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If the standard to produce a given amount of product is 12,000 hours at a factory overhead rate of $5 ($3 fixed, $2 variable), actual variable factory overhead was $26,400, actual fixed factory overhead was $45,000, and 100% of productive capacity is 15,000 hours, the volume variance was $9,000 favorable.
Equal Payments
Periodic payments of the same amount over the tenure of a loan or mortgage, covering both principal and interest.
Present Value
The contemporary financial worth of a looming sum of money or sequence of cash flows, with a specific rate of return in mind.
Annuity's Payments
Regular fixed payments from an annuity contract, typically made to the holder for life or a specified period.
Mortgage Loan
A loan secured by the collateral of specified real estate property, which the borrower is obliged to pay back with a predetermined set of payments.
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