(Annuity payments) Calvin Johnson has a $4,000 debt balance on his Visa card that charges 15.3 percent APR compounded monthly. In 2009, Calvin's minimum monthly payment is 2 percent of his debt balance, which is $80. How many months (round up) will it take Calvin Johnson to pay off his credit card if he pays the current minimum payment of $80 at the end of each month? In 2010, as the result of a federal mandate, the minimum monthly payment on credit cards rose to 3 percent. If Calvin made monthly payments of $120 at the end of each month, how long would it take to pay off his credit card? a. If Calvin made monthly payments of $80 at the end of each month, how long would it take to pay off his credit card? months (Round up to the nearest unit.) b. If Calvin made monthly payments of $120 at the end of each month, how long would it take to pay off his credit card? months (Round up to the nearest unit.)

1. Journalize the following transactions: 1. Madison Co. purchased $225,500 of raw materials on account. 2. Actual manufacturing overhead costs include: a. Utilities: $2,800 b. Depreciation on equipment: $12,650 c. Repairs on account: $3,200 d. Rent paid, $6,000 e. Insurance (prepaid policy): $3,350 3. Madison Co. issued $75,500 of material to Process A. 4. Assigned $18,000 is factory labor, of which $12,000 is indirect labor 5. Manufacturing Overhead costs are applied at 82% of material issued 6. Balance in WIP-A is transferred to Process --B 7. $51,000 of material is issued to Process - B 8. Assigned $22,000 of factory labor, of which $15,000 is indirect labor 9. Manufacturing overhead costs are applied to Process B at a rate of 62.5% of material issued (to process B) 10. Actual manufacturing overhead costs paid totaled $39,500; manufacturing overhead costs charged to accounts payable totaled $1,500 11. Balance of Process B is transferred to Finished Goods 12. The cost transferred to…

Chapter 4 Pg. 318 Facility, Product, Batch and Unit Levels. Would you please explain and give examples for the different levels found in Activity Based Accounting.  Also what would utitilies  for the facility fall under?  Which of the 4 categories