Answer:
The policy should cover all the options
Explanation:
That's because we are talking about a full cover insurance. So, in all cases, the insurance must cover all the damages related with physical (include persons or material damages) or psychological injuries.
That is true, a lawsuit can be drawn against the third party.
Answer:
Inventories refer to goods that have been produced but not yet sold.
Explanation:
Inventories or Stock refer to goods that have been produced but not yet sold. It also means goods that have been purchased by the company with the intention of selling them for profit. Once goods are sold, they are erased from the inventory records and transferred to the sales accounts, and only 'goods available for sale' will primarily classify as inventory.
Furthermore, there is also 'raw material inventory' which is the goods that have been bought to be used in production.
Answer: Total consumer surplus is $27
We calculate Consumer Surplus as follows:
We calculate Consumer Surplus for each person
Person Price Willing Actual Price Consumer Surplus
John 30 20 
Susie 28 20 
Joseph 25 20 
Jessica 23 20 
<u>Jeremy 21 20 
</u>
<u>Total Consumer Surplus 27 </u>
Answer:
Fixed manufacturing overhead per unit = $580 per unit.
Fixed selling and administrative expenses per unit = $177 per unit.
Explanation:
Units of production anticipated = 3,420
Fixed manufacturing overhead per unit = Fixed manufacturing overhead ÷ Units of production anticipated = $1,983,600 ÷ 3,420 = $580 per unit.
Fixed selling and administrative expenses per unit = Fixed selling and administrative expenses ÷ Units of production anticipated = $605,340 ÷ 3,420 = $177 per unit.
