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jeka94
3 years ago
5

When dealing with insurance what is a premium

Business
1 answer:
musickatia [10]3 years ago
4 0
Premium is the amount of money an individual or business pays for an insurance policy.
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Sonia opened a yoga studio where she teaches classes and sells yoga clothing. Variable costs for Sonia's yoga studio include the
LekaFEV [45]

Answer:

B. (i) and (ii) only

Explanation:

A variable cost is a corporate expense that changes in proportion to production output. Variable costs increase or decrease depending on a company's production volume; they rise as production increases and fall as production decreases. Examples of variable costs include the costs of raw materials and packaging.

In Sonia's yoga studio, the only costs that change as the quantity of the good or service of the business produces changes are :

1. Tank tops

2. Wages paid to the other yoga instructors.

These two costs can change as business becomes bigger and expands.

5 0
3 years ago
Read 2 more answers
Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound.
butalik [34]

Answer:

materials quantity variance: 1,200 unfavorable

Explanation:

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance

std quantity 5400.00

actual quantity 6000.00

std cost  $2.00

(5,400 - 6,000) \times 2.00 = DM \: quantity \: variance

difference -600.00

quantity variance  $(1,200.00)

The difference between standard and actual quantity is negative. We used more pounds than expected, the variance will be unfavorable.

600 extra pounds at $2.00 each = 1,200

6 0
3 years ago
Vaughn Manufacturing has fixed costs of $30000 per year. Its warehouse sells wine with variable costs of 90% of its unit selling
oksian1 [2.3K]

Answer:

$300,000

Explanation:

Calculation for How much in sales does Vaughn need to break even per year

Using this formula

Sales needed to break even=Fixed cost/(1-Unit selling price Variable costs)

Let plug in the formula

Sales needed to break even=$30,000 / (1 -.9)

Sales needed to break even=$30,000 / (0.1)

Sales needed to break even=$300,000

Therefore How much in sales does Vaughn need to break even per year will be $300,000

8 0
3 years ago
The following information is available for Blossom Company:
Aleonysh [2.5K]

Answer:

Total Assets = $124,510

Total Liabilities = $38,320

Total Stockholders' equity = $86,190

Explanation:

Blossom Company

Balance sheet

As at December 31, 2022

Assets

<em>Current assets</em>

Cash                                       $6,390

Accounts receivable                2,100

Supplies                                   3,800

Inventory                                  2,920

Total current asset                                 $15,210

<em>Non-current asset</em>

Equipment (net)                                      109,300

Total assets                                             124,510

Liabilities and Stockholders' Equity

<em>Current liabilities</em>

Accounts payable                   $4,500

Interest payable                            670

Unearned service revenue          820

Salaries and wages payable        830

Total current liabilities                           $6,820

<em>Long-term liabilities</em>

Notes payable                                           31,500

Total liabilities                                        $38,320

<em>Stockholders' equity</em>

Common stock                                         58,900

Retained earnings (Balancing amount)  27,290

Total stockholders' equity                     $86190

Total liabilities and stockholders' equity $124,510

8 0
3 years ago
[The following information applies to the questions displayed below.] Tracy Company, a manufacturer of air conditioners, sold 19
Juli2301 [7.4K]

Answer:

November 17, 2021

Merchandise : air conditioners $45,600 (debit)

Accounts Payable $45,600 (credit)

November 26, 2021

Accounts Payable $45,600 (credit)

Discount Received $1,824 (credit)

Cash $43,776 (credit)

December 15, 2021

Accounts Payable $45,600 (credit)

Cash $45,600 (credit)

Explanation:

November 17, 2021

Merchandise : air conditioners $45,600 (debit)

Accounts Payable $45,600 (credit)

Recognize the Merchandise and Accounts payable at the Purchase Price less trade discount. 190 units × $300 × 80% = $45,600

November 26, 2021

Accounts Payable $45,600 (credit)

Discount Received $1,824 (credit)

Cash $43,776 (credit)

Payment is made within the discount period of 10 days and thus Thomas Company is eligible for a cash discount of 4%. Thomas Company will pay the amount owing less the 4% cash discount. $45,600 × 96% = $43,776.

December 15, 2021

Accounts Payable $45,600 (credit)

Cash $45,600 (credit)

Payment is made out of the discount period of 10 days and thus Thomas Company is  not eligible for the cash discount. Thomas Company will pay the full amount owing of $45,600.

3 0
3 years ago
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