Answer – Elimination period
In insurance, elimination period refers to the time between the
disabling event (e.g. the occurrence of an injury or illness) and the beginning
of payments in the disability coverage (i.e. when payments of insurance benefits are received from the
insurer<span>)</span>
<u>Journal entry for the issuance of Bonds:</u>
It is given that on December 31, 2015, wintergreen, inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. That means the proceeds from issue of these bonds are 150,000*93.25/100 = $139,875 and the discount on issue of bonds shall be = 150,000-139875 = $10,125.
The Journal entry for the issuance of Bonds shall be as follows:
December 31, 2015
<u>Account Titles </u> <u>Debit</u> <u>Credit</u>
Cash $139,875
Discount on Bonds Payable $10,125
Bonds Payable $150,000
(Being bonds issued on discount)
High Cost Products Although average annual retail shrinkage hovers in the area of 1.5 percent, specialty stores carrying an inventory of high-demand products risk higher annual shrinkage due to theft.Or <span>Other high-risk products include men's and women's clothing at more than 3 percent annual shrinkage; </span>
Answer: yes, because some people studied the material which would make it easier for the to catch on.
Explanation:
If there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is (D) $34.60.
<h3>
What is weighted-average costing?</h3>
- To apply the weighted average methodology, divide the cost of the commodities on the market by the number of units still on the shelf.
- This calculation results in the weighted average cost per unit, which can subsequently be used to allocate a cost to both ending inventory and the cost of goods sold.
- When you wish to give some numbers in a dataset more weight than others, you should use a weighted average.
- This is beneficial in situations where a single event might have several positive or bad outcomes, but the scale of the positive or negative outcomes varies.
Weighted average cost per unit formula = divide the total purchase price by the number of units available for sale
∴ $3,650 + $5,000 / 250 = $34.60
Therefore, if there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is (D) $34.60.
Know more about weighted-average costing here:
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Complete question:
Canners Company uses weighted-average costing. Beginning work in process inventory had $3,650 of material costs. During the period, $5,000 of materials and $9,250 in conversion costs were added. If there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is ______. Multiple choice question.
(A) $71.60
(B) $20.00
(C) $57.00
(D) $34.60
