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3 years ago

What is the definition of insurance

Business

1 answer:

jeyben [28]3 years ago

6 0

Answer:

an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.

"many new borrowers take out insurance against unemployment or sickness"

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The purchasing agent of an organization acquired some raw materials at a bargain price, even though she knew that their quality

pshichka [43]

Answer:

So a favorable material price variance might be more than offset by an adverse usage variance

Explanation:

Material price variance

A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favourable variance is recorded where the actual total cost of materials of a given quantity is lower that the standard cost. While an adverse variance implies the opposite

Material usage variance

A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite

Relationship between Usage variance and Price variance

Where savings are made from purchase of cheap and inferior quality materials these might lead to an adverse usage variance by a greater value .This is so because workers might need to use a larger quantity ( more than the standard required) of a low-quality materials to achieve production.

So a favourable material price variance might be more than offset by an adverse usage variance

5 0

4 years ago

Read 2 more answers

sosa company has $39 per unit in variable costs and $1,900,000 per year in fixed costs. demand is estimated to be 138,000 units

satela [25.4K]

Managerial accounting is used to give relevant information to people within a company, mostly management, to aid them in making more informed business decisions. Financial accounting is used to generate financial statements that benefit external users.

Annual fixed cost is $1,900,000.

Producing 138,000 units annually

Fixed cost per unit is $13.77 divided by 1,900,000 units.

$39 is the variable cost per unit.

Fixed cost per unit plus variable cost per unit equals total cost per unit ($13.77 + $39 = $52.77 per unit).

Markup equals Total Cost * 35% (52.77 * 35% = $18.47),

Sale price equals total costs plus a markup of 52.77 plus 18.47, or $71.24.

Any expenses that vary according to how much a business produces and sells are considered variable costs. Contrarily, fixed costs are those outlays that don't change regardless of how much a business produces.

To know more about variable costs, click here:-

brainly.com/question/27853679

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3 0

1 year ago

Would simple interest or compound interest grow a person investment better? Explain.

Evgesh-ka [11]

Answer:

Compound interest is better.

Explanation:

When it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate. Compound interest comes into play when you're calculating the annual percentage yield. That's the annual rate of return or the annual cost of borrowing money.

6 0

2 years ago

The balance in Discount on Bonds Payable that is applicable to bonds due in three years would be reported on the balance sheet i

tankabanditka [31]

The balance in Discount on Bonds Payable that is applicable to bonds due in three years would be reported on the balance sheet in the section entitled of Long-term liabilities.

What is Long-term liabilities?

Long-term liabilities can be regarded as loans aa well as other financial obligations that the repayment schedule would be expected to last over a year.

Some of the examples long-term liabilities are;

deferred revenues
post-retirement healthcare liabilities.
bonds payable
long-term loans
pension liabilities

It should be noted that balance in Discount on Bonds Payable that has a due time of three years would be reported at Long-term liabilities section.

Learn more about Long-term liabilities at:brainly.com/question/25596583

4 0

3 years ago

Which sentence from the scarlet lbis is foreshadowing

ehidna [41]

Hello.

A sentece that was forshowdowing was

The last graveyard flowers were blooming, and their smell drifted [through] our house, speaking softly the names of our dead."

Have a nice day

5 0

3 years ago