The gross premium is the total premium paid by the policy owner, and generally consists of the net premium plus the expense of operation minus interest
Answer:
$62
Explanation:
Given that
Units = 1000
Price per unit = 60
Future price drawn/loss = 2000
Thus
1000 (x - 60 ) = 2000
Where x = future price
x - 60 = 2000/1000
x - 60 = 2
x = 60 + 2
x = $62
Thus, future price that will allow the withdrawal of 2000 is $62.
Note, each $1 increase in future prices leads to $1000 gain. When future price therefore increases by $2, gain gotten will be therefore $2000 and this can be withdrawn. Intial price was $60, thus, future for 2000 withdraw = 60 + 2 = $62.
Answer:
cost of goods manufactured= $246,000
Explanation:
<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 29,000 + 69,000 + 99,000 + 73,000 - 24,000
cost of goods manufactured= $246,000
Answer:
B. The process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset.
Explanation:
A piece of equipment will cost a lot of money, but should also last for a long time. Accounting depreciation breaks the cost of the equipment (or any asset) into predictable, mathematically determined amounts so that the costs can be "spread out" over the many years that you use it rather than just when you first purchase it.