Fixed overhead does not have separate price and quantity variances.
Answer the following statement true (T) or false (F)
True
The model used to analyze variable costs does not apply to fixed overhead, so the fixed overhead spending variance cannot be broken down into price and quantity variances.
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A company borrowed cash from the bank by signing a 5-year, 8% installment note. The present value for an annuity (series of payments) at 8% for 5 years is 3.9927. The present value of 1 (single sum) at 8% for 5 years is .6806. Each annual payment equals $75,000. The present value of the note is:
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