The new manager of the insurance division does not understand how the company can have so many overhead rates for assigning costs to the activities of the company's life insurance underwriters.There is one rate schedule for average assignable costs when agents write standard policies.There is another rate schedule which the agents must complete when they write special policies, and these policies are costed out differently from those that are categorized as standard policies.Required:
a.Why might the company have different costing systems with different overhead rates for the standard and specialized policies?
Definitions:
Employed Mothers
Employed mothers refers to women who participate in the workforce while also fulfilling the role of a mother, balancing professional and familial responsibilities.
Poverty Level
The minimum level of income deemed adequate in a particular country to live on.
Mental Health Issues
Mental health issues refer to a broad range of conditions that affect a person’s mood, thinking, and behavior, including disorders such as depression, anxiety, and schizophrenia.
Unmarried Teenage Mothers
Teenage girls who become mothers while not being legally married.
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