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3 years ago

The viability and relevancy of insurance products sold to businesses and individual?

1 answer:

6 0

It would be better if you attached more information about this question as it's quite difficult to find out what you need. I can help you by telling some words about the viability and relevancy of insurance products. It helps you when you keep factory that produces unusual things and makes that business more stable.

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What are the requirements for being a dental assistant?

AlexFokin [52]

1. Determine whether you possess general characteristics to become a dentist.
2.Complete your prerequisite educational requirements.
3.Take the Dental Admissions Test (DAT).
4.Apply for admission to a dental school.
5.Attend dental school.

7 0

3 years ago

Bailey Furniture Company has prepared the following flexible budget for April and is in the process of interpreting the variance

Grace [21]

Answer:

See notes below

Explanation:

Rate variance

The rate variance is the the difference between the standard labor cost of the actual hours paid for and the actual cost.

Possible reasons:

An increase in wage rate

Skilled workers were as against using the unskilled workers planned for

Efficiency variance

Labour efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate

Possible reasons:

The use of skilled workers who worked faster than the unskilled workers planed for

The workers were trained making them more efficient in saving time

3 0

3 years ago

Nutritional Foods reports merchandise inventory at the lower of the cost or market. Prior to releasing its financial statements

ELEN [110]

Answer:

1. Debit Cost of goods sold $5,000

Credit Inventory account $5,000

Being entries to write down merchandise inventory to its realizable amount.

2. Revised partial Income statement

Amount

Sales revenue $121,000

Cost of goods sold ($54,000 )

Gross Profit $67,000

Explanation:

According to IAS 2 inventories, Inventory is initially be recognized at the cost of purchase (which includes the cost of the item and other associated cost such as freight)

Subsequently, inventory would be measured at the lower of cost or net realizable value.

As such, whenever the cost is higher than the net realizable value, the cost of the inventory will be written down by

Since the current replacement cost of ending merchandise inventory is $16000 and the Cost is $21000.

Amount to be written down

= $21000 - $16000

= $5,000

To adjust for this,

Debit Cost of goods sold $5,000

Credit Inventory account $5,000

Total amount in cost of goods sold = $49,000 + $5,000

= $54,000

Revised partial Income statement

Amount

Sales revenue $121,000

Cost of goods sold $54,000

Gross Profit $67,000

4 0

3 years ago

Tamarisk Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 3

deff fn [24]

Answer:

See explanation section

Explanation:

Give

The cost value for each of the inventory item is as follows:

Product Cost Price

D $88

E $94

F $94

G $94

H $59

I $42

Now, we determine the net realizable value for each of the product:

Net Realizable Value = Selling price - Cost to compete - Selling costs

Product Net Realizable Value

D $93

E $73

F $70

G $41

H $82

I $47

Now, using the LCNRV (Lower of cost or Net Realizable Value) rule, the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items -

Product LCNRV

D $88

E $73

F $70

G $41

H $59

I $42

5 0

3 years ago

Recall the text’s definition of diminishing marginal utility: "the common pattern that each marginal unit of a good consumed pro

son4ous [18]

Explanation:

Note, the term diminishing marginal utility refers to an economic principle that states that the more unit of a particular commodity or service we consume, the more the satisfaction (utility) derived out of the consumption reduces or diminishes.

For instance, if I watched movies produced by a particular entertainment company for several days (eg Disney Studios), I may become dissatisfied using this particular entertainment provider and may decide to try another service (Netflix).

Another instance could occur after exercising, I'm given 3 bottles of coke, after taking my first bottle, the amount of utility I derive would reduce until I get to the third bottle, at this point I've reached my peak.

The law of diminishing marginal utility failed for someone I know who had used the same type of toothpaste and brushed her teeth at least once a day for a period of over 10 years.

6 0

3 years ago