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cluponka [151]
3 years ago
12

Underwriting is best described as __________. activities related to selecting acceptable risks so that general insurer objective

s are met actuarial science production-related activities performed primarily by agents in the field a function most often performed by adjusters
Business
1 answer:
just olya [345]3 years ago
4 0
The correct answer is letter a. Activities related to selecting acceptable risks so that general insurer objectives are met. Underwriting is best described as "<span>Activities related to selecting acceptable risks so that general insurer objectives are met."</span>

Here are the choices
a. Activities related to selecting acceptable risks so that general insurer objectives are met.
b. Actuarial science
c. Production-related activities performed primarily by agents in the field
d. Process of developing pricing structures for insurance, often performed by an actuary
e. A function most often performed by adjusters
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Standard costs are used in companies for a variety of reasons. Which of the following is not one of the benefits of using standa
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Answer:

c. used to indicate where changes in technology and machinery need to be made

Explanation:

Standard Costs are established through past experiences and hence they can be used to control costs, and plan production schedules.

Changes in technology and machinery need to be made is part of perfomance management with a future outlook.

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In PowerPoint, where do you enter data for a chart?
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Spencer Inc. applies overhead to production at a predetermined rate of 80% based on direct labor cost. Job No. 130, the only job
Romashka [77]

Answer:

Direct material= $5,600

Explanation:

<u>First, we need to calculate the direct labor added to Work in Process:</u>

Direct labor= allocated overhead / predetermined overhead rate

Direct labor= 6,400 / 0.8

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Direct material= Ending balance - allocated overhead - direct labor

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3 0
3 years ago
Zhao Co. has fixed costs of $429,000. Its single product sells for $187 per unit, and variable costs are $122 per unit. If the c
otez555 [7]

Answer:

$635,000 and : 34%

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Margins of safety is the difference between expected sales and the break-even point.

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fixed costs = $429,000

Contribution margin per unit = selling price - variable costs per unit

=$187 -  $122

=$65

break-even point in units = $429,000/$65

break-even point = 6600 units

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=3400 units

In dollars is equal to margin of safety in units x selling price

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4 0
2 years ago
Wayman Corporation reports the following amounts in its December 31, 2021, income statement.
MrRissso [65]

Answer:

                          Wayman Corporation

                  Multiple-step income statement

Sales                                                              $425,000

Less: Cost of goods sold                              <u>$135,000</u>

Gross Profit                                                    $290,000

Operating Expenses

Salary Expenses                   $45,000

Utility Expenses                    $55,000

Advertising Expenses          <u>$35,000</u>

Total Operating Expenses                             <u>($135,000)</u>

Net Operating Income                                   $155,000

Other Income and Expenses

Interest expense                                               <u>$25,000</u>

Net Income before Tax                                   $130,000

Income tax expense                                         <u>$55,000 </u>

Net Income                                                       <u>$75,000</u>

6 0
3 years ago
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