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nalin [4]
2 years ago
13

Jim and Susan are both in good health and Jim has a reasonably secure career. Jim currently has an income of $70,000 and has 2 c

hildren. Jim has been married to Susan for 15 years. Under the Easy Method, what is the amount of insurance Jim would need for his family?
Business
1 answer:
klio [65]2 years ago
7 0

Answer:

$343,000

Explanation:

Given:

Annual income of Jim = $70,000

Amount of life insurance using Easy Method

According to the Easy Method of life insurance, a person has to take 70% of his annual income and multiply it with 7 to get a minimum amount of Life insurance for his family.

According to Easy method Jim's Life insurance amount is $343,000

Computation:

(Annual income)(70%)(7)

($70,000)(0.7)(7)

$343,000

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Pureform, Inc., manufactures a product that passes through two departments. Data for a recent month for the first department fol
Helga [31]

The equivalent units for the month for the first department for material is 48,000 and for labor and overhead 46000.

What is the weighted average ?

  • One of three methods for valuing the stock in your company's inventory is the weighted average cost method, which establishes the average cost of all the products in your inventory based on their individual costs and the quantity of each item that is kept on hand.
  • The weighted average is used by businesses to calculate the amount that goes into inventory and the cost of products sold (COGS).
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Total units transferred = 42000

and, units of ending WIP = 6000(material),  4000(Labor),  4000(overhead)

So,

Equivalent units of production = 48000(material), 46000(Labor),  46000(overhead)

The equivalent units for the month for the first department for material is 48,000 and for labor and overhead 46000.

Learn more about weighted average here:

brainly.com/question/16557719

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4 0
1 year ago
if the marginal propensity to save is 0.12 the marginal propensity to consume(mpc) is the multiplier is
Vlad [161]

Answer:

If the marginal propensity to save is 0.12, the marginal propensity to consume(mpc) is 0.88, and the multiplier is 8.33.

Explanation:

From the question, we are given the following:

mps = Marginal propensity to save = 0.12

The marginal propensity to consume (mpc) and the multiplier can therefore be calculated as follows:

mpc = 1 - mps ........................ (1)

Substituting the values for mps into equation (1), we have:

mpc = 1 - 0.12

mpc = 0.88

Also, we have:

Multiplier = 1 / mps ..................... (2)

Substituting the values for mps into equation (2), we have:

Multiplier = 1 / 0.12

Multiplier = 8.33

Therefore, if the marginal propensity to save is 0.12, the marginal propensity to consume(mpc) is 0.88, and the multiplier is 8.33.

8 0
2 years ago
why would it be inefficient for a producer to start producing audio cassettes instead of CD'S today? what resources would be was
patriot [66]

Explanation:

The consumer won't want to buy cassettes because most music players are cd players if not even that. Plastic, time, money, and labor would be wasted.

8 0
2 years ago
The additional benefit of producing one more roast beef sandwich at a local deli is $2. The additional cost of producing one mor
aivan3 [116]

Answer:

The correct answer is D) "producers should not produce one more roast beef sandwich because MC > MB"

Explanation:

Marginal cost (MC) is the additional cost that you provoke when you add an extra unit of goods or services to your company.

Marginal benefit (MB) is the additional benefit that you receive when you add an extra unit of goods or services to your company.

When:

MC > MB (producers shouldn't produce an additional good or service)

MC < MB (Producers should produce an additional good or service)

4 0
2 years ago
Which of the following was not used in support of the continental drift hypothesis?
Wewaii [24]
Alfred Wegener was the scientist who proposed the Continental Drift Theory in the early twentieth century. Simply put, his hypothesis proposed that the continents had once been joined, and over time had drifted apart. I hope my answer has come to your help. God bless and have a nice day ahead!
3 0
3 years ago
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