketing is the advancement, pricing, promotion, as well as distribution of environmentally friendly products.
A end up causing marketing strategy seems to be a partnership between two organizations that both will gain something from of the partnership. This is typically a partnership between a for-profit company and a quasi organization. Another definition of cause marketing is when a business participates in a charity or cultural campaign. Green marketing is the promotion of products or services that are thought to be environmentally friendly. It entails a variety of activities such as product modifications, changes in manufacturing processes, changes in advertising, and product sustainability packaging. It ought to be noted that green marketing refers to the development aspect, pricing, promotion, as well as sale of goods that are less harmful to the environment.
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jordan works for a bank and decides whether to approve small business loans. he researches market saturation and the health of existing businesses before deciding how likely the prospective small business owner is to succeed. jordan is making a(n) decision.
Answers
Jordan is making an informed or data-driven decision based on research and analysis of various factors such as market saturation and the health of existing businesses.
What is Data-driven Decision?Data-driven decision-making is an approach to decision-making that relies on analyzing and interpreting data and information to inform the decision-making process. In this approach, data is collected, organized, and analyzed to provide insights and support decision-making. The goal is to make informed decisions that are based on evidence rather than intuition or guesswork.
Data-driven decision-making can be used in various fields, including business, healthcare, education, and government. It involves collecting and analyzing data from multiple sources, such as surveys, customer feedback, sales reports, and other types of data. The analysis of this data helps to identify patterns, trends, and insights that can inform decision-making.
Below is the Complete Question:
Jordan works for a bank and decides whether to approve small business loans. he researches market saturation and the health of existing businesses before deciding how likely the prospective small business owner is to succeed. Jordan is making a(n) ________ decision.
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Which of the following generates pressure to increase inventories? Pick all that apply.
Group of answer choices
Ordering costs
insurance costs
storage and handling costs
costs of theft
Answers
Ordering costs, insurance costs, storage, and handling costs, and costs of theft can all create pressure to increase inventories.
Inventory increases can result from any of the following costs: ordering costs, insurance costs, storage, and handling costs, and costs of theft.
Inventory ordering costs: A corporation's ordering expense is the sum of all the costs it incurs while placing an order. These expenditures are incurred when an order is placed and are not incurred when an order is received.
Costs of ordering typically involve the expenses incurred in order placement. The cost of placing an order is determined by multiplying the cost of a single order by the number of orders placed in a given period.
The carrying cost of inventory includes storage and handling costs, taxes, insurance, depreciation, and the opportunity cost of capital. The higher the carrying cost of inventory, the more expensive it is to maintain an inventory level. If ordering costs are less than carrying costs, a corporation will order more frequently, which will result in smaller inventory holdings.
Inventory insurance costs: Insurance costs are incurred by a company when it purchases insurance. Insurance is a coverage that protects against possible losses caused by unforeseen events. Insurance premiums are calculated based on the risk associated with the activity being insured.
Inventory storage and handling costs: Costs incurred in storing and handling inventory. These expenditures can vary depending on the type of inventory. The cost of storing inventory will rise as the inventory's size and weight increase. The cost of storing perishable goods would be higher than the cost of storing non-perishable goods. Inventory storage costs include the costs of operating warehouses, shelves, racks, and other storage facilities.
The handling cost of inventory involves the cost of loading and unloading trucks, the cost of moving goods around the warehouse, and the cost of packing and unpacking goods.
Inventory theft costs: Inventory theft costs are costs incurred by a company due to theft. The cost of inventory theft can be significant and can result in increased inventory holdings. Inventory theft costs include the cost of security measures, insurance, and lost or damaged goods that result from theft.
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Deanna is 62 years old. She plans to retire in 3 years. She has $300,000 in a savings account that yields 2.25% interest compounded daily.she has calculated that her final working years salary will be $94,000. She has been told by her financial advisor that she should have 65% of her final year annual income available for use each year when she retires
Answers
Deanna should have approximately $196,769.72 available each year during her retirement.
How to determine Deanna final year annual incomeCalculating the target retirement income:
Deanna's target retirement income is 65% of her final working year's salary. Therefore,
Target retirement income = 65% * $94,000 = $61,100
To Determine the number of years in retirement:
Deanna plans to retire in 3 years.
We Calculate the future value of her savings account at the time of retirement:
The savings account has an interest rate of 2.25% compounded daily. We'll use the compound interest formula to calculate the future value:
Future Value = Present Value * (1 + (Interest Rate / Number of Compounding Periods))^(Number of Compounding Periods * Number of Years)
Future Value = $300,000 * (1 + (0.0225 / 365))^(365 * 3)
Future Value = $300,000 * (1 + 0.0000616445)^1095
Future Value = $300,000 * 1.071924
Future Value ≈ $321,577.11
Calculating the annual retirement income:
Annual retirement income = Future Value * (Target retirement income / 100)
Annual retirement income = $321,577.11 * (61,100 / 100)
Annual retirement income ≈ $196,769.72
Therefore, according to the given information, Deanna should have approximately $196,769.72 available each year during her retirement.
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tripp ran 4.8 times as many laps as tony if tony ran 3.7 laps how many laps did tripp ran
Answers
Answer:
17.76 laps
Explanation:
Tony ran 3.7 laps. tripp ran 4.8 time more.
tripp ran
=3.7 x 4.8
=17.76
According to the video, what tasks are commonly performed by Farmworkers instead of by machines? Select three
options.
weeding
Opruning
preparing soil
transplanting
planting
Answers
Answer:
A: weeding
B: pruning
D: transplanting
Explanation:
trust me i just did it
enjoy :)
A firm requires an investment of $18,000 and will return $25,000 after one year. If the firm borrows $10,000 at 6%, what is the return on levered equity? Question 24 options:A) 112%B) 80%C) 96%D) 64%
Answers
A firm requires an investment of $18,000 and will return $25,000 after one year. If the firm borrows $10,000 at 6%, the return on levered equity is 80%. Thus, option B is correct.
Investment refers to expenditure incurred on creation of new capital asset. For example: purchase of land, plant, building, equipment, stock, mutual funds etc. It helps to generate wealth in future.
Cost of Investment = $18,000
Total return = $25,000
Firms borrowing = $ 10,000
Rate of borrowing = 6%
Portion of Investment financed by equity = 18,000 - 10,000
= $ 8,000
Return on shareholders fund = 25,000 - 10,000×(1 + 6%)
= $ 14,400
Return on levered equity = 14,400/8000 - 1
= 80 %
Therefore, return on levered equity is 80%.
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inflation does not affect both local and international business true or false
Answers
Answer:
true
Explanation:
inflation effects every aspect of the economy
The assertion is incorrect. International and domestic companies are both impacted by inflation. Every sector of the economy is impacted. As a result, choice (B) is accurate.
What is inflation?
In economics, inflation refers to a broad increase in the cost of products and services across the board. The purchasing power of money decreases when the general price level rises, which is why inflation is often known as a rise in prices.
Deflation is the antithesis of inflation and refers to a persistent drop in the general level of prices for goods and services. The inflation rate, which is the annualized percentage change in a general price index, is a commonly used indicator of inflation.
The majority of economists concur that chronic excessive expansion in the money supply is the primary driver of high inflation as well as hyperinflation, both of which have extremely disruptive consequences on the actual economy.
Hence, option (B) is the right answer to this question.
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In which quadrant or quadrants of the strategic grid, throughout the timeline of the case, would
you place Bharti Airtel’s Information Technology? Motivate your answer
Answers
The factory, strategic, support, and turnaround quadrants make up the strategic impact grid. The IT Strategic Grid is a structure comprised of four quadrants, each of which refers to one of four possible functions for information systems and IT inside an organisation.
One of the four divisions on a Cartesian plane is a graph quadrant. There is a certain set of negative and positive values for x and y in each of the four sections. An ordered pair is plotted on graph quadrants. Ordered pairs have values for x and y. In an ordered pair, X is the first value and y is the second. The strategic grid enables analysis of the placement of the IT department within the organisational structure and of IT management.
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If the SEC does not agree with a standard issued by the private sector, it can: __________
Answers
A standard may be changed by the SEC if it is not in agreement with one that the private sector has issued.
The portion of the economy that is run by people and businesses for profit and is not under state control is known as the private sector. As a result, it includes all for-profit companies that are not owned or run by the government. Government-run businesses and companies are considered to be in the public sector, whereas charities and other nonprofits are considered to be in the voluntary sector.
A country's private sector is the portion of the economy that is owned, controlled, and run by private persons or businesses. In comparison to the public sector, the private sector employs more people and seeks to make money. A public sector entity can be privatized or a new business might be established to operate in the private sector. Large private sector corporations might be privately held or traded publicly. Private sector companies compete for consumers' dollars by lowering prices for goods and services; in theory, consumers won't pay more for an item if they can get it elsewhere for less money.
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We can use a sample to represent the population for analysis and
yield fairly good estimation results. Please comment on this
statement.
Answers
Sampling is a critical tool in statistics, offering an efficient way to gather information about a large population using a representative subset. It facilitates meaningful, insightful analysis, and accurate predictions, assuming the sample is well-selected and unbiased.
Sampling is indeed an effective technique for population analysis. However, the quality of estimation largely depends on the accuracy and representativeness of the sample. A well-conducted random sample can reflect the diversity and characteristics of the whole population. On the contrary, a biased or poorly conducted sample can lead to misleading conclusions. Thus, the selection and size of the sample, along with the use of appropriate statistical methods, are crucial for obtaining accurate estimates.
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What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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kanha is a student at the university of tennessee who recently got his first f. now he has to make a decision about how to get his grades back up. having recently taken a class on decision making, kanha decides to follow the six-step process for deciding what to do. what problem is kanha most likely to face during the diagnosis and analysis of causes step in the decision-making process? jumping to solutions before understanding the problem not having the time to take all of the steps outlined in his plan neglecting to gather information on whether or not the plan was successful satisficing, or choosing the first solution that works, not the best solution
Answers
The problem that kanha is most likely to face in the decision-making process is: A. jumping to solutions before understanding the problem.
What is a Decision-making Process?A decision-making process is a systematic and logical approach to identifying and choosing the best course of action among several options.
It's probable that Kanha will encounter the issue of prematurely jumping to solutions instead of comprehending the problem while performing the diagnosis and cause analysis stage of the decision-making process. This is a typical challenge that individuals face when attempting to make a decision or resolve a problem.
Instead of taking the time to gather information and analyze the causes of the problem, they jump to solutions based on assumptions or incomplete information. This can lead to ineffective or inefficient solutions that do not address the underlying causes of the problem.
To avoid this problem, Kanha should take the time to gather information, analyze the causes of his poor grades, and consider multiple solutions before making a decision about how to improve his grades.
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What is the meaning of the term quality at the source or source inspection? Explain this term and provide an example of it. Of the several points where inspections may be necessary, which apply especially well to manufacturing?
Answers
The term "quality at the source" or "source inspection" refers to the practice of inspecting and ensuring the quality of a product or process at its source, rather than relying solely on post-production inspections. This means that quality control measures are implemented and monitored throughout the production process to prevent defects or errors from occurring in the first place.
Source inspection involves inspecting raw materials, components, or work in progress at various points in the manufacturing process to identify any deviations from the desired quality standards. By detecting and addressing issues early on, it helps to prevent the production of defective products and reduces the need for rework or repairs.
An example of quality at the source is in a manufacturing setting where a company produces electronic devices. Instead of waiting until the final product is assembled to inspect for defects, source inspection involves inspecting the individual components and subassemblies as they are being manufactured. This includes checking the quality of each electronic component, verifying their specifications, and ensuring proper assembly techniques are followed.
Several points where inspections may be necessary in manufacturing include:
1. Incoming material inspection: Inspecting raw materials and components upon arrival to ensure they meet the required quality standards.
2. In-process inspection: Inspecting work in progress during the manufacturing process to identify and correct any issues before they progress further.
3. Final assembly inspection: Conducting a thorough inspection of the finished product before it is packaged and shipped to customers.
4. Process capability analysis: Monitoring and analyzing the manufacturing processes to ensure they are capable of consistently producing products within the desired quality specifications.
By implementing quality at the source and conducting inspections at these key points, manufacturers can identify and address quality issues early on, reduce waste, and deliver products that meet or exceed customer expectations.
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You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answers
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".
Privott, Inc., manufactures and sells two products: Product Z9 and Product N0. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected Activity
Activity Cost Pools Activity Measures Overhead Cost Product Z9 Product N0 Total
Labor-related DLHs $ 337,018 7,700 4,300 12,000
Product testing tests 52,247 1,050 1,150 2,200
Order size MHs 477,608 5,300 5,600 10,900
$ 866,873
The activity rate for the Labor-Related activity cost pool under activity-based costing is closest to:
A. $45.43 per DLH
B. $394.03 per DLH
C. $49.76 per DLH
D. $28.08 per DLH
Answers
Answer:
Option D is correct
Activity rate for the Labor-Related activity cost pool= $28.08 per DLH
Explanation:
Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers.
Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.
Activity rate per driver is calculated as:
Activity overhead for the period / Total cost drivers for the period
Activity rate for the Labor-Related activity cost pool
= Labour related overheads/Total labour hours
= $ 337,018 /12,000 labour hours
= $28.08 per Direct labour hour
Activity rate for the Labor-Related activity cost pool= $28.08 per DLH