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Travka [436]
1 year ago
11

Marlene has been living in her $120,000 home for 31 years. Because she has paid off the mortgage, she decides to save some money

on her monthly insurance premiums by reducing her homeowners coverage to $40,000. After a severe hailstorm totals her roof, her adjuster estimates the damage at $12,000. Assuming the insurer imposes the standard coinsurance penalty, and ignoring the deductible, how much will Marlene receive in the settlement
Business
1 answer:
Ksju [112]1 year ago
8 0

Marlene will receive $5,000 in the insurance settlement.

<h3>What is an insurance settlement?</h3>

An insurance settlement is an indemnity or compensation that the insurance company pays to the insured to settle an insurance claim according to the insurance policy guidelines.

<h3>Data and Calculations:</h3>

Property value = $120,000

Homeowner's coverage = $40,000

Estimated damage = $12,000

Standard coinsurance requirement threshold = 80%

Expected insurance coverage = $96,000 (120,000 x 80%)

Co-insurance penalty = 41.67% ($40,000 / $96,000 x 100)

Indemnity  = $5,000 ($12,000 x 41.67%)

Thus, Marlene will receive $5,000 in the insurance settlement.

Learn more about insurance indemnity at brainly.com/question/8025172

#SPJ12

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Which of the following is not one of the competitive forces included in the competitive forces​ model?
photoshop1234 [79]

Answer:

C) the firms ability to differentiate its product

Explanation:

Porter five forces of the model comprise rivalry among competitors, bargaining power of suppliers, bargaining power of buyers, the threat of new entrants, the threat of substitution.

The rivalry among competitors deals with the strength and weaknesses of the competitors so that the business does the planning accordingly.  

The bargaining power of suppliers stated the change in the price of the product made by the supplier's offer plus the customer are attracted towards the product as the product is unique which impact the overall profit

The bargaining power of buyers deals with the number of buyers and how much orders are given by a single buyer.  

The threat of new entrants impacts the overall position of the business if the competitor enters the market.  

The threat of substitution is an alternative way to produce the goods and services which can also drop your position and also it directly impact profitability.  

4 0
3 years ago
Max and Eli both graduated from the police academy. Max chose to work in a large city with high crime rates, while Eli chose a j
Rina8888 [55]

Answer: Compensating differentials.

Explanation:

Compensating differential is the additional amount of money that a worker is given in order to motivate the worker to accept an undesirable job. Compensating differentials is as a result of the risk of injury, risk of future unemployment, risk of unsafe environment and it explains why there is difference in pay between different regions

Even though Max and Eli have the same skill and are members of the same trade union, Max is paid higher than Eli because Max works in an area with high crime rate while Eli's area has a low crime rate. Thus, Max higher is expected because the cost of living is higher in a city and also due to higher crime rates which means he's likely to work mire than Eli.  

5 0
3 years ago
Read 2 more answers
Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into ya
sammy [17]

Answer:

Port Ormond Carpet Company

1. Journal Entries:

Jan. 31 Debit Materials $500,000

Credit Accounts payable $500,000

To record the purchase of materials on account.

Jan. 31 Debit Work-in-Process - Spinning $275,000

Credit Materials $275,000

To record the materials requisitioned.

Jan. 31 Debit Work-in-Process -Tufting $110,000

Credit Materials $110,000

To record carpet backing

Jan. 2 Debit Factory Overhead - Spinning $46,000

Debit Factory Overhead - Tufting $39,500

Credit Materials $85,500

To record indirect materials used.

Jan. 31 Debit Work-in-Process - Spinning $185,000

Debit Work-in-Process - Tufting $98,000

Credit Factory Payroll $283,000

To record direct labor costs.

Jan 31: Debit Overhead - Spinning $18,500

Debit Overhead - Tufting $9,000

Credit Factory Payroll $27,500

To record indirect labor costs.

Jan. 31: Debit Factory Overhead - Spinning $12,500

Debit Factory Overhead - Tufting $8,500

Credit Factory Depreciation Expense $21,000

To record depreciation costs.

Jan. 31:

Debit Factory Overhead - Spinning $2,000

Debit Factory Overhead - Tufting $1,000

Credit Factory Insurance $3,000

To record insurance costs.

Jan. 31 Debit Work-in-Process - Spinning $80,000

Credit Factory Overhead - Spinning $80,000

To record overhead costs applied.

Jan. 31 Debit Work-in-Process - Tufting $55,000

Credit Factory Overhead $55,000

To record overhead costs applied.

Jan. 31 Debit Work-in-Process - Tufting $547,000

Credit Work-in-Process - Spinning $547,000

To record the transfer to Tufting department.

Jan. 31 Debit Finished Goods Inventory $807,200

Credit Work-in-Process- Tufting $807,200

To record the transfer to Finished Goods.

Jan. 31 Debit Cost of Goods Sold $795,200

Credit Finished Goods $795,200

To record the cost of goods sold.

2. January 31 balances of the inventory accounts:

Finished Goods = $74,000

Work-in-Process - Spinning = $28,000

Work-in-Process - Tufting = $31,300

Materials = $46,500

3. Factory Overhead Accounts Balances:

Spinning $1,000 (Debit)  

Tufting $3,000 (Credit)

Explanation:

a) Data and Calculations:

January 1 Inventories:

Finished Goods = $62,000

Work in Process- Spinning = $35,000

Work in Process - Tufting = $28,500

Materials = $17,000

Finished Goods

Account Titles                                Debit      Credit

Jan. 1 Beginning balance           $62,000

Jan. 2 Work-in-Process-Tufting 807,200

Jan. 31 Cost of Goods Sold                     $795,200

Jan. 31 Ending balance                                74,000

Work-in-Process - Spinning

Account Titles                   Debit      Credit

Beginning balance        $35,000

Jan. 2 Materials            275,000

Jan. 31 Direct labor       185,000

   Applied overhead      80,000

    Work-in-Process -Tufting        $547,000

Jan. 31 Ending balance                   28,000    

Work-in-Process - Tufting

Account Titles                             Debit      Credit

Jan. 1 Beginning balance        $28,500

Jan. 2 Carpet backing              110,000

Jan. 31 Direct labor                   98,000

 Jan. 31 Applied overhead        55,000

Jan. 31 WIP- Spinning            547,000

Jan. 31 Finished Goods                        $807,200

Jan. 31 Ending balance                              31,300

Cost of Goods Sold

Account Titles                             Debit      Credit

Jan. 31 Finished Goods       $795,200

Materials

Account Titles                            Debit       Credit

Jan. 1 Beginning balance         $17,000

Jan. 2 Accounts payable       500,000

Jan. 31 Work-in-Process - Spinning           $275,000

Jan. 31 Work-in-Process - Spinning               46,000

Jan. 31 Factory Overhead - Tufting               39,500

Jan. 31 Factory Overhead - Tufting              110,000

Jan. 31 Ending balance                                  46,500

Factory Overhead - Spinning

Account Titles                                    Debit      Credit

Jan. 31 Materials - Spinning             46,000

Jan. 31 Payroll - Spinning                  18,500

Jan. 31 Depreciation - Spinning       12,500

Jan. 31 Factory insurance-Spinning 2,000

Jan. 31 Work in Process                                  80,000

Jan. 31 Balance                                  1,000

Factory Overhead - Tufting

Account Titles                                    Debit      Credit

Jan. 31 Materials - Tufting                39,500

Jan. 31 Payroll - Tufting                      9,000

Jan. 31 Depreciation - Tufting           8,500

Jan. 31 Factory insurance- Tufting    1,000

Jan. 31 Work in Process                                   55,000

Jan. 31 Balance                                                   3,000

7 0
2 years ago
A manufacturing company has annual sales of $180,000 and inventory of $40,000. The inventory turnover ratio for the company is _
NISA [10]

Answer:

4.5

Explanation:

Inventory refers to the goods that a company has in its stock. Inventory includes raw materials and finished goods sold by the company.

Inventory turnover refers to the number of times a company sells and replaces its inventory during a given period.

Annual sales of a manufacturing company =\$180,000

Inventory =\$40,000

Inventory turnover ratio for the company = Sales/Inventory

=\frac{180,000}{40,000} =4.5

6 0
2 years ago
When bonds are sold at a premium and the effective interest method is used, at each interest payment date, the interest expense:
Alex73 [517]

Answer:

decreases

Explanation:

When bonds are sold at a premium, it is sold at a price higher than the par value. For example, if the par value is $100, the bond would be selling at a premium if it is sold at $101. At expiration of the bond's tenor, the price of the bond must equal its par value, so at each each interest payment day, the interest expense decreases

3 0
3 years ago
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