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2 years ago

Explain why the credit industry wants you to believe that you need a credit score

Business

2 answers:

kompoz [17]2 years ago

6 0

Answer:

The credit industry wants you to believe that you need a credit score because it profits them. If you think you

need to have a “good” credit score, you’ll keep using credit cards. This makes the credit industry gain more money.

lora16 [44]2 years ago

4 0

Answer:

Because the credit industry gains a profit from it's users. Credit is a tool, and if used wisely can be beneficial for many people who don't have enough cash to pay for things. Having "good" credit score means that it's easier for you to receive a loan.

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MaryJane’s Bakery manufactures and sells a variety of baked goods. The selling price per dozen of chocolate glazed dunuts is $8.

Roman55 [17]

Answer:

$4.20

Explanation:

4 0

2 years ago

Falmouth Corporation's debt to equity ratio is 0.6. Current liabilities are $120,000, long term liabilities are $360,000, and wo

Digiron [165]

Answer:

$1,280,000

Explanation:

We know that

Debt to equity ratio = Debt ÷ total equity

0.6 = $360,000 + $120,000 ÷ total equity

0.6 = $480,000 ÷ total equity

So, the total equity = $800,000

In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:

Total assets = Total liabilities + stockholder equity

= $480,000 + $800,000

= $1,280,000

8 0

2 years ago

Southern Rim Parts estimates its manufacturing overhead to be $396,000 and its direct labor costs to be $990,000 for year 1. The

S_A_V [24]

Answer:

Southern Rim Parts

Journal Entry:

Account Title Debit Credit

Work-in-process inventory $9,760

Finished goods inventory 24,400

Cost of goods sold 63,440

Manufacturing overhead $97,600

To record the prorated under-applied overhead cost.

Explanation:

a) Data and Calculations:

Estimated manufacturing overhead = $396,000

Estimated direct labor costs = $990,000

Actual manufacturing overhead = $434,000

Actual direct labor costs = $841,000

Predetermined overhead rate = estimated overhead/estimated direct labor costs = $396,000/$990,000 = $0.40 per DL

Applied overhead:

Work-in-process inventory $ 33,640

Finished goods inventory 84,100

Cost of goods sold 218,660

Total overhead applied = $336,400

Underapplied overhead = $97,600 ($434,000 - $336,400)

Prorating the underapplied overhead to:

Work-in-process inventory $33,640/$336,400 * $97,600 = $9,760

Finished goods inventory 84,100/$336,400 * $97,600 = $24,400

Cost of goods sold 218,660/$336,400 * $97,600 = $63,440

Total underapplied overhead = $97,600

5 0

2 years ago

A commuter bus company uses two measures of activity, routes and commuters, in the cost formulas in its budgets and performance

erastovalidia [21]

Answer:

B. $12,040 Favorable

Explanation:

We will need to calculate first the budgeted cost for bus operating costs in November, which is given by;

C = $56,880 + $2,884* F + $14* N

Where;

F = expected number of routes in the month

N = expected number of commuters in the month

From the passage, the company expected its activity in November to be 89 routes and 256 commuters; we were also informed that the budget for the bus operating costs have been prepared before the actual costs are known.

Therefore, the budgeted cost for bus operating costs in November would be ;

= $56,880 + $2,884 × 89 + $14 × 256

= $56,880 + $256,676 + $3,584

= $317,140

The spending variance for bus operating costs in November would be;

= The actual cost for bus operating costs in November - The Budgeted cost for bus operating costs in November

= $305,100 - $317,140

= $12,040 F

8 0

2 years ago

Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities.

BlackZzzverrR [31]

Answer: The journal entry for Nelson company are as follows uses a perpetual inventory system:

Info General Journal Debit Credit

a Store Supplies expense $1,750

To Store Supplies $1,750

b Insurance Expense $1,400

To Prepaid Insurance $1,400

c Depreciation expense $1,525

To Accumulated Depreciation - Store equipment $1,525

d Cost of goods sold $10,900

To Merchandize Inventory $10,900

7 0

2 years ago

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