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3 years ago

How much liability coverage does the average small business need

Business

2 answers:

Degger [83]3 years ago

8 0

I hope this is the answer that you're looking for

The average annual cost of general liability insurance is $741 (less than $62 per month), a median price of $428 (about $36 per month).

Most small business owners (54 percent) paid between $400 and $600 for their policies, and 21 percent paid less than $400.

vredina [299]3 years ago

4 0

Answer: The Average small business need is $2 million to $3 million

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Assigning manufacturing overhead costs and other indirect costs is called a:

Softa [21]

Answer:

Cost allocation

Explanation:

Cost allocation means the process where the identification, aggregation, and the allocating of the cost is made to the various cost objects. It plays an important role as the cost i.e. incurred for generating a particular product or rendering a service would be determined

So if the manufacturing overhead cost assigned and the other indirect cost so this we called cost allocation

6 0

3 years ago

A manufacturer is contemplating a switch from buying to producing a certain item. Setup cost would be the same as ordering cost.

Luden [163]

Answer:

c. 30 percent lower.

Explanation:

Since the manufacturer is contemplating a switch from buying to producing a certain item while setup cost would be the same as ordering cost, the production rate would be about double the usage rate.

Compared to the Economic Order Quantity (EOQ), the maximum inventory would be approximately 30 percent lower under Economic Production Quantity (EPQ), and higher under EOQ.

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3 years ago

Suppose a self-regulating economy is in a recessionary gap at the time the Fed enacts expansionary monetary policy. Furthermore,

anzhelika [568]

The combination of expansionary monetary policy and a self-regulating economy will cause real GDP will rise to the level above natural real GDP and the recessionary gap would hence turn into an inflationary gap situation.

<h3>What do you mean by monetary policy?</h3>

Monetary Policy refers to the control of the quantity of money available in an economy through which new money is supplied.

The self-regulating economy experiences a recessionary gap. The real GDP is less than the level of natural real GDP. The gap is been corrected by the rightward shift in the short-run aggregate supply curve.

Due to interplay, real GDP will rise to the level above natural real GDP and the recessionary gap turn into an inflationary gap.

Learn more about Monetary policy here:

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8 0

3 years ago

Firms face competing pressures in the marketplace–how to achieve lower costs through proven approaches to production, while look

Solnce55 [7]

Answer:

1. Pressures for local responsiveness may make it difficult to ______________________________.

monitor and adapt to changing customer tastes in a large number of foreign markets

2. __________________________is the most appropriate strategy when there are substantial differences across nations with regard to consumer tastes and preferences, and where cost pressures are not too intense.

Localization strategy

3. ___________________________ is the most appropriate strategy when the firm simultaneously faces strong pressures for both cost reductions and local responsiveness.

Transnational strategy

4. A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) _______________________.

international strategy

5. Markets are dynamic, and any firm will face competition. In time, international and localization strategies tend to become less viable, and managers need to ________________________________.

orient their companies toward either a global standardization or transnational strategy

Explanation:

When a company's global business activities are coordinated via cooperation and interdependence between its head office, operational divisions, and internationally located subsidiaries or retail outlets, the entity tends to realize more competitive advantages than when it uses a single strategy. This is why the transnational strategy is offering the best alternative for international businesses in the globalized economy.

7 0

3 years ago

Read 2 more answers

Perteet Corporation's relevant range of activity is 3,600 units to 8,000 units. When it produces and sells 5,800 units, its aver

creativ13 [48]

Answer:

Total MFG Overhead $ 20680

Explanation:

Perteet Corporation

Manufacturing overhead consists of Variable manufacturing overhead and Fixed manufacturing overhead.

Variable manufacturing overhead $ 1.40

Fixed manufacturing overhead $ 3.30

Manufacturing overhead per unit $ 4.7

No of units = 4,400

Total MFG Overhead = 4.7 * 4400 = $ 20,680

The manufacturing overhead costs do no not consists of Fixed selling expense, Fixed administrative expense ,Sales commissions and Variable administrative expense. Another way of finding the manufacturing overhead costs is subtracting the cost of direct materials and direct labor from the cost of goods sold.

Cost of Goods Sold $ 14.2

Direct materials $ 6.30

Direct labor $ 3.20

Variable manufacturing overhead $ 1.40

Fixed manufacturing overhead $ 3.30

Total Manufacturing Costs= $ 14.2

Less Direct Materials Cost= $ 6.3

Less Direct Labor Costs = $ 3.2

Mfg Overhead= $ 4.7

No Of Units = 4400

Total MFG Overhead = 4.7 * 4400= $ 20680

6 0

3 years ago