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RideAnS [48]
2 years ago
9

On January 1, 2016, Ott Company sold goods to Fox Company. Fox signed a noninterest-bearing note requiring payment of $60,000 an

nually for seven years. The first payment was made on January 1, 2016. The prevailing rate of interest for this type of note at date of issuance was 10%. Information on present value factors is as follows: Ott should record sales revenue in January 2016 of a. $214,200 b. $261,600 c. $292,600 d. $321,600Table:Business figures are shown
Business
1 answer:
inessss [21]2 years ago
3 0

Answer:

D. 321,600.

Explanation:

Present value is the current value of a future amount that is to be received or paid out.

Given:

Present value, P = $60000

Present value of ordinary annuity for the remaining 6 years = 4.36

The Present value, PV of the note is equal to the first payment + the Present value of ordinary annuity (all at 10%) of the remaining six payments

Sales revenue = $60000 + (60,000 × 4.36)

= $60000 + $261,600

= $321,600

Thus, sales revenue of $321,600.

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EB17.
nekit [7.7K]

Answer:

$600 unfavorable

Explanation:

The budgeted cost of producing 14,000 units at $5.50 per unit and with fixed costs of $19,400 is:

B = 14,000*5.50 + 19,400\\B= \$96,400

The variance is given by subtracting the budgeted cost by the actual cost ($97,000):

V= \$96,400 - \$97,000\\V= -\$600

Since the variance is negative, the variance is unfavorable

6 0
2 years ago
The sales for​ January, February, and March are​ $150,000, $180,000 and​ $220,000, respectively. For any particular month of​ sa
Gekata [30.6K]

Answer:

Total cash= $193,000

Explanation:

Giving the following information:

Estimated sales ($):

January= $150,000

February= $180,000

March= $220,000

40% in cash from that same month of​ sales

50% in cash from the previous​ month's sales

10% in cash from the sales from two months ago

C<u>ash collection March:</u>

From March= 220,000*0.4= 88,000

From February= 180,000*0.5= 90,000

From January= 150,000*0.1= 15,000

Total cash= $193,000

3 0
2 years ago
Michael is a sales representative who spends a great deal of time out on the road and infrequently communicates with the rest of
hoa [83]

Answer: An Isolate

Explanation:

An Isolate is a person who is separated from others and so does not communicate with others a lot. This person most likely prefers to be alone and can do without human company or communication for extended periods.

Micheal is usually out on the road which means he is often separated from the rest of his colleagues and on top of that he infrequently communicates with them which are signs that he is an isolate.

5 0
2 years ago
A farmer sells five pounds of pecans to a smith's fresh pecans for $10. smith's fresh pecans resells three pounds for $4.50 per
AURORKA [14]
$21.50 is added to GDP.
4 0
2 years ago
As a result of the organizing campaign at Champlain Products, the union obtained signed authorization cards from 41% of the empl
xz_007 [3.2K]

Answer:

Please see explanation below.

Explanation:

The next step is to conduct a secret ballot election which will be supervised by National Labor Relations Board (NLRB) as might be required by the employer-Champlain products inorder to obtain voluntary support from the employees that the union wants to represent. The reason being that the management might decided not to recognize the card checks practise on the basis that a union without a secret ballot election is not reliable hence employees that signed the card might have been intimidated or coerced by the union to do so.

Where the management refuses to recognize the card check that was signed by at least 41% of the employees it wants to represent, management would then request for secret ballot election where employees would be able to vote confidentially without coercion or undue influence from the union or co-workers.

5 0
2 years ago
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