The producer's role at an insurance agency is to generate the revenue necessary for the company to thrive and expand. Instead of the usual salesman who knocks on doors to promote their products, the producer frequently replies to inquiries from customers who need insurance.
<h3>What is the role of an insurance producer?</h3>
The producer's role at an insurance agency is to generate the revenue necessary for the company to thrive and expand. Instead of the usual salesman who knocks on doors to promote their products, the producer frequently replies to inquiries from customers who need insurance.
A producer of insurance is not allowed to represent an insurer unless they are appointed as that insurer's agent. Insurance commissioners' duties include preserving reasonable insurance product prices, ensuring the availability of insurance coverage, safeguarding the financial stability of insurance businesses, and stopping unfair business activities.
Professionals in the sector who sell insurance products are known as insurance producers. They are permitted to sell a variety of insurance products from an insurance company, including property, commercial, life, health, and other types. Producers have the option of specializing in one or more lines of insurance.
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Answer: Exclusive distribution
Explanation: In simple words, it refers to an arrangement in which the manufacturer gives an exclusive right to a distributor to sell his or her product. No other distributor can sell that product in the market.
In the given case, Jennifer and Marc have given special right to Kohl's for selling the special fashion line they have established.
Hence from the above we can conclude that they have exclusive distribution arrangement.
Answer:
C increase both output and price.
Explanation:
A monopolist respond to an increase in demand by increasing output and price.
In the given case, Marginal revenue is greater than marginal cost at those levels of output produced and the firm can make higher profits by increasing number of output. A monopolist can determine its profit maximizing price by analysing the marginal revenue and marginal cost of producing extra unit of output.
Answer:
The future value of the same annuity due is $9307.50
Explanation:
FVA6 = 8500*(1 + 9.5%)
= $9307.50
Therefore, The future value of the same annuity due is $9307.50
Answer:
(a) Plant wide predetermined overhead rate:
= 30
Manufacturing overhead applied Job A:
= Total direct labor hours × Plant wide predetermined overhead rate
= 15 × 30
= 450
Manufacturing overhead applied Job A:
= Total direct labor hours × Plant wide predetermined overhead rate
= 9 × 30
= 270
(b) Departmental predetermined overhead rates:
= 30
= 1.2
Manufacturing overhead applied Job A:
= (Machining machine hours × 30) + (Assembly direct labor hours × 1.2)
= (11 × 30) + (10 × 1.2)
= 330 + 12
= 342
Manufacturing overhead applied Job B:
= (Machining machine hours × 30) + (Assembly direct labor hours × 1.2)
= (12 × 30) + (5 × 1.2)
= 360 + 6
= 366
