Mpurchases a $70,000 life insurance policy with premium payments of $550 a year for the first 5 years. at the beginning of the sixth year, the premium will increase to $800 per year but will remain level thereafter. the face amount will remain at $70,000 throughout the life of the policy. the type of policy that m has purchased is?
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Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)
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Mpurchases a $70,000 life insurance policy with premium payments of $550 a year for the first 5 year...
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