<span>The answer is 1.43 % per day.
Calculations:
Formula for simple interest: I=PRT, where I=interest; P= borrowed amount; R=rate of interest in percentage; T=time for repayment
hence; P=$300, I=$60, T=14 days, then R=?
R={(I/PT) *100)}% per day={(60/300*14)*100}=1.43 % per day
interest rate (R) that Fred was charged for the aforementioned loan was 1.43 % per day</span>
Answer: Winona has the lowest opportunity cost of completing the task.
Explanation:
Based on the information given in the question, the opportunity cost will be calculated as:
= Earnings per hour × Hours taken to complete the task
Therefore, for Winona, the opportunity cost will be:
= 1 × $200.
= $200.
For Hubert, the opportunity cost will be:
= 9 × $25
= $225
Therefore, based on the calculation above, Winona has the lowest opportunity cost of completing the task.
Answer:
Ending inventory= $19,580
Explanation:
<u>The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).</u>
We need to calculate the total unitary variable cost:
Total unitary variable cost= 13.4 + 4.4
Total unitary variable cost= $17.8
<u>Now, the cost of ending inventory:</u>
Ending inventory= 1,100*17.8
Ending inventory= $19,580
Answer and Explanation:
The appropriate journal entry to record the income tax provision is shown below;
Income tax expense $4,031,000
To Deferred tax asset $31,000 ($76,000 - ($180,000 × $0.25)
To Income tax payable ($16,000,000 × 0.25) $4,000,000
(Being income tax expense is recorded)
Here the income tax expense is debited as it increased the expense, credited the deferred tax asset as it decreased the asset and credited the income tax payable as it increased the liabilities
