This is not for a grade. Please show work. X Cut女CropNODOGA104A· OutlineALA CopyO ResizeO○ 合FillEditColor2.PasteSelectQ BrushesSizeColorRotate -colorsClipboardImageToolsShapesColors9. You and your spouse purchased a home 5 years ago for S110,000. The home was financed by paying20% down and signing a 30-year mortgage at 8.5% on the unpaid balance. The net market value ofthe house is now $132,000. How much equity do you have in the house?口

Equity in Home: Equity is the distinction between what one owes on their home loan and what their…

Answered: Shapes 9. You and your spouse purchased…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Saved Green Cabinets is a custom cabinet builder. They recently completed a set of kitchen cabinets (Job Number 1478), as summarized below. Job Number:1478 Datn Started: 4/07/20xB Date Completedi 4/22/20x8 Description:Cherry kitchen cabinets Applied Manufacturing Overhead Rate Direct Materials Direct Labor Amount Hours Amount Reg. No 385 Amount Ticket Hours $ 370 295 $345 634 216 128 15 391 130 27 395 135 133 401 275 Total $1,075 Total 50 $1,196 Cost Summary Direct Material Cost Direct Labor Cost $1,075 1,196 Applied Manufacturing Overhead Total Cost Green Cabinets applies overhead to jobs at a rate of $14 per direct labor hour. (a) How much overhead would be applied to Job Number 1478? Applied Manufactunng Overhead (b) What is the total cost of Job Number 1478?
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Shapes 9. You and your spouse purchased a home 5 years ago for $110,000. The home was financed by paying 20% down and signing a 30-year mortgage at 8.5% on the unpaid balance. The net market value of the house is now $132,000. How much equity do you have in the house?