1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IrinaVladis [17]
3 years ago
7

A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,700 and is

paid at the beginning of the first year. Eighty percent of the premium applies to manufacturing operations and 20% applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first full year of coverage?
Business
1 answer:
jasenka [17]3 years ago
6 0

Answer:

$720 and $180

Explanation:

According to the scenario, computation of the given data are as follows:

Premium for 3 years = $2,700

So, premium for 1 year = $2,700 ÷ 3 = $900 per year

Manufacturing operation percentage = 80%

Selling and administrative operation percentage = 20%

So, Premium for manufacturing operation = $900 × 80% = $720

And Premium for selling and admin operation = $900 × 20% = $180

You might be interested in
A local restaurant has prepared a new recipe for it's lunch menu which form of nonprice competition is this?
s344n2d4d5 [400]
Non price competition is competing against others when price isn't the driving force of differentiation. If a local restaurant repairs a new recipe for it's lunch menu it is using the physical characteristic form of non price competition. The restaurant is hoping to differentiate based on the quality and taste of their new lunch item compared with another restaurants. 
7 0
3 years ago
Read 2 more answers
Weston acquires a new office machine (7-year class asset) on August 2, 2017, for $75,000. This is the only asset Weston acquired
Arturiano [62]

Answer:

The total cost recovery for 2017 is $38,838.75 and The total recovery cost for 2018 is $6457.031

Explanation:

for 2017:

additional first year depreciation = $75,000*50%

                                                       = $37,500

using 7-year MACRS mid quater converntion, the depreciation % for quater 4 is 3.57%

additional MACRS cost recovery = ($75,000 - $37,500)*3.57%

                                                       = $1338.75

total cost recovery for 2017 = $37,500 + $1338.75

                                              = $38,838.75

for 2018, additional first year depreciation is $37,500

using 7-year MACRS mid quarter convention for next year, the depreciation % fpr quarter 4 is 27.55%

the machine sold in september , so it was used for two full quarters and half third quater

the recovery is computed for 2.5 over 4 quarters of a year

additional MARSC cost recovery = $37,500*27.55%*(2.5/4)

                                                       = $6457.031

total recovery cost for 2018 is $6457.031

Therefore, The total cost recovery for 2017 is $38,838.75 and The total recovery cost for 2018 is $6457.031

7 0
3 years ago
Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation’s ant
Andrej [43]

Based on the costs incurred by Kasper Corporation to make the commercial-grade cooking griddle, the total cost per unit is <u>$55.00.</u>

<h3>What is Kaspar Corporation's cost per unit?</h3>

This can be found as:
= Direct materials + Direct labor +  Variable manufacturing overhead  + Fixed manufacturing overhead per unit + Variable selling and administrative expenses + Fixed selling and administrative expenses per unit

Solving gives:

= 17 + 8 + 11 + (300,000 / 30,000) + 4 + (150,000 / 30,000)

= $55

Find out more on the total cost of produced units at brainly.com/question/18089483.

#SPJ1

6 0
2 years ago
A farmer sells a bushel of corn to the supermarket for $12. The supermarket then sells the corn to customers for $25. What is th
allsm [11]

Answer:

$ 25

Explanation:

As per the description, the exact amount that is being contributed from the corn bushel to the Gross Domestic Product would be $ 25. The price at which the farmer sold it to the supermarket would not be included in the GDP because it would be considered as an intermediary good because the good purchased for the resale purpose is not included in GDP as it leads to double-counting. Thus, <u>only the price of the final good i.e. $ 25 would be included in GDP as it will now be used for final consumption by the customers</u>.

6 0
3 years ago
To form a corporation, the organizers must follow the requirements set forth by the corporation code of the state in which the c
Fantom [35]

Answer: Incorporating a corporation

Explanation:

According to the question, the given process is known as incorporating the corporation. As, the incorporation is one of the type of legal process in which the organization are used the various types of corporate entities to form a corporation.

The corporation is the type of legal entity in an organization which results into the separation of investors and the owner.

According to the question, the organizers uses the proper requirement with the help of corporation code to form a proper corporation.

8 0
3 years ago
Other questions:
  • Financial assets Group of answer choices
    10·1 answer
  • For a portfolio of 40 randomly selected stocks, which of the following is most likely to be true? a. The beta of the portfolio i
    15·1 answer
  • What are the two fundamental equality requirements of the double-entry accounting system?
    9·1 answer
  • Assume Fiona is willing to pay $8 for a pizza cutter. Tim also wants one, but is only willing to pay $6 for one. At a pizza bake
    5·1 answer
  • As recognized in the case in the text, Toys "R" Us, Inc. v. Canarsie Kiddie Shop, Inc., to obtain trademark protection, a descri
    14·1 answer
  • One car rental agency rents a mid dash size car at a daily rate of ​$36.95 plus 36 cents per mile. Another company rents a mid d
    12·1 answer
  • Suppose a small manufacturing business wishes to have a system to manage all its vital business operations, they should go for a
    14·1 answer
  • In a floating exchange rate system, a current account deficit is likely to be corrected by :
    8·1 answer
  • On January 1, 2010, North Co. sold equipment and accepted in exchange a $600,000 zero-interest-bearing note due on January 1, 20
    6·1 answer
  • Samantha is part of a project management team working on the initiation phase of a project. What is her team expected to do in t
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!