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2 years ago

Land doesn't cease to exist, and it's not depreciated or covered by property insurance because of its ______.

1 answer:

4 0

Land doesn't cease to exist, and it's not depreciated or covered by property insurance because of its Indestructibility. The property insurance coverage might include homeowners insurance, renters insurance, flood insurance, and earthquake insurance. The exception is high-value and the expensive personal property, which is normally covered by purchasing a "rider" to the policy.

If a claim is made, the property insurance policy will either reimburse the insured for the actual cost of the damage or the cost of replacing the problem. The property insurance can include, among the other things, homeowners insurance, renters insurance, flood insurance, and the earthquake insurance.

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Kennedy Company reports the following costs and expenses in May.

mamaluj [8]

Answer:

a. $161,350

b. $398,050

c. $81,140

Explanation:

Total amount of manufacturing overhead

Factory utilities $16,500

Depreciation on factory equipment $12,650

Indirect factory labor $48,900

Indirect materials $70,800

Factory manager's salary $8,000

Property taxes on factory building $2,500

Factory repairs $2,000

Total $161,350

Note : Manufacturing Overheads are Indirect Manufacturing Costs that can not be easily traced to the Product being manufactured.

The total amount of product costs

Direct materials used $157,600

Direct labor $79,100

Manufacturing Overhead $161,350

Total $398,050

Note : Product Costs are Direct Manufacturing Costs that can be easily traced to the Product being manufactured.

The total amount of period costs

Depreciation on delivery trucks $3,800

Sales salaries $48,400

Repairs to office equipment $1,300

Advertising $23,000

Office supplies used $4,640

Total $81,140

Note : All Non Manufacturing Costs are Period Cost. Period Costs are expensed in the Income Statement.

4 0

3 years ago

The following model shows how resources in an economy move between households, businesses, and government. The Circular Flow Mod

Alex

Answer:

The correct answer is the circular flow model.

Explanation:

The circular flow model shows the movement of resources between different sectors in the economy. The firms or business hire factors of production from the households. In return, they make factor payments. They use these factors to produce goods and services. The households purchase these goods and services and pay by their factor incomes.

The government sector charges taxes from households and businesses and provides goods and services in return. The government also hires factors of production and make factor payments. It also purchases goods and services from the businesses and pays for it.

6 0

3 years ago

Both goods and services can be standardized for the mass market or customized to individual needs.

Kazeer [188]

The answer to this statement is True goods and services can be easily balanced and purchased at certain prices and if needed the prices will increase

7 0

3 years ago

The following information was available for the year ended December 31, 2013: Net sales $ 803,000 Average accounts receivable fo

WARRIOR [948]

Answer: 3.70

Explanation: Stock turnover can be calculated using following formula :-

$stock\:turnover\:ratio=\frac{cost\:of\:goods\:sold}{average\:stock}$

where,

cost of goods sold =598,600

average stock = 162,000

now, putting the values into equation above, we get :-

$stock\:turnover\:ratio=\frac{598,600}{162,000}$

= 3.70

8 0

3 years ago

Quincy listed his assets and liabilities.

zheka24 [161]

Assets are items or properties that you own, and that are valuable to you. Liabilities are things that you have to pay for as a result of you using something. So, having that in mind, Quincy's liabilities are rent, student loan, and utilities, whereas his assets are cash, stocks, and jewelry.
He gets cash when he finishes his work, he gets money from stocks, and he has his jewelry that he either bought or got as a gift that he can sell for money.

3 0

3 years ago

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