Answer with its Explanation:
Step 1:
First of all record a loan of $3 million loan:
Dr Bank $3,000,000
Cr Loan $3,000,000
Step 2:
Finance charge will be 3% on this loan amount:
Dr Finance Charge $3million *3% = $90,000
Cr Bank $90,000
Step 3:
The interest on the note is 7% which is $70,000. So the journal entry would be:
Dr Interest Expense $70,000
Cr Interest payable $70,0000
Answer:
$11.2 per unit
Explanation:
The computation of the variable cost per unit is shown below:
= Variable direct materials cost per unit + Variable direct labor cost per unit + Variable factory overhead cost per unit + Variable selling and administrative cost per unit
= $4.34 per unit + $5.18 per unit + $0.98 per unit + $0.70 per unit
= $11.2 per unit
We simply added the entire variable cost per unit so that the accuracy per unit could be reached
<span>The account profile of a card holder includes the demographic data, default accounting code, authorization limits, and other account details.
The default accounting code is assigned all the associated transactions that has been made by the assigned cardholder or from the assigned managing account, unless there applies any other specific rule.
When the default accounting code is clicked upon, it displays the Default Accounting Code screen, along with the segment names and the segment values.
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Answer:
The target inventory position is T= 713.6 gallons.
Explanation:
Given:
Average demand =per day = D = 152 Gallons
Standard deviation of demand = σ = 33 Gallons per day
Lead time for delivery = L = 4 days
Z value for 94.5% service level = 1.6
The target inventory position = (Average demand x Lead time) + Safety stock
= (D × L) + (Z× σ × 
)
= (152 × 4) + (1.6 × 33 × 
)
= (152 × 4) + (1.6 × 33 × 2)
= 608 + 105.6
= 713.6
Answer:
$117,417
Explanation:
Calculation to Determine the amount to be capitalized in the asset account
Costs that are to be capitalized:
List price $118,660
Less: Discount ($5,043)
($118,660*4.25%)
Freight cost $2,640
Specialist fee $1,160
Total costs $117,417
Therefore the amount to be capitalized in the asset account will be $117,417
