Prepaid Insurance $11,048. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on April 1, 2018, for $8,064. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2019, for $5,000. This policy has a term of 2 years.

total insurance expense 5,188 dollars

insurance expense 5,188 debit

     prepaid insurance       5,188 credit

Explanation:

We calcualte the value of a single month on eahc policy and then multiply by the complete year.

8,064 building policy for 3 years:

value oer month: 8,064/ 36 = 224

expired amount on 2019: 224 x 12 = 2,688

vehicles policy: 5000 for 2 years:

5,000 / 24 = 208.33

expired amount on 2019: 208.33 x 12 = 2,500

total insurance expense 5,188 dollars

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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