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3 years ago

What is your interpretation of the relationship between auto insurance premiums in Michigan and the national average?

Business

1 answer:

Arada [10]3 years ago

3 0

Answer:

Interpretation between the auto insurance preniums in Michigan and the National average is that In 2017, the average cost of a personal injury protection claim in Michigan was more than six times the national average. Costs are increasing nearly twice as fast, according to the Insurance Research Council.

Explanation:

The rates of auto insurance Premiums in Michigan are most expensive in America. This is due to Michigan's non-fault insurance system, which provides crash victims unlimited lifetime coverage of medical bills.

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Noncash goods and services that would otherwise have to be paid for in cash by the beneficiary is the definition of

Lapatulllka [165]

These are called in kind benefits or benefits in kind. They are benefits which are given to employees or directors from their company. However, these are not included in their salary wages. They are also called perks or fringe benefits and they include things like company cars, medical insurance, and cheap loans.<span> </span>

7 0

3 years ago

Destin Company uses the weighted average method in its process costing system. The first processing department, the welding depa

ICE Princess25 [194]

Answer:

the cost per equivalent unit for conversion costs for the month is $ 6.256 (round off to three decimal places)

Explanation:

The Concept of Equivalent units measures the number of units of output in terms of percentage completion of a certain input element.

In this question we are required to find the cost per equivalent unit for conversion costs.

Step 1 Find the Total conversion costs for the period.

Conversion cost in this beginning work in process inventory $19,200

Conversion costs incurred in the during the month $383,060

Total conversion costs for the period $402,260

Step 2 Find the Total Equivalent units

Hint : First find the Units Completed

Units Completed = 10000+6000-19000

= 51,000

<u> Total Equivalent units</u>

Units Completed ( 51,000 × 100 %) = 51,000

Closing Work In progress ( 19,000 × 70 %) =13,300

Total Equivalent units =64,300

Step 3 Find cost per equivalent unit for conversion costs

cost per equivalent unit = Total conversion costs / Total Equivalent units

= $402,260 / 64,300

= $ 6.256 (round off to three decimal places)

3 0

3 years ago

Costco is able to keep costs down and offer low prices thanks to a no-frill shopping experience for its 64 million members. They

34kurt

Answer:

Costco is following Customer Oriented Strategy in the business.

Explanation:

Costco offers around 4000 different products to its 64 million members. Costco is now planning to stock more of organic products as the popularity for these products among its customers in gaining significance. Costco has also planned to help farmers to grow organic farms which will benefit the Costco customers. This is customer oriented strategy because Costco is focusing on the needs of its customers.

7 0

3 years ago

Which of the following is a capital resource? a. A computer programmer. b. A corporate bond issued by a computer manufacturer. c

Furkat [3]

Answer:

The answer is B. corporate bond issued by a computer manufacturer

Explanation:

Capital in business is the money committed to the business by its owner or owners. Capital can also be from a borrowed fund e.g loan

Bond is a long term loan issued to finance a capital project.

Therefore, the corporate bond issued by a computer manufacturer is a capital.

Option A which is a computer programmer is a human asset.

Option C is an inventory (Current assets). This is used to make computer chips.

Option D is an asset

6 0

3 years ago

To save for retirement, a student invests $60 each month in an ordinary annuity with 6 % interest compounded monthly. Determin

professor190 [17]

Answer:

The student invests $60 each month and the interest rate is 6%. The interest rate is compounded monthly so we will take the interest rate as 0.5% (6/12).

The number of periods will be 420 (35*12) as the payments are made every month.

The present value is 0 as he is not making any investment at the start.

We need to find the future value of these payments, and for that we need to put these values in a financial calculator

PV= 0

PMT= 60

I= 0.5

N=420

Compute FV

FV=85,482

The total accumulated amount in the students annuity will be $85,482.

Explanation:

6 0

4 years ago