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inn [45]
3 years ago
11

Whitewater Rapids provides canoes to tourists eager to ride Whitewater river's rapids. Management has determined that there is o

ne chance in a thousand of a customer being injured or killed. Settlement of resulting lawsuits has an average cost of $850,000. Insurance with a $100,000 deductible is available. It covers the costs of lawsuits, unless there is evidence of criminal negligence. What is the expected loss without insurance?
Business
1 answer:
alina1380 [7]3 years ago
8 0

Answer:

Expected loss without insurance = $850

Explanation:

Given:

Probability to got injured or killed = 1 / 1000

Law suit average cost = $850,000

Deductible insurance = $100,000

Expected loss without insurance = ?

Computation of Expected loss without insurance:

Expected loss without insurance = Lawsuit average cost × Probability to get injured or killed

Expected loss without insurance = $850,000 × (1 / 1000)

Expected loss without insurance = $850

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Georgia Products Inc. completed and transferred 163,000 particle board units of production from the Pressing Department. There w
Lerok [7]

Answer:

Pressing Department. Round "cost per equivalent unit" answers to the nearest cent.

a. Total conversion cost $

b. Conversion cost per equivalent unit $

c. Direct materials cost per equivalent unit $

a. Total conversion cost                     252.900

b. Conversion cost per equivalent unit  0.61

c. Direct materials cost per equivalent unit  3.20

Explanation:

Solution

a. Total conversion cost                     252.900

b. Conversion cost per equivalent unit  0.61

c. Direct materials cost per equivalent unit  3.20

Statement of Equivalent Units(Weighted average)

Material Conversion cost

Units   Complete         % Equivalent units Complete % Equivalent units

Transferred out     163.000 100%    163,000 100%             163,000

Ending WIP               14,000 100%     14,000 40%                  5,600

Total                     177,000 Total    177,000 Total             168.600

.

Cost per Equivalent Units (Weighted average)

COST                              Material Conversion cost TOTAL

Beginning WIP Inventory Cost    $ 0

Cost incurred during period  628.350         252.900        881.250

Total Cost to be accounted for    566,100         102,900       669,000

Total Equivalent Units             177,000          168.600

Cost per Equivalent Units      3.20                 0.61             3.81

3 0
2 years ago
In which investment category are fair values and subsequent growth of an investee not relevant for reporting?
Iteru [2.4K]

Answer:

The correct answer is <em>held-to-maturity securities</em>.

Explanation:

Securities held until expiration (HTM) are purchased to be held until expiration. The management of a company could invest in a bond that they plan to hold until they expire. As a result, there are different accounting treatments for retained securities until maturity compared to securities that must be settled in the short term.

4 0
3 years ago
A general partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the
azamat

Answer:

True

Explanation:

A partnership is a type of business owned by two or more individuals known as partners. The partners join forces to exploits their talents and resources and profit from the business. A partnership may comprise of general and limited /silents partners.

The general partner participates in the day to day activities of the business. He or she makes business decisions on behalf of the partnership. Because a general partner is actively involved in managing the business, he has unlimited liability to its obligations. Should the partnership fail to meet its obligation, the assets of a general partner sold to settle the debts. He or she need not have been involved in creating the liability.

5 0
3 years ago
An unfavorable materials quantity variance indicates that:.
skelet666 [1.2K]

An unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

<h3>What do you mean by material quantity variance?</h3>

The material quantity variance refers to the difference between the standard amount and the actual amount of materials used in the production process.

The material quantity variance yield unusual results as it is based on a standard unit quantity that is not even close to the actual usage.

Therefore, an unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

Learn more about Material Quantity variance here:

brainly.com/question/15082996

#SPJ1

3 0
2 years ago
What should you do to elicit the most useful data in your interviews? Ask primarily yes-or-no questions. Ask leading and ambiguo
grin007 [14]

Answer:

Make your questions objective and friendly.

Explanation:

An interview is an essential step in the process of selecting a candidate to fill a position in a company.

Through the interview, verbal and non-verbal data are collected that will help in the relationship between the profile of the interviewed candidate and the profile expected to fill the vacancy.

It is important that the interviewer uses some techniques to make the interview flow effectively, the first of which is to maintain a friendly posture, as it is common for candidates for an interview to feel intimidated or anxious due to the selection process.

It is also essential that the questions are objective and honest, so that there is a correct understanding and the candidate can answer correctly and effectively.

And the interview should be a step that does not cause intimidation and lack of ethics on both sides, it is ideal that the candidate feels motivated to ask relevant questions to answer their doubts, and that the interviewer conducts the interview schedule in an effective way.

5 0
2 years ago
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