1-

Use these present value tables to answer the question that follow.

Below is a table for the present value of $1 at Compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	0.890	0.826	0.797
3	0.840	0.751	0.712
4	0.792	0.683	0.636
5	0.747	0.621	0.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	1.833	1.736	1.690
3	2.673	2.487	2.402
4	3.465	3.170	3.037
5	4.212	3.791	3.605

Using the tables above, what would be the present value of $12,835 (rounded to the nearest dollar) to be received four years from today, assuming an earnings rate of 10%?

2-

Using the following partial table of present value of $1 at compound interest, the present value of $33,956 to be received three years hence with earnings at the rate of 6% a year is (round to two decimal points).

Year	6%	10%	12%
1	0.943	0.909	0.893
2	0.890	0.826	0.797
3	0.840	0.751	0.712
4	0.792	0.683	0.636

a.$26,893.15

b.$23,191.95

c.$21,596.02

d.$28,523.04

3-

Use these present value tables to answer the question that follow.

Below is a table for the present value of $1 at Compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	0.890	0.826	0.797
3	0.840	0.751	0.712
4	0.792	0.683	0.636
5	0.747	0.621	0.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	1.833	1.736	1.690
3	2.673	2.487	2.402
4	3.465	3.170	3.037
5	4.212	3.791	3.605

Using the tables above, what would be the present value of $12,835 (rounded to the nearest dollar) to be received four years from today, assuming an earnings rate of 10%?

a.$8,766

b.$12,835

c.$10,165

d.$40,687

4-

Use these present value tables to answer the question that follow.

Below is a table for the present value of $1 at Compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	0.890	0.826	0.797
3	0.840	0.751	0.712
4	0.792	0.683	0.636
5	0.747	0.621	0.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	1.833	1.736	1.690
3	2.673	2.487	2.402
4	3.465	3.170	3.037
5	4.212	3.791	3.605

Using the tables above, what would be the present value of $49,000 (rounded to the nearest dollar) to be received three years from today, assuming an earnings rate of 6%?

a.$49,000

b.$41,160

c.$130,977

d.$61,466

5-

A firm produces its products by a continuous process involving three production departments, 1 through 3. Following are the selected transactions related to production during August:

(a)	Materials purchased on account, $120,000.
(b)	Material requisitioned for use in Department 1, $125,700, of which $124,200 entered directly into the product.
(c)	Labor cost incurred in Department 1, $195,400, of which $174,000 was used directly in the manufacture of the product.
(d)	Factory overhead costs for Department 1 incurred on account, $54,700.
(e)	Depreciation on machinery in Department 1, $29,200.
(f)	Expiration of prepaid insurance chargeable to Department 1, $7,000.
(g)	Factory overhead applied to production in Department 1, $106,300.
(h)	Output of Department 1 transferred to Department 2, $362,700.

	Required:
	Present entries to record the selected transactions related to production during August. Refer to the Chart of Accounts for exact wording of account titles.