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sweet-ann [11.9K]
3 years ago
6

Most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insuran

ce. If $4,700 worth of jewelry and $6,000 worth of silverware were stolen from a family, what amount of the claim would not be covered by insurance?
Business
1 answer:
rjkz [21]3 years ago
8 0

Answer: $7200

Explanation:

From the question, we are informed that most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insurance. If $4,700 worth of jewelry and $6,000 worth of silverware were stolen from a family.

The amount of claim that would not be covered by the insurance will be:

= ($4,700 - 1,000) + ($6,000 - 2,500)

= $3,700 + $3,500

= $7,200

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When comparing the GDP of different countries, two issues immediately arise - currency and population differences. How does one
kykrilka [37]

Answer: Currency is converted to common currency, GDP is divide by population and compare GDP per Capita

Explanation:

GDP is measured in a countries currency. When Comparing a GDP of one country to the GDP of another country currency is converted into a common currency. Currency can be converted using exchange rate. the GDP of one country will then be expressed in the currency of another country using the exchange rate.

Some countries have a high number of population than others, for example China has more people than Mexico. therefore measure GDP and The standard of living between countries GDP will need to be divided by population which will give us GDP per capita which measures the standard of living by showing the GDP per person

7 0
3 years ago
Conversion cost per equivalent unit is the combined costs of direct materials and factory overhead.
Maksim231197 [3]

Answer:

False

Explanation:

Cost

This is simply defined as a payment of cash or the commitment to pay cash in the future for revenues purpose. E.g. The cash used to purchase a tractor, is the cost of the tractor.

Conversion costs

This is simply regarded as direct materials, direct labor, and factory overhead costs that can be selected together or grouped together for analysis and reporting. It consist of direct labor in factory overhead costs.

The Equation for Conversion cost is simply = Direct Labor Cost + Manufacturing Overhead Cost.

While the Equivalent Units of Production = Number of Units Transferred to the next department + Equivalent Units in Ending Works in Process Inventory.

The equation for Equivalent units of production for conversion cost is given below: Units completed and transferred out + Equivalent units in ending work in process for conversion cost.

The equation for Cost per equivalent unit for conversion cost is simply =

(conversion cost of beginning work in process + conversion cost added during the period)/ Equivalent units of production for conversion cost.

8 0
2 years ago
Social security and medicare are
Ber [7]
Social safety programs that Americans pay into during their working years through taxes. Both are designed to assist older Americans and distribute benefits to the disabled and their families.

Hopes This Helps
4 0
3 years ago
Read 2 more answers
What is economics, and how are the three sectors of the economy linked?
marysya [2.9K]

Answer:

This is a part of my Economic Resources doc and I'm not sure about the second part of the question but I hope it helps!

Explanation:

Economic Resources

For a firm (producer) to make any product, it needs to use ECONOMIC RESOURCES. These are INPUTS to be used together or combined efficiently to produce goods/services.

What you need to know:

What is a PRODUCER?

a person, franchise, brand or country etc. that makes, grows, or produces goods and services for sale to customers or consumers.

What is a RESOURCE?

a stock or supply of goods, materials, and products that can be bought  by a person or organization in order to function effectively.

What is an ECONOMIC resource?

Natural supplies that can be used to make a product. It is important for the success of the company.

Classification of Economic Resources:

Natural resources (LAND)

Natural resources are ones who are not man made and are there naturally. This could be land, light, water, electricity, etc.

Human resources (LABOUR)

Capital resources (CAPITAL)

Entrepreneurship (ENTERPRISE)

3 0
3 years ago
Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.
murzikaleks [220]

Answer: $2.78

Explanation:

Average variable cost is calculated by dividing the total variable cost of producing a certain number of units of a good by that same number of units.

Average variable cost = Variable cost of producing 18 sneakers / 18

= 50 / 18

= 2.7778

= $2.78

7 0
3 years ago
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