Solve the Problem. -Mardi Received an Inheritance of $70,000. She Invested Part at Invested

question 56

Multiple Choice

Solve the problem.
-Mardi received an inheritance of $70,000. She invested part at 11% and deposited the remainder in tax-free bonds at 7%. Her total annual income from the investments was $6900. Find the amount invested at 11%.

• A)$50,000
• B)$63,100
• C)$25,000
• D)$49,000

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Definitions:

Direct Labor-Hours

Direct labor-hours are the total hours worked by employees directly involved in the manufacturing process.

Direct Materials Cost

The cost of raw materials used to produce a product, which are directly attributable to the product.

Direct Labor-Hours

The combined working hours of employees directly contributing to the manufacturing cycle.

Direct Materials Cost

The cost of raw materials directly used in the production of goods or services.