Exotic Engine Shop uses a job order cost system - id5453990, smarty5187

Question

Business: Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $513,800 Shop direct labor 375,000 Shop and repair equipment depreciation 31,600 Shop supervisor salaries 87,800 Shop property taxes 15,900 Shop supplies 12,200 Advertising expense 10,300 Administrative office salaries 44,200 Administrative office depreciation expense 5,700 Total costs and expenses $1,096,500 The average

smarty5187 · Accepted Answer

If Marcia borrowed $3,500 from a bank with 9.5% interest on October 10, then by October 10 the following year, she would pay 3,500+(3,500/9.5) back. To find this for each month, we need to do (3,500/9.5) / 12. This gets us about $30.7 for each month. February 10 is 4 months ahead of October 10, so we get our 30.7 and multiply that by 4. We get $122.8 from that, so that is the interest. We add that to 3,500 and we get $3,622.80. This is how much Marcia will have to pay off for her loan. I hope this...

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