Bill Buckely has​ split-limit 100​/200​/40 automobile liability insurance on his 2012 Subaru. Driving home from work in a​ snowstorm, he hit a​ Mercedes, slid into a​ guardrail, and knocked down a telephone pole. Damages to the​ Mercedes, the​ guardrail, and the telephone pole were ​$33,428​, ​$7,422​, and ​$12,041 respectively. How much will​ Bill's insurance company​ pay? How much will Bill be required to pay​ directly? ​Bill's insurance company will pay ​$nothing. ​(Round to the nearest​ dollar.) The amount Bill will be required to pay directly is ​$nothing. ​(Round to the nearest​ dollar.)

Answers

Answer 1
Answer:

Answer:

  • Bill's insurance company will pay $40,000
  • The amount Bill will be required to pay directly is $12,891

Explanation:

A Split limit works thus;

The first figure which is 100 is the maximum amount that will be paid per one injured person.

The second figure is 200 and it is the maximum amount that will be paid out for all injured persons.

The third which is 40 is the maximum amount the insurance will pay out for property damage.

Bear in mind that all these figures are in thousands.

The damages to all the property involved is = 33,428 + 7,422 + 12,041

= $‭52,891‬

The Insurance company will therefore payout the maximum amount of $40,000.

The rest will be paid by Bill which is = 52,891 - 40,000

= $12,891


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The makers of Whirlpool washers and other electrical appliance manufacturers need to be concerned about the kind and availability of electricity in the global marketplace. If there were a compatibility problem, it would be the result of a _____________difference. a. technological b. cultural c. societal d. economic
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Parent company X and subsidiary company Y file a calendar year consolidated federal income tax return. Company X reported a $120,000 tax loss, which included a $10,000 dividend from Y. Company Y reported $140,000 of taxable income, which included $30,000 of dividends received from less than 20% owned stock investments. Neither company took into account any applicable dividends received deduction. What is the group's consolidated tax loss for the year

Answers

Answer:

The adjusted tax loss of the group is $11000

Find detailed computation in the attached spreadsheet.

Explanation:

The the tax loss of the of parent company X needs to be adjusted for inter-company dividends of $10000.By eliminating the dividends,the loss becomes $130,000.

On other hand,the profit of company Y needs to be adjusted as well for 70% dividends-received deduction,by eliminating 70% of $30000 dividends received, which amounts to $21000.

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On aggregation, the adjusted tax loss of parent and adjusted taxable income of subsidiary gives $11000 tax loss.

A small office building produces NOI of $8,995 per year. We intend to buy the property, if the price is right, and hold it for four years. At that time (EOY 4) we believe we can sell the property for $197,000. If we require an 8% ROA, what is the most we should pay now for this investment?A. The NPV is negative, so reject the investment.
B. The NPV is positive, so invest.
C. The NPV is greater than the NOI, so invest.
D. The GPI is greater than the NOI, so invest.
E. The NPV is greater than the OPX, so invest.

Answers

Answer:

Option B is correct.

The NPV is positive, so invest.

Explanation:

Year Cash Flow

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1            8995

2             8995

3             8995

4           205995

$13,512.46

What if, instead of making jet fighter experience a requirement to become an astronaut, NASA instead offered higher salaries to astronauts with jet fighter experience than to those who did not have jet fighter experience

Answers

Answer:

In this situation, most of the NASA workforce would still be composed of austronauts with jet fighter experience because they would be lured by the higher wages offered to them.

However, the difference would lie in that there would also be some austronauts without jet figther experience, who would still try to get into NASA, despite being offered lower wages.

This is a different situation to the current one, where jet fighter experience is an requirement to become a NASA austronaut, which means that those without this type of experience are barred from entering NASA, no matter how low of a wage they would be willing to take.

Final answer:

Offering higher salaries to astronauts with jet fighter experience may attract more qualified candidates with these skills, as these prepare them for the extremes of space travel. Yet, this could create salary disparity and undervalue other essential astronautical skills and experience.

Explanation:

If NASA were to revise their hiring strategy and offer higher salaries to astronauts with jet fighter experience, it might increase the number of qualified applicants with this specific type of experience. Jet fighter experience and the associated G-force training in simulators is highly valuable in the space industry as it prepares individuals for the extreme forces experienced during space travel. Furthermore, adapting to zero G (free fall or weightlessness), another specific aspect of astronaut training, could be an easier transition for those with jet fighter background.

However, this kind of strategy might create a salary disparity among astronauts, potentially leading to dissatisfaction among those without jet fighter experience. It's important to remember that there are many valuable skills and experience required in space exploration, not just those gained through jet fighter training. Higher salaries based purely on jet experience might overlook other important attributes and qualifications.

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Wellington Recycling recycles newsprint, cardboard, and so forth, into received packaging materials. For the coming year, Wellington estimates total manufacturing overhead to be $359,640. The managers are not sure if direct labor hours (estimated to be 9,990) or machine hours (estimated to be 7,982 hours) is the best allocation base to use for allocating manufacturing overhead. Wellington bids for jobs a 31 % markup over total manufacturing cost.After the new fiscal year began, Hollings Paper Supply asked Wellington Recycling to bid for a job that will take 1 ,975 machine hours and t ,700 direct labor hours to produce. The direct labor cost this will be $10 per hour, and the direct materials will total S25,500.

Required:
Compute the total job cost and price if Wellington decided to use direct labor hours as the manufacturing overhead allocation base for the year.

Answers

To calculate the total Job Cost, it is required to add direct Materials with direct Labor and applied overhead.

Computation total job cost

Although when before that first determine the predetermined overhead cost which is

Then = Estimated total manufacturing cost ÷ estimated labor hours

Then = $359,640 ÷ $9,990

After that = $36 per hour

Now the total cost is

  1. Then = Direct material + direct labor + manufacturing overhead
  2. Now, = $25,500 + 1,700 × $10 +  $1,700 × $36
  3. After that = $25,500 + $17,000 + $61,200
  4. Then = $103,700

 Now the bid price is

  1. Then = Job cost - markup profit
  2. Now = $103,700 - $103,700 × 31%
  3. Then = $103,700 - $32,147
  4. Then = $135,847

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Answer and Explanation:

The computation is shown below:

But before that first determine the predetermined overhead cost which is

= Estimated total manufacturing cost ÷ estimated labor hours

= $359,640 ÷ $9,990

= $36 per hour

Now the total cost is

= Direct material + direct labor + manufacturing overhead

= $25,500 + 1,700 × $10 +  $1,700 × $36

= $25,500 + $17,000 + $61,200

= $103,700

Now the bid price is

= Job cost - markup profit

= $103,700 - $103,700 × 31%

= $103,700 - $32,147

= $135,847

Larry Bar opened a frame shop and completed these transactions: Larry started the shop by investing $41,100 cash and equipment valued at $19,100 in exchange for common stock. Purchased $180 of office supplies on credit. Paid $2,300 cash for the receptionist's salary. Sold a custom frame service and collected $5,600 cash on the sale. Completed framing services and billed the client $310. What was the balance of the cash account after these transactions were posted?

Answers

Answer:

$44,400

Explanation:

The computation of the balance of the cash account after posting of these transactions are shown below:

= Invested cash amount - cash paid for receptionist's salary + cash collection from sale of frame service

= $41,100 - $2,300 + $5,600

= $44,400

The other items do not involved any cash transactions. Therefore they are not relevant and thus they not considered in the computation part

McBride and Associates employs two professional appraisers, each having a different specialty. Debbie specializes in commercial appraisals and Tara specializes in residential appraisals. The company expects to incur total overhead costs of $378,210 during the year and applies overhead based on annual salary costs. The salaries and billable hours of the two appraisers are estimated to be as follows:Debbie Tara Annual Salary $ 150,000 $ 81,000 Billable Hours 2,000 1,800 The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie and Tara’s services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 20 percent markup.Required:(1) Compute the predetermined overhead rate.(2) Compute the hourly billing rate for Debbie and Tara. (Do not round your intermediate calculations.)

Answers

1. Predetermined Overhead Rate ≈ $160.27

2. Hourly Billing Rate for Tara ≈ $245.73

(1) To compute the predetermined overhead rate, we need to calculate the total cost of services (salary plus overhead) for both appraisers and then divide it by the total billable hours.

Total Overhead Costs = $378,210

Total Salary Costs = Salary of Debbie + Salary of Tara = $150,000 + $81,000

= $231,000

Total Billable Hours = Billable hours of Debbie + Billable hours of Tara

= 2,000 + 1,800

= 3,800

Predetermined Overhead Rate = (Total Overhead Costs + Total Salary Costs) / Total Billable Hours

Predetermined Overhead Rate = ($378,210 + $231,000) / 3,800

Predetermined Overhead Rate = $609,210 / 3,800

Predetermined Overhead Rate ≈ $160.27 (rounded to 2 decimal places)

(2) To compute the hourly billing rate for Debbie and Tara, we'll use the formula:

Hourly Billing Rate = (Total Cost of Services + 20% Markup) / Total Billable Hours

For Debbie:

Total Cost of Services for Debbie = Salary of Debbie + (Predetermined Overhead Rate × Billable hours of Debbie)

Total Cost of Services for Debbie = $150,000 + ($160.27 × 2,000)

Total Cost of Services for Debbie = $470,540.00

Hourly Billing Rate for Debbie = ($470,540.00 + 0.20 × $470,540.00) / 2,000

Hourly Billing Rate for Debbie ≈ $282.32 (rounded to 2 decimal places)

For Tara:

Total Cost of Services for Tara = Salary of Tara + (Predetermined Overhead Rate × Billable hours of Tara)

Total Cost of Services for Tara = $81,000 + ($160.27 × 1,800)

Total Cost of Services for Tara = $369,486.00

Hourly Billing Rate for Tara = ($369,486.00 + 0.20 × $369,486.00) / 1,800

Hourly Billing Rate for Tara ≈ $245.73 (rounded to 2 decimal places)

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Final answer:

The predetermined overhead rate is found to be 163.77%, and the hourly billing rates for Debbie and Tara (including a 20% markup) are $237.40 and $142.44, respectively.

Explanation:

To calculate the predetermined overhead rate, we need to divide the total overhead costs by the total salary costs of both appraisers. In this case:

Total Overhead Costs = $378,210

Total Salary Costs = Debbie's Salary ($150,000) + Tara's Salary ($81,000) = $231,000

Predetermined Overhead Rate = Total Overhead Costs / Total Salary Costs = $378,210 / $231,000 = 1.6377 or 163.77%

To calculate the hourly billing rate for each appraiser, you add their salary cost per hour, the overhead cost per hour, and then mark up the total cost by 20%. For Debbie:

Debbie's Salary per Hour = $150,000 / 2,000 hours = $75

Debbie's Overhead per Hour = 1.6377 × $75 = $122.83

Total Cost per Hour for Debbie = $75 + $122.83 = $197.83

Hourly Billing Rate for Debbie (with 20% markup) = Total Cost per Hour × 1.20 = $197.83 × 1.20 = $237.40

Similarly, for Tara:

Tara's Salary per Hour = $81,000 / 1,800 hours = $45

Tara's Overhead per Hour = 1.6377 × $45 = $73.70

Total Cost per Hour for Tara = $45 + $73.70 = $118.70

Hourly Billing Rate for Tara (with 20% markup) = Total Cost per Hour × 1.20 = $118.70 × 1.20 = $142.44

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