Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. for the first ten years, she contributes $2,100 per year. she increases the contribution rate to $4,100 per year in years 11 through 20. this is followed by increases to $9,100 per year in years 21 through 30 and to $14,100 per year for the last ten years. this money earns a 10 percent return.

first compute the value of the retirement plan when she turns age 65. (round your answer to 2 decimal places.)

compute the annual payment she would receive over the next 40 years if the wealth was converted to an annuity payment at 9 percent. (round your answer to 2 decimal places.)

Exercise 6-2 variable costing income statement; explanation of difference in net operating income [lo6-2] ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $970. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 200 units sold 180 units in ending inventory 20 variable costs per unit: direct materials $ 130 direct labor $ 300 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 63,000 fixed selling and administrative $ 25,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 174,600 cost of goods sold 139,500 gross margin 35,100 selling and administrative expense 27,700 net operating income $ 7,400 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing.