Hewitt Packing Company has an issue of $1,000 par value bonds with a 14 percent coupon interest rate outstanding. The issue pays interest semiannually and has 10 years remaining to its maturity date
Bonds of similar risk are currently selling to yield a 12 percent rate of return. What is the value of these Hewitt Packing Company bonds?
Using financial calculator: PMT=$70, N=20, FV=1000, I=6, CPT PV = $1,114.70
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A partial listing of costs incurred at Archut Corporation during September appears below: Direct materials$113,000Utilities, factory$5,000Administrative salaries$81,000Indirect labor$25,000Sales commissions$48,000Depreciation of production equipment$20,000Depreciation of administrative equipment$30,000Direct labor$129,000Advertising 135,000 The total of the period costs listed above for September is:
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Joint costs are allocated to which of the following products? By-products Scrap
a. yes yes b. yes no c. no no d. no yes