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rjkz [21]
3 years ago
5

Michael owns a small plane that he flies on weekends. his insurance agent informs him that aircraft are excluded as personal pro

perty under his homeowner's policy. as an insured, he feels that his plane should be covered just like any other personal property he owns. explain the rationale for excluding certain types of property, such as aircraft, under the homeowner's policy.
Business
1 answer:
Dvinal [7]3 years ago
4 0

Certain types of property are generally excluded from homeowner's policies because there are not needed by the typical homeowner (most people don't own a plane) and including those risks in the policy would unfairly increase premiums for the pool of the rest of policy holders who do not own planes/need that protection. Also, there are other types of insurance that cover specific types of property such as cars, equipment, and air planes.  

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Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $9.10. D
Marrrta [24]

The price variance for Ruby company is at an unfavorable position that is $19,415, the quantity variance stands at $6,370 (favorable condition) and the cost variance has unfavorable balance that is equal to $13,045.

<h3>What is a variance?</h3>

A variance in accounting is the distinction between a forecasted quantity and the real quantity. Variances are common in budgeting, however, you may have a variance in something which you forecast.

As per the information, we have to calculate:

a) Price variance:  (Standard Price - Actual price) * Actual Quantity

   Price variance:   ($9.10 - $9.65) * 35,300

   Price variance:  $0.55 * 35,300

   Price variance:  $19,415 Unfavorable.

b)  Quantity variance =  (Standard Quantity - Actual Quantity) * Standard Price

    Quantity variance = (7,200 * 5 -  35,300) * $9.10

    Quantity variance = (36,000 - 35,300) * $9.10

    Quantity variance = $6,370 Favorable.

C) Cost variance = $19,415 Unfavorable + $6,370 Favorable

    Cost variance = $13,045 U

Hence, The price variance for Ruby company is at an unfavorable position that is $19,415, the quantity variance stands at $6,370 (favorable condition) and the cost variance has an unfavorable balance that is equal to $13,045.

learn more about variance:

brainly.com/question/15858152

#SPJ1

5 0
2 years ago
What are two strategies for dealing with information overload?
Brilliant_brown [7]

Answer:

Letter d is correct. Filtering and withdrawal.

Explanation:

Information overload occurs when there is an excess of daily information, which is enhanced by the use of technologies whose information circulates in free demand and real time. In the organizational world, the use of information technologies has greatly facilitated work processes, data and indices have dramatically increased understanding of buying and selling behaviors, management and control, and internal and external communication. However, it is important to set limits so that there is not too much information, which instead of helping the processes, can confuse individuals, cause conflicts and even a loss of focus.

So the two strategies that best fit the control of information overload are filtering content so that you don't lose focus on what is really relevant to your daily work and withdrawal what is not relevant at the moment. By planning and managing information it is possible to establish greater control.

4 0
3 years ago
You have decided to renovate your restaurant. You estimate that renovations will result in an extra $125,000 in sales per
lozanna [386]

Answer:

13.33 years

Explanation:

The time it takes for an investment to repay its initial investment if the payback period. For an investment project with regular cash flows, the formula for calculating the payback period is ;

Payback period =Initial investment/cash flows

In this case: Initial investment is $2,000,000.00

cash flow= extras sales per year plus saving on utilities

  = $125,000 + $25,000= $ 150,000

payback period = $ 2,000,000/ $ 150,000

      =13.33 years

5 0
3 years ago
Read 2 more answers
Assume that on July 1, Jerome, Inc., paid $100,000 to buy Potter's 8 percent, two-year bonds with a $100,000 par value. The bond
Alinara [238K]

Answer:

Dr Potter's 8% Bonds 100000

Cr Cash 100000

Dr Cash 4000

Cr Interest from Bonds 4000

Explanation:

Preparation of the journal entry to Complete the necessary December 31 entry to record

July, 1

Dr Potter's 8% Bonds 100000

Cr Cash 100000

(Being 8% Bonds purchased)

December, 31

Dr Cash 4000

Cr Interest from Bonds 4000

(100,000*8%*1/2)

(Being Interest received on 8% Bonds)

5 0
2 years ago
The rise of the "Cotton Kingdom" in the South led to all the following EXCEPT: large increase in the number of slaves. an insati
Margaret [11]

Answer:

The answer is increased dependence on banks for credit.

Explanation:

Because the dependence on bankd only happened when the Cotton Kingdom failed and the slavery time was over. So the farmers were left with a huge amount of cotton, debts, no British to buy it. They could not afford the expenses of the equipment, the field, without the bank loans, because in this time, the would need to hire paid workers.

4 0
3 years ago
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