Narrative 11-1Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
Refer to Narrative 11-1. Marcus invests $8,000, at 8% interest, compounded annually for 15 years. Calculate the compound interest for his investment.
A. $17,377.36
B. $17,565.40
C. $1,765.40
D. $17,556.40
Answer: A
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Modine Corporation has provided the following data for September.?Denominator level of activity1,600 machine-hours?Budgeted fixed manufacturing overhead costs$42,400??Fixed portion of the predetermined overhead rate$26.50 per machine-hour?Actual level of activity1,700 machine-hours?Standard machine-hours allowed for the actual output2,000 machine-hours?Actual fixed manufacturing overhead costs$41,740?Required:a. Compute the budget variance for September. Show your work!b. Compute the volume variance for September. Show your work!
What will be an ideal response?
What is the goal of an unsolicited sales proposal?
A) To identify a statement of work B) To provide a timeline for actions C) To solicit funding for a project D) To provide an executive summary E) To encourage further discussion
Which of the following is not an element of Internal Controls?
A) to protect assets from misuse B) ensure the accuracy of business information C) ensure that laws and regulations are followed D) to ensure that the company's policies are in place to maximize profits
In activity-based costing (ABC), wages paid to an assembly-line worker would most likely be classified as:
A) overhead. B) a product-level cost. C) direct labor. D) a facility-level cost.