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Question - Your parents want to buy a condo in Vancouver. Banks use the affordability rule: no more than 32% of gross 50% monthly household income can go towards paying the mortgage, property taxes, heating costs and of the condo fees. Their gross income is $10,000 per month, property taxes are $3,000/year, heating costs average $50/month and condo fees $400/month.
What is the maximum monthly mortgage payment they could afford?
Under the Bank of Canada posted rate of j2 = 4.94%, how large of a mortgage would they qualify for if it is amortized over 25 years and paid monthly? Express your answer as a whole number.
Seneca Co. began year 2013 with 6,500 units of product in its January 1 inventory costing $ 35 each. It made successive purchases of its product in year 2013 as follows.
How do job costing, operations costing and process costing differ? Give two typical examples of products or organizations for each system.
Conversions costs are incurred uniformly throughout the process, what were the equivalent units of production for materials and for conversion during January?
A Company has fixed costs of $160,000. The sales mix for product X and Y is 60% and 40% respectively. Determine the break-even point in units of X and Y.
What would be the effect on operating income, if the company decides to outsource? Sanchez Semiconductors produces 200,000 high-tech computer chips per month
In order of preference, rank the four projects in terms of net present value, project profitability index and internal rate of return.
What factors should be considered when weighting an investment portfolio? The specific risks of the individual securities./ The investor's risk tolerance.
Which is the main objective of internal processes? To focus on improving the company's operations to eliminate waste and inefficiencies
In accordance with generally accepted accounting principles, but not to determine if there is compliance with laws and regulations.
Prepare the process accounts for Process 1 and Process 2. The company uses unit basis of apportionment for common process costs.
Accrued 750 interest on the Buncombe Co. Bonds. Dec 31 Accrued 1400 interest on the French Broad bonds. 2015 Feb 1. Received semiannual interest on the Buncombe Co. Bonds. March 1. Received semiannual interest on the French Broad bonds. Journalize th..
Make a schedule to allocate the lump-sum purchase price to separate assets that were purchased. Also present the general journal entry to record the purchase
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