Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a manufacturing company prepays its insurance cove

A manufacturing company prepays its insurance coverage for a three-year period. The premium for the...

50.1K

Verified Solution

Question

Accounting

A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $3,000 and is paid at the beginning of the first year. Three-fourths of the premium applies to factory operations and one-fourth applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage?

Product Period

A) $1,000 $0

B) $250 $750

C) $2,250 $750

D) $750 $250

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

SHOW WORK!!!!! Full credit will not be given for answers only. NOTE: for any question asking...

Biology
1.2K views

Male Preconception A male patient arrives for a well visit.  During the visit, he mentions his significant...

Civil Engineering
1.2K views

Design a circular column, using approximate methods, for a factored load of 80 Kips and a factored...

Physics
1.2K views

In one or two sentences describe how the frequencies of the different harmonic patterns are...

Geometry
1.2K views

11 Which assumption Ax 5 would you make to indirectly prove x 5 Cx 5...

Calculus
1.2K views

4 Imagine you are driving a car on a highway and your distances in meters...

Algebra
1.2K views

Consider a scalar valued functiong(W) = 4w?? +6w??+6w??+9w?? of the 22 matrix W = {wij}.(1)...

Algebra
1.2K views

e the graph of y f x to graph the function g x f x...

Algebra
1.2K views

Which of the following values are solutions to the inequality 4 2 4x Answer None...

Accounting
1.2K views

que pasa cuando se me acaban las 20 preguntas y aun faltan dias para se...

Accounting
1.2K views

Hodge Co. exchanged Building 24 which has an appraised value of $4,971,000, a cost of...

Accounting
1.2K views

Vandalay Industries sells a machine on December 31, 2021 for $160,000 that was originally bought...