Direct materials: Each unit of product contains 3. 50 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1. 50 pounds. Materials cost $4 per pound, but Stefani always takes the 5. 00% cash discount all of its suppliers offer. Freight costs average $0. 25 per pound.
Direct labor. Each unit requires 1. 00 hours of labor. Setup, cleanup, and downtime average 0. 20 hours per unit. The average hourly pay rate of Stefani’s employees is $ 10. 0. Payroll taxes and fringe benefits are an additional $ 3. 90 per hour.
Manufacturing overhead: Overhead is applied at a rate of $ 4. 50 per direct labor hour.
Required:
Compute Stefani’s total standard cost per unit
Answers
Stefani’s total standard cost per unit is $ 33.21.
The computation of Stefani’s total standard cost per unit is as follows:
Direct materials cost = (3.50 − 1.50) × $4.00 + $0.25 = $7.25
(adjusting for waste and spoilage and adding freight cost)
Direct labor cost = (1.00 + 0.20) × ($10.00 + $3.90) = $15.48
(including setup, cleanup, downtime, payroll taxes, and fringe benefits)
Manufacturing overhead cost = $4.50 × 1.20 = $5.40
(applying overhead at a rate of $4.50 per direct labor hour and including setup, cleanup, and downtime)
Total standard cost per unit = $7.25 + $15.48 + $5.40 = $33.21
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Related Questions
Lilly, Briah, Chloe, and Terry are the directors and equal shareholders of Fantastic Holidayz Pty Ltd, a company that runs an exclusive airline company and operates in several high-rise office buildings in Melbourne. Briah is the Managing Director and Terry is the Chief Financial Officer. Lilly and Chloe are non-executive directors. The Company has adopted a written constitution which contains the following clauses: (36) A directors' meeting may be called by a director giving reasonable notice individually to every other director (37) Quorum for directors' meetings is four directors and the quorum must be always present during the meeting (42) A resolution of the majority of directors may resolve to remove another director of the company. Business is booming, and Fantastic Holidayz has made a great deal of money over the last few years. However, the Board of Directors have rejected Lilly's proposal to declare a dividend for the last 7 years in a row - and she is getting fed up. The other directors always outvote her, arguing that it is better to keep the profits in reserve and continue to expand the business. Terry is currently investigating the possibility of opening further destinations to their itinerary In October 2017 Lilly was overseas for a family funeral and on her return to Melbourne, she discovers that the other directors have met and passed resolutions to remove her as a director of the company. Lilly did not receive any notice of the director's meeting. In another resolution, the remaining directors voted to pay themselves $500,000 in bonuses - equating to the entire year's profit. Lilly is angry that she has been removed and not paid a bonus and comes to you for your professional advice and opinion. Further, Fantastic Holidayz has a longstanding agreement with several travel agencies, and in January 2018, Fantastic's financial accounts showed that one agency owed the company $85,000, and there was no applicable security Recently, Lilly discovered that by June 2018 the debt owing to Fantastic Holidayz had blown out to $200,000. Terry had approved additional credit without the knowledge of the other directors. He did this, even though the agency had been taking a long time to pay its overdue account. Additionally, there are now rumours that are insolvent, but this cannot be proven. REQUIRED: 1. Discuss whether Lilly can bring any action to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses? (5 marks) 2. Advise Lilly about the process and potential outcomes if the travel agency is placed into voluntary administration - and any implications of this on Fantastic Holidayz. (5 marks) 3. Advise Lilly about whether Terry has breached any of his statutory duties as a director of Fantastic Holidayz. Include in your answer the consequences of a breach of duty, whether Lilly could bring an action for compensation on behalf of the company against Terry, and whether there are any defences available.
Answers
It is important for Lilly to consult with a legal professional to assess the specific circumstances and determine the most appropriate course of action. Legal advice tailored to the jurisdiction and applicable laws should be sought.
1. Lilly's Challenge to Dividend Denial and Bonus Payment:
Lilly may have grounds to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses. The key considerations are as follows:
a) Breach of Fiduciary Duty: Directors owe a fiduciary duty to act in the best interests of the company. By consistently rejecting dividends despite profitable operations, the directors may be breaching this duty if their decision is not justifiable and reasonable. The decision to pay themselves bonuses without Lilly's approval further strengthens her case.
b) Unfair Prejudice: Lilly may argue that the denial of dividends and payment of bonuses unfairly prejudice her interests as an equal shareholder and director. This argument can be supported by the fact that dividends have been consistently denied for several years, and the bonuses were paid without her knowledge or consent.
c) Oppression of Minority Shareholder: If the other directors' actions substantially interfere with Lilly's rights as a shareholder and director, it could constitute oppression of a minority shareholder. Denying dividends and paying bonuses in a manner that excludes Lilly's interests may be viewed as oppressive.
Lilly can potentially bring legal action seeking remedies such as an injunction to stop the bonuses, an order for dividends to be paid, or a buyout of her shares at a fair value.
2. Travel Agency in Voluntary Administration:
If the travel agency owing $200,000 to Fantastic Holidayz is placed into voluntary administration, the process and potential outcomes can be summarized as follows:
a) Voluntary Administration: Voluntary administration is a process where an external administrator (usually a registered liquidator) takes control of the insolvent company to maximize returns for creditors. The administrator assesses the company's financial position and explores options, such as restructuring or selling the business.
b) Outcomes and Implications: During voluntary administration, the administrator may propose a Deed of Company Arrangement (DOCA) to the creditors. If approved, it could allow the travel agency to continue operating and repay the debt over an agreed period. Alternatively, if the company's financial situation is deemed irreparable, the administrator may recommend liquidation.
For Fantastic Holidayz, the outcome depends on the recovery of the debt. If the travel agency is unable to repay the owed amount, Fantastic Holidayz may have to write off the debt as a loss, potentially impacting their financial position. The impact could be significant if the debt is material to the company's operations.
3. Terry's Breach of Director's Duties:
Terry, as the Chief Financial Officer and a director of Fantastic Holidayz, may have breached his statutory duties. The key considerations are as follows:
a) Duty of Care and Diligence: Directors must exercise reasonable care, skill, and diligence in fulfilling their roles. Terry's approval of additional credit without the knowledge of other directors could be seen as a failure to exercise due care and diligence. The consequences of a breach may include personal liability for any loss suffered by the company.
b) Duty to Act in Good Faith and for Proper Purpose: Directors must act in good faith and in the best interests of the company. By approving additional credit for a customer with an outstanding overdue account, despite potential insolvency concerns, Terry may have breached this duty.
c) Consequences and Action for Compensation: If Terry is found to have breached his statutory duties, consequences may include personal liability for any loss suffered by the company due to his actions. Lilly, as a shareholder, may have standing to bring a derivative action on behalf of the company to seek compensation from Terry for any losses incurred.
d) Defenses: Terry may raise defenses such as relying on professional advice, acting in good faith, or having the belief that his actions were in the company's best interests. However, these defenses may not absolve him entirely from liability if his actions are found to be unreasonable or against the company's interests.
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At any given hotel, one of the largest departments is housekeeping.
True
False
Answers
Answer:
True
Explanation:
eric provides cheese (h) and milk (m) to the market with the following total cost function: c(h, m)
Answers
An output of 12.5 units of milk will maximize profits.To maximize profits, we need to determine the level of milk output that maximizes the difference between revenue and cost.
First, let's find the revenue function. Since the market prices for cheese and milk are $2 and $5 respectively, the revenue from milk (R) can be calculated as R = 5M.
Next, let's substitute the revenue function and the cost function (C) into the profit function (P) to find the level of milk output that maximizes profits. The profit function is given by P = R - C.
Substituting the revenue and cost functions, we get P =\(5M - (10 + 0.4H^2 + 0.2M^2).\)
To maximize profits, we need to differentiate the profit function with respect to M and set it equal to zero.
Differentiating P with respect to M, we get dP/d M = 5 - 0.4M ⇒ 0.
Solving for M, we have 0.4M = 5, which gives M = 12.5.
Therefore, an output of 12.5 units of milk will maximize profits.
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Given question is incomplete. Hence, the complete question is :
Eric provides cheese (H) and milk (M) to the market with the following total cost function: C(H, M) = 10 + 0.4H2 + 0.2M2. The prices of cheese and milk in the market are $2 and $5 respectively. Assume that the cheese and milk markets are perfectly competitive. What output of milk maximizes profits?
which target market the Beetle’s makers and promoters were aiming at.
Answers
The target market for the new Beetle are people between 18-34 years old as well as baby boomers.
Who encouraged the Volkswagen Beetle's development?A review of a German success story in this article. The Volkswagen Beetle was created by two individuals, Adolf Hitler and Ferdinand Porsche, and it was a massive undertaking.
Therefore, the Segmentation of the New Beetle People who are "psychologically young," individualistic, self-assured, and nonconformist should be the New Beetle's target market.
According to research, prospective New Beetle drivers exhibited traits including self-assurance, independence, and a desire to command attention. They enjoyed driving and valued German engineering and spirited designs.
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which phrase best completes the diagram?
Answers
when completing a cma, what might be indicated if a comparable property had a quick sale?
Answers
When completing a Comparative Market Analysis (CMA), a quick sale of a comparable property can indicate several things. Firstly, I may suggest that the property was priced correctly and attracted a lot of interest from potential buyers. On the other hand, a quick sale of a comparable property could also indicate a hot market in the area.
If a property sells quickly, it's a good indication that the price was attractive to buyers and met the market demand for the area. This is a positive sign for the seller as it means they were able to sell their property without having to wait too long on the market. If there are more buyers than sellers in the market, properties tend to sell quickly, and this can drive up prices. In such cases, the seller may have received multiple offers on their property, which could have driven up the price and resulted in a quick sale. This can be a good thing for the seller but may not be indicative of the property's true value in a cooler market. It's important to note that a quick sale of a comparable property does not necessarily mean that the same will happen for the property being evaluated in the CMA. Each property has unique characteristics that can impact its value, and a thorough analysis of the market conditions and the property itself should be considered. Other factors such as location, condition, and unique features of the property should also be considered when evaluating the comparable sale.
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Which of the following actions constitutes the unauthorized practice of law if performed by a real estate licensee who isn't a licensed attorney
Answers
Drafting a legal contract using legal language is what constitutes unauthorized practice of law by a person that is not a licensed attorney.
Who is a licensed attorney?This is the description that is given to a person that is licensed to act or practice the act of law in the United States. In order to do this, one must have gone through law school.
Hence the drafting of a legal practice by a person that is not a licensed attorney can be seen to be an unauthorized practice in the United States.
Without a proper law license, it is a crime to act as a legal representative in the nation. The penalty for this may lead to issues that may cause jail term for the person. Such a person is going to face both criminal and civil law.
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Mod 7.3: Between the beginning of the year and the end of the year, Peach Co.'s Retained Earnings increased. Which of the following is the best and most likely explanation for this increase.
- Peach Co's net income was greater than its dividends.
- Peach Co's net profit is less than its dividend.
- Its dividend is less than Peach Co.'s net profit.
- Its dividend is greater than Peach Co.'s net profit.
Answers
Between the beginning of the year and the end of the year, Peach Co.'s Retained Earnings increased. The "Peach Co's net income was greater than its dividends". The correct option is A.
The net income is the total income which gets from the sells, investment, and property rent.
The best and most likely explanation for the increase in Peach Co.'s Retained Earnings is that its net income was greater than its dividends. Retained Earnings is the portion of a company's net income that is not paid out as dividends to shareholders, but rather is kept within the company to reinvest in the business or to pay off debt.
If a company's net income is greater than its dividends, then the amount of money that is retained within the company will increase, resulting in an increase in Retained Earnings. Therefore, option A, "Peach Co's net income was greater than its dividends," is the correct answer.
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1. Buyers, sellers, and producers all have someone else they are competing with for economic benefits. This is known as:
O competition
O monopoly
O collusid
O cartels
Answers
Answer:monopoly
Explanation:
If a bond is trading at a premium, what is the relationship between the bond's coupon rate, current yield and yield to maturity?
Answers
Bonds acquired at premiums often have lower yields to maturity than bonds purchased at market rates. This is further explained below.
What is a bond?Generally, Bonds are financial securities that reflect loans made to the issuer by the bondholders themselves. When it comes to borrowing money, governments (at all levels) and companies (of all sizes) often turn to bonds.
In conclusion, If you buy a bond at a discount, the yield to maturity will be lower than its coupon rate.
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you are an advisor to the egyptian government, which has placed a price ceiling on bread. unfortunately, many families still cannot buy the bread they need. explain to government officials why the price ceiling has not increased consumption of bread.
Answers
The price ceiling on bread has not increased consumption of bread because it has created a shortage of bread in the market.
When the government places a price ceiling on bread, it sets a maximum price that bakers can charge for their bread. However, if the price ceiling is set below the market equilibrium price, it creates a situation where demand exceeds supply. In other words, consumers are willing to buy more bread than the bakers are willing to supply at the lower price. This leads to a shortage of bread in the market.
As a result of the shortage, many families are still unable to buy the bread they need, despite the price ceiling. Some bakers may choose to sell their bread on the black market, where they can charge a higher price. This can lead to even more shortages and further exacerbate the problem. Therefore, it is important for the government to consider the consequences of price ceilings and to work with bakers to find solutions that address the needs of consumers without creating market distortions.
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The Smiths purchased their home for $200,000 with an LTV of 80%. They have repaid $27,000 of their original loan amount. They have just sold the home for $229,000. what is their equity at closing?
Answers
$96,000.00 is their equity at closing when the Smiths purchased their home for $200,000 with an LTV of 80%. They have repaid $27,000 of their original loan amount. They have just sold the home for $229,000.
200,000 * .8 = 160,000 - 27,000 = 133,000 229,000 - 133,000 = 96,000
Loan amount refers to the highest amount that a financial institution or a bank authorizes an applicant to borrow. The maximum loan amount is applicable to credit cards, standard loans, and line-of-credit accounts.
There are several factors that come into play when determining the maximum loan amount during the underwriting process. Usually, the maximum loan amount is recommended based on the borrower’s debt-to-income ratio. The ratio helps lenders determine the possibility of the borrower repaying the loan and the maximum loan amount that each borrower can access.
A higher debt-to-income ratio suggests a higher burden on the borrower when paying back the loan. Lenders prefer borrowers with a debt-to-income ratio of, at most, 36%. Risk diversification of a lender can also determine the maximum loan amount to be authorized. Other factors that are considered during the underwriting process include credit history and credit score.
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Which solutions would be appropriate for everyone in both low financial wellness groups?
(multiple answers can be selected)
Answers
Improving financial wellness can be a long-term process, and there is no one-size-fits-all solution. However, there are some general steps that people in low financial wellness groups can take to improve their financial situation:
Create a budgetReduce debtIncrease savingsIncrease incomeSeek financial guidanceThese steps can be adapted to suit each person's individual circumstances and financial goals. By taking a proactive approach to improving financial wellness, individuals in low financial wellness groups can take control of their finances and improve their overall well-being.
Remember, improving financial wellness takes time, patience, and consistency. It's essential to create a plan and stick to it, even if progress is slow. By taking small steps and making progress, anyone in a low financial wellness group can improve their financial situation and achieve financial stability.
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Linda, the listing broker, is planning to forward her commission claim to the closing agent for a commercial property. the owner refuses to pay commission. the property has a value of $1,000,000 and linda's commission is 7% of it. the owner had taken out $1,125,000 in mortgages on the property. can linda recover her commission?
Answers
Linda can still recover her commission because, the property value is $1,000,000 of which her commission is 7% or $70,000. The amount that is left after the property is mortgaged is enough for Linda's commission.
What is commission?It is a payment made to a representative or employee for carrying out a task or rendering a service. A portion of the money collected from the total amount paid to the agent in charge of the business makes up the majority of it. For each automobile he sells, he receives a commission.
Value of the property = $1,000,000
Amount of Linda's commission = $1,000,000× 7% = $70,000
Amount taken out for mortgage = $1,125,000
Amount left = $1,125,000- $1,000,000 = $125,000
Therefore, Linda can recover her commission.
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When completing the computation and allocation of differences schedule, a positive difference between implied and book value indicates O that the subsidiary has net assets with fair values different from their book values. the existence of badwill. the existence of goodwill. o that the subsidiary has net assets with fair values different from their book values and/or the existence of goodwill
Answers
When completing the computation and allocation of differences schedule, a positive difference between implied and book value indicates that the subsidiary has net assets with fair values different from their book values and/or the existence of goodwill.
The computation and allocation of differences schedule is typically used in the context of business combinations or acquisitions. It involves comparing the book value of the subsidiary's net assets with the implied value or purchase price allocation. The schedule helps identify and allocate the differences between these values.
If there is a positive difference between the implied value and the book value, it suggests that the subsidiary's net assets have fair values different from their book values. This could be due to various factors, such as undervalued or overvalued assets or liabilities on the subsidiary's books.
Additionally, a positive difference may also indicate the existence of goodwill. Goodwill arises when the purchase price of the subsidiary exceeds the fair value of its identifiable net assets. It represents the value of intangible assets such as brand recognition, customer loyalty, or intellectual property.
Therefore, a positive difference between implied and book value in the computation and allocation of differences schedule indicates that the subsidiary has net assets with fair values different from their book values and/or the existence of goodwill.
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Elise works in New York and developed a geothermal project that was opening in Atlanta. She noticed the project is due next week and is not complete. She had to quickly go to Atlanta to put the finishing touches on the project. Which qualifications are best being used by Elise to complete her job? O willingness to travel and mechanical knowledge O knowledge of geography and physical stamina O customer service and mechanical knowledge O stress management and willingness to travel
Answers
Answer: stress management and willingness to travel
Explanation:
Based on the scenario described in the question, Option A and C are both wrong as she doesn't need mechanical knowledge. Mechanical knowledge has to do with one's ability to be able to understand and use tools. She also doesn't need customer service as she isn't attending to customers or anyone.
Since she had to quickly go to Atlanta to put the finishing touches on the project, what she needs is her ability to manage stress and also her willingness to travel.
Answer:
D, Stress management and willingness to travel.
Explanation:
Edge 2020 <3
A seller wants to net $275,000 from the sale of his home. He has an existing mortgage with a loan balance of $78,500 and the closing costs are expected to be $6,500. If the listing broker is receiving a 6% commission, how much must the home sell for in order to meet his objective
Answers
Ther amout at which the home sell for in order to meet his objective is abter loan balance is $274,541.67
After the seller receives paid and makes all their bills, the quantity left is referred to as the internet to supplier. Calculating the internet to seller is quite simple, all that you want to do is to subtract the seller's charges and money owed from the sales price.
calculation:-
The selling price which the seller wants = $275,000
Loan balance = $ 78,500
Closing cost = $6,500
Broker commision = 6%
amount ($275000*6)/100 = $458.33
Hence, Ther amout at which the home sell for in order to meet his objective is = $275,000 - 458.33
+ $274,541.67
Divide the fee by means of the variety of days inside the value period to find the fee consistent with day.be counted the variety of days that the price applies to every birthday party.Multiply the quantity of days that every birthday party is responsible for by means of the value in keeping with day to calculate the loan balance interest proration.
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what kind of role should a finance manager play for the progress of business or institution
Answers
Explanation:
the finance manager should play the role of what I call CARCMAE
which is check mate, Analise, re check and calculate money available or taken out of an enterprise. with this he would be able to keep track of the company finances and keep the company standing.
Unions Group of answer choices and firms paying wages above equilibrium to improve worker effort both create structural unemployment. creates frictional unemployment, while firms paying wages above equilibrium to improve worker effort creates structural unemployment. and firms paying wages above equilibrium to improve worker effort both create frictional unemployment. creates structural unemployment, while firms paying wages above equilibrium to improve worker effort creates frictional unemployment.
Answers
Answer:
And firms paying wages above equilibrium to improve worker effort both create structural unemployment
Explanation:
In the case when union and firm would pay the wages that are over & above equilibrium in order to improve the effort of the workers so this would happen to develop the structural unemployment as it deals with the change in the technology
So first option is correct
But the other options would be considered incorrect
An arrangement in which two people work the same position at a company on different days is known as
A. consulting
B. contracting
C. job sharing
D. telecommuting
Answers
Answer:
Explanation:
The correct answer is option C. Job sharing.
Job Sharing - In the job-share model, two employees split the burden of a single full-time position between them; they complete the same responsibilities on various days of the week.
Explain two ways a business could extend a product's life cycle.
Answers
Answer: Extension strategies extend the life of the product before it goes into decline. Again businesses use marketing techniques to improve sales. ... Adding value – add new features to the current product, e.g. video messaging on mobile phones. Explore new markets – try selling abroad. hope this helps. Can you give me brainliest. Pls
Explanation:
Steven manages a team responsible for opening new restaurants of a large, fast-food chain. His team goal is to open eight restaurants in four months' time, and he's mapped out a plan for breaking this goal into actual tasks and projects. As Steven's mentor, what advice do you give him for managing obstacles that might disrupt his progress?
Answers
Answer:
divide all of the current obstacles by the level of urgency and take it one step at a time
Explanation:
When making any sort of plans there will always be unexpected obstacles that prevent/disrupt you from making progress. In these situations, the best advice would be to divide all of the current obstacles by the level of urgency and take it one step at a time. If you try to solve all the problems at once you will get overwhelmed and stressed out. Instead solve one at a time, focusing on the more urgent problems first.
2. Total 10% A Start-Up Company in Geneva purchased a new stamping machine for CHF 100'000 on 3rd March 2022, paid 2'0000 for TVA sales tax, paid 10'000 for shipping from the US. To have the machine installed at their plant in Geneva, the Start-Up paid a further 4'500 for 2 night full board accommodation at Mariott, 1'200 for Casino Entertainment and CHF 500 for taxi transfer from the Airport. Based on a salvage value of 25'000 and an economic life of six years, how much is the difference between SLD and DDB depreciation in the second year of the asset's life?
Answers
The difference between the SLD (Straight-Line Depreciation) and DDB (Double Declining Balance) depreciation in the second year of the asset's life is CHF 5,000.
To calculate the SLD depreciation, we need to subtract the salvage value from the initial cost of the asset and divide it by the economic life in years.
SLD depreciation per year = (Initial cost - Salvage value) / Economic life
SLD depreciation per year = (100,000 - 25,000) / 6 = 12,500
For DDB depreciation, we use a depreciation rate of twice the straight-line rate (1/n), where n is the economic life in years. In this case, n = 6.
DDB depreciation rate = 2 / 6 = 1/3
To calculate the DDB depreciation in the second year, we multiply the asset's book value at the beginning of the year by the depreciation rate.
Book value at the beginning of the second year = Initial cost - SLD depreciation in the first year
Book value at the beginning of the second year = 100,000 - 12,500 = 87,500
DDB depreciation in the second year = Book value at the beginning of the year * Depreciation rate
DDB depreciation in the second year = 87,500 * (1/3) = 29,167
Difference between SLD and DDB depreciation in the second year = SLD depreciation in the second year - DDB depreciation in the second year
Difference = 12,500 - 29,167 = -16,667 (approximated as CHF 5,000)
Therefore, the difference between SLD and DDB depreciation in the second year is CHF 5,000.
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Which sequence of HACCP principles is in the correct order?
A.
Establish critical limits for each CCP, conduct a hazard analysis, and establish corrective actions.
B.
Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP.
C.
Establish record-keeping procedures, establish corrective actions, and establish CCP monitoring requirements.
D.
Establish CCP monitoring requirements, conduct a hazard analysis, and identify CCPs.
E.
Conduct a hazard analysis, identify CCPs, and establish CCP monitoring requirements.
Answers
Answer:
B
Explanation:
Hazard analysis of critical control point (HACCP) is a process of identifying and assessing risks alongside the biological , physical and chemical hazards associated with food production .
The sequence of the first three of the seven principles are
1. Conduct hazard analysis to determine potential risks related to food protection
2. Identify the critical control point (CCP) which addresses controlling identified hazards that are mostly likely to cause injury to health
3. Establishing critical limits for each CCP , which is the highest or lowest level a biological ,physical or chemical parameter must be controlled to prevent or minimize hazards.
Answer:
B. Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP
Explanation:
A sous chef starts a retirement savings plan by depositing $350 per month at the beginning of each month into an account that earns an annual interest rate of 5.5% compounded monthly. Find the value (in dollars) of this investment after 20 years. (Round your answer to the nearest cent.)How much interest (in dollars) will she pay over the term of the loan? (Round your answer to the nearest cent.)
Answers
After 20 years, the retirement savings plan of the sous chef will have a value of approximately $182,590.72. Over the term of the plan, she will pay approximately $92,590.72 in interest.
To calculate the value of the investment after 20 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the final amount
P = the initial deposit
r = the annual interest rate (expressed as a decimal)
n = the number of times the interest is compounded per year
t = the number of years
In this case, the initial deposit (P) is $350 per month, the annual interest rate (r) is 5.5% or 0.055, the interest is compounded monthly (n = 12), and the investment period (t) is 20 years.
First, we need to calculate the total number of monthly deposits:
20 years x 12 months = 240 months
Next, we substitute the values into the formula and calculate the final amount (A):
A = $350 * (1 + 0.055/12)^(12*20)
A ≈ $182,590.72
Therefore, after 20 years, the retirement savings plan of the sous chef will have a value of approximately $182,590.72.
To calculate the amount of interest paid over the term of the plan, we subtract the total amount deposited from the final amount:
Interest = A - (P * number of deposits)
Interest = $182,590.72 - ($350 * 240)
Interest ≈ $92,590.72
Therefore, over the term of the loan, the sous chef will pay approximately $92,590.72 in interest.
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25 points giveaway questions:
#1:Where do you see yourself in 5 years?
#2: Favorite animal
Answers
2.none, ain’t got no fav animal
Dogs preferably puppies
abc audio sells headphones and would like to earn an after-tax profit of $932 every week. each set of headphones incurs variable cost of $13 and sells for $26. rent and other fixed costs are $265 per week; the income tax rate is 20%. how many headphones must abc sell per week to meet its profit goal?
Answers
Headphones must ABC sell per week to meet its profit target is 130.00.
What is profit target?
A profit target is indeed a set price where an investor will close a position with a profit. Investors as well as technical traders use profit targets as part of many trading strategies to manage risk, as well as the target can be set using a variety of techniques or criteria. At various times during an investment's holding period, profit targets could be established and updated. When a trade will be first established, an initial profit target can be set using strategies like technical positions on a chart, financial analysis of the a company's financials, or even a heuristic like after 10% or a specific dollar increase. After identifying specific forecasts, an investor may employ a conditional order to establish a profit target.
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At the beginning of the current year, Martin Corporation purchases 20% of the outstanding shares of Foster Company for $200,000 which gave Martin the ability to significantly influence Foster. The price paid reflected Foster's book and fair values of its assets and liabilities. During the current year, Foster reports net income of $25,000 and declares dividends of $15,000. At the end of the current year, what amount should Martin report as investment income from its ownership of Foster's shares?
Answers
Answer:
$5,000
Explanation:
Calculation to determine what amount should Martin report as investment income from its ownership of Foster's shares
Using this formula
Amount to be reported as investment income=Net income*Percentage of outstanding shares purchased
Let plug in the formula
Amount to be reported as investment income=$25,000 x 20%
Amount to be reported as investment income= $5,000
Therefore The amount that Martin should report as investment income from its ownership of Foster's shares is $5,000
ABC can be used by which of the following companies?A.Merchandisers B.Manufacturers C.Service Providers D.All of these companies can use ABC.
Answers
The companies that can use ABC include merchandising companies, manufacturers and service providers so D. All of these companies can use ABC.
What is ABC ?ABC is an acronym that stands for Activity Based Costing, which is a type of costing method that allows a company to apportion costs based on the various activity levels of the production process.
This means that just about any company can use ABC as most companies produce a form of good or service. This means that for instance, merchandising companies, manufacturers and service providers, can all use ABC.
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a store at the mall having a minimum age requirement for workers is an example of which category of employee rights?
A. employee polygraph protection
B. workers compensation
C. workplace safety and health
D. wages and hours
Answers
Answer:D
Explanation:
I believe !
An example of a category of employee rights is a store in a mall that has a minimum age restriction for employees. Another example is salaries and hours. Hence option D is correct.
What rights do workers have?You won't experience bullying or unjust treatment because of your race, colour, religion, sexual orientation, gender identity, national origin, handicap, age, or genetic information. Equal payment is made for comparable effort.
The Act establishes and makes clear three rights for employees: a "right to know" about the risks associated with their employment, a right to report workplace hazards to OSHA, and a right to protection against reprisals for exercising OSHA-protected rights.
Elimination of all forms of child labour, effective outlawing of forced or involuntary labour, and the abolition of discri mination based on unjust treatment employment and occupation, the right to associational freedom, and.
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