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Question 1 (5 marks) Now that they have accumulated a deposit of $61,000, Rex and his partner Rhonda wish to use the deposit and take out a housing loan to purchase a home. The house costs $666,000. The loan is to be repaid in equal monthly instalments over a term of 25 years. Rhonda recalls that the interest rate quoted by the bank is an annual nominal rate of 6.5%pa. Rex has misplaced the paperwork showing the annual effective rate,...
This assignment is to be completed in groups of two and comprises 25% of the marks for this course. There are three questions. Assessment Criteria:Student work will generally be assessed in terms of the following criteria:1. Effectiveness of communication – i.e. readability, legibility, grammar, spelling, neatness, completeness and presentation will be a minimum threshold requirement for all written work submitted for asse...
Question: a)Calculate the flexed and actual budget.b)Calculate the following variances and provide explanations for them.sales variances; volume and priceDirect material variances; usage and priceDirect labour variances; efficiency and rateFixed overhead variance; spendingc)Suggest recommendations as to how the company might try to improve its cost control.(500 words)
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