Let the breakeven volume for machine A be represented by Q. At the breakeven volume,
Total costs = Total Revenue
where,
Total costs = Fixed cost + (Variable cost x Number of units)
Total revenue = Revenue per unit x Number of units
For Machine A:
Total costs = $80,000 + $10Q
Total revenue = $25Q
At the breakeven volume,
Total costs = Total Revenue
$80,000 + $10Q = $25Q
$15Q = $80,000
Q = 5,333.33 units
The breakeven volume for machine A is Between 5300 and 5500 units.
Say you personal a toy shop and want to locate your damage-even point in devices. Your fixed price general is $6,000, your variable charges in step with the unit are $25, and your income fee according to the unit is $50. Plug your totals into the smash-even method to find out your wreck-even factor in gadgets. You need to sell 240 devices to interrupt even.
The break-even factor is the point at which general cost and overall revenue are identical, which means there is no loss or benefit to your small enterprise. In other phrases, you've reached the extent of manufacturing at which the costs of production equal the revenues for a product.
Wreck-even evaluation is an exceptionally useful device for a commercial enterprise and has some great benefits: it suggests how many products they want to promote to ensure earnings. It indicates whether a product is worth promoting or is too volatile. It shows the number of sales the business will make at each degree of output.
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According to the ucc, for the sale of goods that requires shipping, the presumption is that unless stated otherwise, the seller need only deliver the goods to __________ to complete performance.
According to the UCC, in order to complete performance for a sale of commodities that involves shipment, the seller need merely send the products to the common carrier, unless specifically stated otherwise.
Common carriers are those who offer paid transportation of persons or goods and specify that their service is open to the public. Common carriers include companies like shipowners, railroads, airlines, and taxi services, among others.
The Uniform Commercial Code is a collection of laws and regulations that apply to all businesses (UCC). The UCC code was developed in 1953 as conducting interstate business for businesses became more and more challenging due to various state regulations. The Uniform Commercial Code (UCC) provides a standard legal and contractual framework, which is essential since it makes it simpler for enterprises to conduct business with one another.
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based on the management in action case, carnival cruise lines needs to make changes due to covid-19. if they need to make changes that are new to carnival, but not new to the cruise line industry as a whole, what form of change would they be implementing?
The most likely form of change that Carnival Cruise Lines would need to implement due to Covid-19 would be changes to their health and safety protocols.
What is Covid-19?
The infectious condition known as coronavirus illness is caused by the SARS-CoV-2 virus (COVID-19). The majority of virus-infected individuals will experience a mild to mitigate respiratory illness and will recover without the need for special care. However, some people will develop serious illnesses and need to see a doctor. Serious illness is more likely to strike older people and individuals who have underlying medical conditions like cancer, diabetes, cardiovascular disease, or chronic respiratory diseases. COVID-19 can cause anyone to become seriously ill or pass away at any age. Being knowledgeable about the illness and the virus's transmission is the best way to stop or slow down transmission.
This could include anything from increased cleaning and sanitization efforts to changes in the way that food is prepared and served onboard.
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the main difference between pert and cpm is that: part 2 a. pert ignores activity costs. b. cpm assumes activity durations can vary. c. pert employs three time estimates for each activity. d. pert is more accurate than cpm. e. pert assumes that activity durations are known.
The main difference between pert and CPM is that c. pert employs three time estimates for each activity.
Cost per mille (CPM), also called cost per thousand, can be described as a commonly-used measurement in advertising. Cost per mille is the cost an advertiser pays for one thousand views or impressions of an advertisement. Program Evaluation Review Technique (PERT) can be described as a project management planning tool used to calculate the amount of time it will take to realistically finish a project. PERT charts are used to plan tasks within a project — making it easier to coordinate team members and schedule.
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assume that an auditor makes an agreement with a client that the audit fee will be contingent upon the number of days required to complete the engagement. is this a violation of the aicpa code of professional conduct? what is the essence of the rule of professional conduct dealing with contingent fees, and what are the reasons for the rule? question content area bottom part 1 a. no, any contingent fee is allowed through the code of professional conduct provided it is clearly written in the engagement letter. the contingent fees rule states that contingent fees are allowed for audit fee arrangements because this allows the audit firm and the client to have a greater working relationship. b. yes, an audit fee contingent upon the number of days required to complete an engagement is in violation of the contingent fees rule. it states that contingent fees are only allowed for nonattestion services that are performed for non-audit clients. this adheres to the independence between the audit firm and the client. c. yes, no contingent fees are allowed regardless if the fee is based upon the amount of time it takes to complete the audit, or if the fee is contingent upon an opinion. the contingent fees rule prohibits all form of contingent fees when dealing with the relationship between audit firms and clients to ensure the auditors remain independent upon the outcome of the financial statements. d. no, a fee based upon the amount of time it takes to complete an engagement is not a violation. the contingent fees rule prohibits an agreement whereby no fee will be charged for clients receiving assertion opinions unless a specific finding or result is attained, or where the fee is otherwise contingent upon the findings or results of such services. the purpose of the rule is to prevent sacrificing the quality of audits because of the pressure felt by the auditor in producing the required audit outcome.
The correct answer will be (d), audit fee will be contingent upon no. of days required to complete engagement and is not violation of AICPA code of professional conduct.
So, when an auditor enters into an agreement with client in that case A fee based upon the amount of time it takes to complete is not a violation of the contingent fees rule, which states that professional services for clients receiving assertion opinions shall not be offered or rendered under an agreement whereby no fee will be charged unless a specific finding or result is attained, or where the fee is otherwise contingent upon the findings or results of such services.
The purpose of the rule is to prevent sacrificing the quality of audits because of the pressure felt by the auditor in producing the required audit outcome. An example would be the fee being dependent upon the issuance of an unmodified opinion or the obtaining of a loan by a client.
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we measure the risk of a single asset or portfolio by measuring the . standard deviation of returns skew of its return distribution asset's alpha asset's beta
We measure the risk of a single asset or portfolio by measuring the standard deviation of returns. The correct answer is option(a).
Multi-investor capital is combined with single-asset funds to invest in a single security, deal, or acquisition. Managers may decide to chase opportunities using vehicles built to buy a single asset as they continue to explore alternatives beyond conventional strategies and fund structures.
Standard deviation is a metric used in finance that reveals the historical volatility of an investment by comparing it to its annual rate of return.. A large standard deviation indicates a dangerous investment when prices move erratically. Low standard deviation indicates stable prices, which lowers the risk associated with investments.
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when you need to hire a new leader to create a new vision and manage large-scale organizational change, what type of leadership ability should you look for in your new hire?
Transformational Leadership ability should you look for in your new hire.
Transformational leaders recognize a way to inspire, encourage and inspire personnel to perform in ways that create significant alternatives.
The end result is an engaged body of workers that are empowered to innovate and help form an employer's future success.
A transactional leader is a person who values order and shape. they may be possibly to command army operations, control large organizations, or lead global projects that require policies and guidelines to complete targets on time or circulate people and substances in an organized way.
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a firm pursuing will have a strong reason to decentralize decision making. group of answer choices a localization strategy a global standardization strategy a transnational strategy an international strategy
A firm pursuing a localization strategy will have a strong reason to decentralize decision making.
Option A is correct.
Localization strategy:A localization strategy is a unique request strategy in which a company address purchasing habits, client actions and overall artistic differences in each country it works within.
What's the conception of localization?Localization is the adaption of a product or service to meet the requirements of a language, culture or asked population" look- and- feel." A successfully localized service or product is that appears to have been elaborated under the original culture.
Decision making :Decision making is the process of making choices by relating a decision, gathering information, and assessing indispensable judgments . Using a step- by- step decision- making process can help you make further deliberate, thoughtful opinions by organizing applicable information and defining druthers
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southwest airlines began its no frills, no meals strategy in the late 1960s as a direct assault on the major carriers of the day. what type of competitive action does this represent?
The competitive action represent a refinement of an existing strategy, tactical action.
A solid strategic strategy is pointless unless it is accompanied by a tactical action plan. The intellectual process required to design a path of action is known as strategy; it specifies desired goals and why they are vital to the firm. Tactics are particular steps you take to put your strategy into action. We understand the necessity of generating good strategy as strategic growth specialists, but we equally recognize that good plan is pointless if it is not effectively implemented.
Invasion provides the skills and tools to assist you in developing a workable action plan to meet your company's strategic growth goals.
Thus the action represent Tactical action.
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a company defines a problem it wants to solve. then, a data analyst gathers relevant data, analyzes it, and uses it to draw conclusions. the analyst shares their analysis with subject-matter experts, who validate the findings. finally, a plan is put into action. what does this scenario describe?
Here the company is using data driven decision making as the company analyst gathers relevant data and presents it to the subject matter experts before putting a plan into action.
The practise of using data to support your decision-making and confirm an action plan before committing to it is known as data-driven decision-making, or DDDM.
Identify the features, services, and products that clients demand through gathering survey data. To uncover any potential issues that need to be resolved before to a final release, user testing should be conducted to determine how customers are likely to utilise a product or service.
Analyze demographic data changes to identify business possibilities and risks.
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If the market for soccer balls is saturated and the market for soccer nets is open, which combination makes the most sense for Sabrina’s Soccer?
If the market for soccer balls is saturated and the market for soccer nets is open, a combination which makes the most sense for Sabrina’s Soccer is: F.
What is a production possibilities curve?A production possibilities curve (PPC) is also referred to as the production possibilities diagram or the production possibilities frontier (PPF) and it can be defined as a type of chart that is typically used for illustrating the maximum and best combinations of two products that can be produced by a producer (manufacturer) in an economy, if they both depend on these two (2) factors;
Technology is fixed.Resources are fixed.Based on the production possibilities curve (see attachment), we can reasonably infer and logically deduce that the maximum and best combinations that would offer the most sense for Sabrina’s Soccer is option F with 0 for soccer balls and 5 for soccer nets.
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In 2015 target eliminated its pink and blue aisles, and it now sells lines such as a collection of back-to-school clothing, accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of marketing?.
Given that the company has gone ahead to create a situation where they have eliminated the products that would appeal to only one gender, this is regarded as gender neutral marketing.
What is marketing?This is the term that has to do with the ways that the producers of a product would create awareness on the goods that they produce in the market so that they are able to get the consumers that they would need to buy the products.
It is the way that the consumers are able to get to know of the product from the manufacturer.
This is gender neutral marketing given the fact that the company has gone ahead to create a system that their products would not have to stand for a particular gender in the society.
Therefore eliminating it means that all persons have the ability of taking any of the products that they want without the differentiation that comes that a particular product is for a boy 0r a girl.
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complete question
In 2015 Target eliminated its "pink" and "blue" aisles, and it now sells lines such as a collection of back-to-school clothing, accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of marketing?
Answer
Income
Hyperlocal
Lifestyle
Gender-neutral
Age and life-cycle
the following information pertains to springfield inc.: selling price per unit $60 variable costs per unit $40 total fixed costs $120,000 tax rate 21% the sales volume required to obtain a target after-tax profit of $79,000 is:
The required volume sales in order to fulfill a target after-tax profit of $79,000 is 11,000 units.
Suppose x = number of units sold.
Revenue function:
R(x) = selling price per unit × number of units sold.
R(x) = 60.x
Cost function:
C(x) = variable cost + fixed cost
= variable costs per unit × number of units sold + fixed cost
= 40.x + 120,000
Gross profit function:
P(x) = R(x) - C(x)
P(x) = 60x - (40.x + 120,000)
P(x) = 20x - 120,000
Net profit = (1 - tax rate) × Gross profit
NP (x) = (1 - 0.21) × (20x - 120,000)
NP(x) = 0.79 × (20x - 120,000)
NP(x) = 15.8x - 94,800
79,000 = 15.8x - 94,800
15.8x = 173,800
x = 11,000
Hence, the company needs to sell 11,000 units to fulfill the target.
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special pricing, display fixtures, and value-added bonuses are all a part of increasing sales in retail stores. what sort of marketing technique is this?
Trade Promotion is a marketing technique with special pricing, display fixtures, and value-added bonuses that are all a part of increasing sales in retail stores.
Marketing describes the actions a business does to encourage the purchase or sale of a good or service. Affiliates will sometimes provide marketing for a business. Trade promotion describes marketing initiatives carried out in-store by these two partners.
Trade promotion is a marketing strategy that uses special pricing, display fixtures, demonstrations, value-added bonuses, no-obligation freebies, and other incentives to boost product demand at retail businesses. Trade promotions are a tool that businesses can use to raise customer awareness of their brands and products.
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how has the service industry in the u.s. been changing since the 1970s? what were the primary causes of the change and how have they affected manufacturing world-wide? utilize cheaper labor in offshore markets, to help stabilize global trade
The service in the industry in the US has been changing is caused by people pursuing higher education combined with automation taking over the industry. The factor that causes an industry decline is changing consumer preferences and technological innovation that caused high budget deficits.
The 1970s is described as a decade of crisis, with the nadir of a longstanding economic crisis eventually leading to a political crisis in which the country appeared to be ungovernable. Industry decline can be described as a condition that two recessions during the early 1970s saw manufacturing lose 1.5 million and 2 million jobs, respectively, with a recovery period in between. From July 1975 through June 1979 during the period of expansion, manufacturing added 3 million jobs, and employment in the industry stood at 19.6 million.
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creswell corporation's fixed monthly expenses are $23,000 and its contribution margin ratio is 63%. assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $78,000?
The Contribution margin per unit is $49,140 and net operating income 26,140
What is contribution margin?
A gross or per-unit basis can be used to express the contribution margin. It represents the additional revenue made for each product or unit sold after the variable part of the business's costs have been subtracted. The selling price per unit less the variable cost per unit equals the contribution margin. The metric, also known as cents contribution per unit, shows how a specific product affects the company's overall profit. It offers a means of demonstrating the potential for profit of a specific product being offered by a business and displays the percentage of sales that goes toward paying the business' fixed costs. Profit is the amount that remains after fixed expenses have been paid.
Contribution margin = 78,000 x 63%
= 49,140
Net operating income = contribution margin - fixed cost
= 49,140 - 23,000
= 26,140
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lena is scheduling 35 part-time employees to complete a project. of those employees, 1/5 work mornings only, 10 work only afternoons, and the rest alternate between mornings and afternoons. if lena plans on using all of her morning only staff, 1/2 of her afternoon only staff, and 1/3 of her remaining staff, how many people will lena schedule?
If Lena plans on using all of her morning-only staff, 1/2 of her afternoon-only staff, and 1/3 of her remaining staff, Lena will have to schedule only 18 employees.
What is the calculation justifying the above Arithmetic?
Given;
Total number of employees - 35
Morning Shift Employees (1/5) of 35 = 7 Employees
Afternoon Shift Employees = 10
Remaining Staff = 35 - (7 + 10) = 18
If Lena plans on using all of her morning-only staff, and 1/2 of her afternoon-only staff, and 1/3 of her remaining staff then:
Number of Staff to be scheduled =
7 + (1/2 * 10) + (1/3 * 18)
= 7 + 5 + 6
= 18
Hence, Lena will schedule 18 staff or employees.
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this approach often created by non-profits recruits a network of representatives who pitch their wares to customers by going door to door with the primary aim of improving society.
This approach often created by non-profits recruits a network of representatives and is known as micro franchising.
Micro franchising is an enterprise version that applies the rudiments and generalities of conventional franchising to small businesses in the developing internationally. It refers back to the systemization and replication of micro-organizations. Micro franchising is a business version that applies the rudiments and generalities of traditional franchising to small companies in the growing world. It refers back to the systemization and replication of micro-establishments.
A ballot ( or franchising) is a gadget of distributing services or products regarding a franchisor, who establishes the brand's trademark or exchange name and a commercial enterprise system, and a franchisee, who will pay a kingliness and often an original figure for the proper to do business underneath the franchisor's call and system.
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assume that the japanese yen is trading at a spot price of 92.04 cents per 100 yen. further assume that the premium of an american call (put) option with a strike price of 93 is 2.10 (2.20) cents. calculate the intrinsic value and the time value of the call and put options
The premium of an american call (put) option with a strike price of 93 is 2.10 (2.20) cents the time value of the call = 2.10 cents and the time value for put = 1.24 cents
call option There will not be any gain if the Call option is exercised and bought at 93 cents. Because spot price is lower.Hence Intrinsic Value=0
put option With this option , one can buy at spot for 92.04 and SELL for 93Intrinsic Value =(93-92.04)=0.96 centsTime Value =2.20-0.96=1.24 cents
Options contracts are derivatives that grant investors the option, but not the duty, to purchase or sell an underlying security at a predetermined price at a future date. The option's strike price is this amount (or exercise price). The striking price for a put option is the price at which the security may be sold; for a call option, it is the price at which the option holder may purchase the asset.
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Fred and wilma enter into a contract for horse riding lessons. Fred accidentally types the price for lessons to be $4. 00 each instead of $44. 00 each. Wilma wishes to enforce the contract at $4. 00 per lesson. Which remedy would be most effective?.
As one party accidentally types the price for lessons to be $4.00 each instead of $44.00 each which makes other other party wishes to enforce the contract at $4.00 per lesson, the remedy that would be most effective for this case is rescission.
What is the meaning of rescission?In contract law, the term "rescission" means an equitable remedy which allows the griefing contractual party to cancel the contract. In certain case, a parties may rescind if they are the victims of a vitiating factor such as misrepresentation, mistake, duress, undue influence etc.
So, the remedy called a "rescission" serves as the unwinding of a transaction, that is, it done to bring the parties back to the position in which they were before they entered into a contract (known as status quo ante).
When rescission takes place in a contract, such contract is rendered null and void and so is no longer recognized as legally binding. So, the ruling courts can free non-liable parties from their agreed obligations and will effectively seek to restore them to the position they were in before the contract was signed.
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If a country runs current account deficits from year to year then, all else equal, its net foreign assets will.
If a country runs current account deficits from year to year then, all else equal, its net foreign assets will Falls/ decreases by the same amount in all years.
The difference between a sum and a benchmark amount is referred to as a deficit. The amount by which spending exceeds income during a specific period of time is known as a budget deficit, usually referred to as a simple deficit. This is the polar opposite of a budget surplus. The phrase can be used to describe a person's, a company's, or a government's budget. A country's net foreign asset (NFA) position is calculated as the value of its foreign assets less the value of its domestic assets held by foreigners. The amount of debt a country has is reflected in its net foreign assets position.
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Barter is a system of exchange. Which Statement does NOT reflect the
barter system?
Answer:
exchanging goods for money
shelby company has a beta of 1.05, the expected return on the market is 10 percent, and the risk-free rate is 3.8 percent. what is the expected return for shelby stock?
Expected return is 10.31%. Shelby company will find the expected return for stock with the help of Capital Asset Pricing Model (CAPM).
There is a formula provided by the Capital Asset Pricing Model that may be used to determine the anticipated rate of return from a common stock. Return expected = Risk-free rate + {Beta * (Market return - Risk-free rate)}
Return expected = 3.80% + {1.05 * (10% - 3.80%)}, Return expected = 3.80% + (1.05 * 6.20%), Return expected = 3.80% + 6.51%, Return expected = 10.31%. Hence, the expected return of the common stock will be 10.31 percent.
The association among systemic risk, or the general dangers of trading, and expected return for investments, particularly equities, is described by the Capital Asset Pricing Model (CAPM). The CAPM was created as a tool to quantify this systematic risk.
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Most companies compute the materials price variance when raw materials are _______.
Most companies compute the materials price variance when raw materials are purchased.
A material price variance occurs when the actual price paid for materials used in manufacturing differs from the standard price for the materials (MPV). The material price variance will be advantageous if the actual cost of the materials is less than the benchmark cost.
However, if the price paid for the materials is greater than the benchmark price, the Material Price Variance will be negative.
An increase in price, variations in transportation costs, changes in the amount of the order, changes in the quality of the materials being purchased, and other factors are only a few of the causes of a material price variation.
Hence the price variance is computed for purchased materials.
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Wallace has decided that he wants to move on from his entrepreneurial business and take his financial profits from his hard work. This is an example of ________.
Wallace has decided that he wants to move on from his entrepreneurial business and take his financial profits from his hard work. This is an example of harvesting.
What is entrepreneurial business?Entrepreneurship is the process of producing or removing economic value. With this definition, entrepreneurship is considered as change, typically involving risk above and above what is typical when beginning a business, and maybe involving values other than just economic ones.
The process of creating, setting up, and managing a new business in order to make money while taking on financial risk is essentially what is meant by the term "entrepreneurship."
"Entrepreneurship is the development of novel, creative ideas that can advance both the economic and social conditions of society. It fosters the entrepreneurial spirit necessary for success by assisting people in developing ideas that can address societal issues. It entails being free from the worry of failing to pursue your passions.
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which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units?
Corporate strategy specifies the firm's overall direction in terms of its general orientation toward growth.
What's corporate strategy?When easily defined, a corporate strategy will work to establish the overall value of a business, set strategic pretensions and motivate workers to achieve them. It's a nonstop process that should be precisely acclimatized to respond meetly to changing conditions in the business.
What does corporate strategy handle?
A corporate strategy is a plan that helps an association decide what markets it wants to enter and how. Businesses frequently use corporate strategies when they're trying to diversify, or enter a new request. This strategy attendants a company's growth. A corporate strategy department functions as a coordinating body, developing and enforcing strategies that satisfy the objects of individual departments as well as promoting overall corporate aims
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Samantha had never traveled to new york city before, but she had been on a recent business trip to houston. when she learned that the hotel room she wanted in new york city cost $300 per night, she was shocked because she thought the hotel rooms would be priced similarly to those in houston. this is an example of the bias.
Samantha was shocked because she thought hotel rooms would priced similar to those in Houston This is an example of anchoring and adjustment bias.
Anchoring and adjustment is a cognitive heuristic where a person starts off with an original idea and adjusts their beliefs grounded on this starting point. Anchoring and adjustment have been shown to produce incorrect results when the original anchor deviates from the true value.
What's the meaning of anchoring bias?Anchoring bias is a cognitive bias that causes us to calculate too heavily on the first piece of information we're given about a content. When we're setting plans or making estimates about commodity, we interpret newer information from the reference point of our anchor, rather of seeing it objectively.
What's anchoring and adjustment bias illustration?For illustration, a habituated auto salesperson( or any salesperson) can offer a veritably high price to start accommodations that are arguably well above the fair value. Because the high price is an anchor, the final price will tend to be advanced than if the auto salesperson had offered a fair or low price to start.
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the theory of the cash t is that if a taxpayer's expenditures during a given year exceed reported income, and the source of the funds for such expenditures is unexplained (e.g., taxpayer had no loans or nontaxable sources of income), such excess amount represents unreported income.
It is true that the theory of the cash t is that if a taxpayer's expenditures during a given year exceed reported income, and the source of the funds for such expenditures is unexplained.
The cash flow theory states that if a taxpayer's outlays for a particular year exceed reported income and the source of the funds for those outlays is unclear (for example, the taxpayer had no loans or nontaxable sources of income), then the excess amount is likely unreported income.
A taxpayer is a person or a company that must pay taxes to the federal, state, or municipal governments. Governments mostly derive their income from taxes on both citizens and businesses.
The amount of money needed to start a project or make a purchase is known as the outlay. Dishwashers can genuinely help you save money, aside from the initial investment in the equipment. Synonyms include expense, cost, spending, and charge. further outlay synonyms.
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sp corp purchases $40,000 of inventory during the period and sells $36,000 of it for $60,000. beginning of the period inventory was $6,000. what is the company’s inventory balance to be reported on its balance sheet at year end?
The inventory balance at year's end that must be disclosed on the balance sheet is $10,000.
Explanation:
Ending inventory is calculated as Opening Inventory + Purchases - Sales.
Calculating and reporting the inventory balance for the year
To access the inventory, $6000 would be required.
Increase in inventory buys ($40,000)
Sales fall off at the $36,000 cost of inventory
Closing inventory will therefore be noted as follows at the year's end:
The closing inventory is made up of $6,000 + $40,000 less $36,000, or $10,000.
$10,000 Final Inventories
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fare industries pays salaries and wages every two weeks. salaries and wages amount to $180 a day and the company has a seven-day work week. on july 31, the company pays wages for the two weeks ending july 24 and recorded the related journal entry. the adjusting journal entry, dated july 31, to record unpaid wages and salaries owed since july 25 through the end of the month will include a debit to:
Answer:
Explanation:
Salaries and Wages Expense and a credit to Salaries and Wages Payable for $1,260.
true or false: alternatively, the lacostes could have estimated their life insurance needs using the multiple-of-earnings method, a more complicated but more accurate method than the needs analysis.
True, alternatively, the Lacostes could have estimated their life insurance needs using the multiple-of-earnings method, a more complicated but more accurate method than the needs analysis.
Many people use the "multiple of earnings" method to determine an adequate sum of life insurance. Conventionally, a woman getting paid $60,000 annually might calculate that she requires ten times her salary, or $600,000. Whereas this method is simple, it does have limitations if the multiples are too small. The goal of having life insurance with the earnings multiple approach is earnings replacement. This strategy aims to replace a breadwinner's annual salary stream for a specified number of years, until the children are grown and the partner is economically solvent and retired.
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