Final answer:
There is insufficient information provided to calculate the expired insurance for the fiscal year. Data given lacks the necessary breakdown of prepaid insurance periods and the corresponding expense allocation over those periods.
Step-by-step explanation:
It seems there may be a miscommunication. Based on the data provided, there isn't enough information to determine the amount of expired insurance as an administrative expense for the fiscal year. The listed figures do not contain clear references to insurance premium allocations over time and the total amount of premiums paid by drivers is unrelated to the fiscal year insurance expense for a business. Additionally, the premiums and other financial figures listed do not provide a breakdown that would allow us to calculate the expired portion of prepaid insurance that would be classified as an administrative expense.
Understanding expired insurance requires knowledge of the initial insurance payment and the period it covers. It also necessitates a schedule that outlines how much of the prepaid insurance has been expensed per accounting period. The administrative expense in question typically arises when insurance paid in advance covers a period extending beyond the current fiscal year; the portion that covers the subsequent period remains as a prepaid insurance asset on the balance sheet, while the portion applicable to the current fiscal year is expensed.