Find the Proceeds to the Nearest Cent When the Following

question 48

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $11,000 Discount period: 90 days
Discount rate: 10.6%

• A)$9,934.00
• B)$9,834.00
• C)$10,712.49
• D)$10,708.50

---

Definitions:

Activity-Based Costing

A technique for determining the true cost of a product by assigning its share of overhead costs based on the specific activities it requires.

Overhead Cost

Indirect costs of running a business that can't be linked to specific products or services but are necessary for the business to operate.

Assembly Hours

The total hours spent on the assembly stage of the manufacturing process, often used in costing and performance measurement.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing more accurate insights into the true costs of production.