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3 years ago

Which of these statements describe a situation in which people have to make a copay?

1 answer:

6 0

<span>A copayment is a fixed amount paid by a patient to the insurance company prior to a doctors’ visit. Insurance company ask the insured for copay to share health care cost, which is often a small portion of the actual cost of the medical service received. This is meant to prevent a person from seeking unnecessary medical care.</span>

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Sheela Dairy Corporation buys unprocessed cows' milk from local farmers. At the dairy, this unprocessed milk is broken down into

Dafna11 [192]

Answer:

The answer is D) None of these statement is relevant in the decision to further process the cream into butter.

Explanation:

option A) the amount paid to the farmers to purchase the unprocessed milk: this information is not relevant to further develop the cream and low fat milk to butter. It was already considered before this stage of production.

Option B) the cost of breaking down the unprocessed milk into cream and low-fat milk: this cost was already accounted for since the processing into cream and low fat milk is completed.

Option C) the portion of corporate fixed expenses that are currently being allocated to cream: This information is not going to help in the decision making for further processing.

8 0

3 years ago

On January 1, Skysong, Inc. had 90,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $5

timama [110]

Answer:

No. of shares outstanding = A

Par Value (at $5) = B

Additional Paid in capital in excess of Par = C

Dividend = D

A B(A*$5) C D

Jan 1 balance 90,500 $452,500 $0

Add: Issued Apr 1 21,000 $105,000 $294000

June 30 Balance 111,500 $557,500 $294,000 $111,500

shares [111,500 shares x $1]

Add: Dec 1 Issued 2,500 shares $12,500 $32,500

Dec 31 Balance 114,000 $570,000 $326,500 $490,200

[114,000 shares x $4.3]

Journal Entries based on above

Date Accounts Titles Debit Credit

15-Jun Dividends $111,500

Dividends payable $111,500

10-Jun Cash $111,500

Dividends $111,500

15-Dec Dividends $490,200

Dividends payable $490,200

6 0

3 years ago

ABC, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $1,500 and

spin [16.1K]

Answer: Option (d) is correct.

Explanation:

Amount paid for candy = $1,500

Items received = 8,500 pieces of candy

Group 1 = 2,500 pieces

Selling price = $0.15 each

sale value = pieces sold × Selling price

= 2,500 × $0.15 each

= $375

Group 2 = 5,500 pieces

Selling price = $0.36 each

sale value = pieces sold × Selling price

= 5,500 × $0.36 each

= $1,980

Group 3 = 500 pieces

Selling price = $0.72 each

sale value = pieces sold × Selling price

= 500 × $0.72 each

= $360

Total sale value = $375 + $1,980 + $360

= $2,715

$Percentage\ of\ sale\ in\ Group\ 2=\frac{Sale\ value}{Total\ sale\ value}\times 100$

$Percentage\ of\ sale\ in\ Group\ 2=\frac{1,980}{2,715}\times 100$

= 72.92%

Proportion of cost for Group 2 = cost × Percentage of sale in Group 2

= $1,500 × 72.92%

= $1,093.8

$cost\ per\ unit= \frac{cost}{total\ units}$

$cost\ per\ unit= \frac{1,093.8}{5,500}$

= $0.1988

= $0.20(approx)

4 0

3 years ago

When an indian importing firm wants to import u.s.-made products, it must first secure permission and dollars from the reserve b

Kitty [74]

Based on the given scenario above, the type of restriction that is being shown is called CURRENCY DEVALUATION. When there is devaluation in the currency, this would mean that the given currency would have a lesser value as based on an exchanged rate system with reference to foreign currency.

8 0

3 years ago

Blaster, Inc., manufactures portable radios. Each radio requires 3 units of Part XBEZ52, which has a standard cost of $1.25 per

garik1379 [7]

Answer:

1,065 U

Explanation:

Materials Price Variance = Actual Quantity Purchased * (Standard Price – Actual Price)Actual Price= Total Cost / Quantity Purchased

= ($27,690 /21,300 )=$ 1.3

=21,300* [$1.25 – $1.3]

=21,300*0.05

=1,065 U

During May, the materials price variance for part XBEZ52 was 1,065 which is Unfavourable because the actual

purchase price is higher than standard.

5 0

3 years ago