The following formula is used to compute the present value of a lump sum
Future value = Present value x PV factor for i = X%, n = X periods
Indicate whether the statement is true or false
FALSE .Present value = Future value x PV factor for i = X%, n =X
You might also like to view...
Which of the following conditions would cause the break-even point to decrease?
A) Total fixed costs increase B) Unit selling price decreases C) Unit variable cost decreases D) Unit variable cost increases
Even if a defendant's own negligent conduct created an emergency, he will not be liable for the consequences of the conduct if he acted with care in the resulting emergency situation
a. True b. False Indicate whether the statement is true or false
Pelcher Co. maintains a $400 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $110 for office supplies, $140 for merchandise inventory, and $70 for miscellaneous expenses. There is a cash overage of $4. Based on this information, the amount of cash in the fund before the replenishment is:
A. $76. B. $400. C. $320. D. $80. E. $84.
Lysiak Corporation uses an activity-based costing system to assign overhead costs to products. In the first stage, two overhead costs--equipment depreciation and supervisory expense-are allocated to three activity cost pools--Machining, Order Filling, and Other--based on resource consumption. Data to perform these allocations appear below: Overhead costs:?Equipment depreciation$47,000Supervisory expense$6,000Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools MachiningOrder FillingOtherEquipment depreciation0.600.100.30Supervisory expense0.600.200.20In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost
pool are not assigned to products. Activity data for the company's two products follow:Activity: MHs (Machining)Orders (Order Filling)Product C96,900200Product U03,100800Total10,0001,000How much overhead cost is allocated to the Machining activity cost pool under activity-based costing in the first stage of allocation? A. $28,200 B. $31,800 C. $3,600 D. $15,300