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3 years ago

The unexpired insurance at the end of the fiscal period represents

Business

1 answer:

lord [1]3 years ago

7 0

Answer:

Deferred expense

Explanation:

The deferred expense is the expense that is already incurred but it does not realize.

In other words, it is an advance payment or prepaid payment for the service to be consumed in the future. The cost is reflected in the asset side of the balance sheet.

It could be prepaid rent, prepaid insurance, etc

Since there is unexpired insurance at the end that reflects the deferred expense.

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Assuming no direct factory overhead costs (i.e., inventory carry costs) and $3 million dollars in combined promotion and sales b

MakcuM [25]

Answer:

they need to limit the material and labor costs to $22.75

Explanation:

given data

combined promotion = $3 million

contribution margin ratio = 35%

Selling price = $35 per unit

to find out

what would they need to limit the material and labor costs to

solution

we get here Contribution margin per unit that is express as

Contribution margin per unit = $35 × 35%

Contribution margin per unit = $12.25 per unit

and Variable cost will be

Variable cost = $35 - $12.25

Variable cost = $22.75 per unit

and we know Variable cost is also express as

Variable cost = Direct materials costs + Direct labor costs + Direct factory overheads ..............1

here direct factory overheads is 0 and Direct materials costs + Direct labor costs is $22.75

so put in equation 1

Variable cost = $22.75 + 0 = $22.75

so we can say that they need to limit the material and labor costs to $22.75

8 0

3 years ago

Suppose that Sally J. Society recently lost her job as an underwater welder. In looking for a new job, she discovers that the o

Mademuasel [1]

Answer:

D. Structurally unemployed

Explanation:

Structural unemployment is a type of involuntary unemployment. It is when a person cannot get a job because there's no job available that matches the skills the person possesses.

Seasonal unemployment is when Labour is unemployed during particular seasons.

Cyclical unemployment is when unemployment rises when there's a downturn of the economy and falls when there's a boom.

Frictional unemployment occurs when Labour is moving from one job to another.

I hope my answer helps you

3 0

2 years ago

A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 eac

Alchen [17]

Answer:

Ans. the rate of return of this invesment is 3.5278% annual.

Explanation:

Hi, what we need to do here is to find the future value of all six payments, beginning when the child turns 12, which will end when he turns 17. One year later (when the child turns 18) he will receive $25,000 per year, for the next 4 years. This is the equation that we need to use (and solve for "r").

$\frac{A_{1}((1+r)^{6}-1) }{r} =\frac{A_{2}((1+r)^{4}-1) }{r(1+r)^{4} }$

Where:

A1=$14,000

A2=$25,000

So, everything should look like this

$\frac{14,000((1+r)^{6}-1) }{r} =\frac{25,000((1+r)^{4}-1) }{r(1+r)^{4} }$

As you can see, this would take forever to solve, so what we have to do is to use MS Excel, we have to use the "Goal Seek" function. Please check the MS Excel spread sheet attached to this answer.

Please use this function with the following parameters.

Set Cell: G7

To Value: 0

By changing cell: G2

Ans. 3.5278%

Best of luck.

Download xlsx

5 0

3 years ago

Name any four roles (functions) of money

andrezito [222]

Answer:Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.

Explanation:

6 0

3 years ago

Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $ 260,000 Accounts Rec

Amiraneli [1.4K]

Answer:

1. Suzuki estimates 12% of receivables: Net income (before taxes) in 2021 decreases by $5,500 and total assets in 2021 decreases by $5,500

2. Suzuki estimates 3% of credit sales: Net income (before taxes) in 2021 decreases by $7,800 and total assets in 2021 decreases by $7,800

Explanation:

1. Suzuki estimates 12% of receivables

Bad debts are estimated: 12% x $55,000 = $6,600

Before adjusting, Allowance for Uncollectible Accounts balance of $1,100 (credit).

Bad debts expense = $6,600 - $1,100 = $5,500

The entry will be made:

Debit Bad debts expense $5,500

Credit Allowance for Uncollectible Accounts $5,500

Net income (before taxes) in 2021 decreases by $5,500 and total assets in 2021 decreases by $5,500

2. Suzuki estimates 3% of credit sales

Bad debts are estimated: 3% x $260,000 = $7,800

The company uses the percentage of sales method.

Bad debts expense = $7,800

The entry will be made:

Debit Bad debts expense $7,800

Credit Allowance for Uncollectible Accounts $7,800

Net income (before taxes) in 2021 decreases by $7,800 and total assets in 2021 decreases by $7,800

7 0

2 years ago