Answer and Explanation:
The computation is shown below
a. The cost of goods manufactured is
Materials used in product $130,300
Labor costs of assembly-line workers 116,100
Depreciation on plant 62,500
Property taxes on plant 24,300
Factory supplies used 34,000
Work in process inventory at January 1 $14,400
Less: Work in process inventory at december 1 -$17,600
Cost of goods manufactured $364,000
b. The cost of goods sold is
= Opening finished goods + cost of goods manufactured - ending finished goods
= $61,100 + $364,000 - $48,500
= $376,600
A restaurant is for sale for $200,000. It is estimated that the restaurant will earn $20,000 a year for the next 15 years. At the end of 15 years, it is estimated that the restaurant will sell for $350,000. Which of the following would be MOST LIKELY to occur if the investors required rate of return is 15 percent?
a. Investor would pursue the project
b. Investor would not pursue the project
c. Investor would pursue the project if the holding period were longer than 15 years
d. Not enough information provided
Answer:
B
Explanation:
to determine of the investor would pursue the project, we need to determine the value of the net present value
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.
When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.
Cash flow in year 0 = $-200,000
Cash flow in year 1 - 14 = 20,000
Cash flow in year 15 = 20,000 + $350,000
I = 15%
NPV = -40,039.53
The npv is negative and the project should not be undertaken
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
-40,039.53
The following is TRUE about Inventory: A. Firms increase inventory because more inventory means more movement of materials B. Firms increase inventory because there are price discounts or transportation discounts associated with ordering in larger quantities C. Firms increase inventory because there is an opportunity cost to holding inventory D. Firms increase inventory because more inventory sitting for longer periods of time present more opportunities for damage, errors, rework, theft, and obsolescence E. Firms increase inventory because the more we spend on inventory, the more we need to spend on other inventory-related expenditures
Answer:
The answer is "Option C".
Explanation:
Firms could already retain excessive stock in a position to take account of lower pricing provided by suppliers and to fill a full truckload, which lowers shipping costs per unit. Anything else, holding a lot of inventory makes no sense; therefore, firms increase inventory as there is an economic benefit to storage.
How to choose scented candles online?
One reason why firms might want to pursue a strategic alliance strategy is to exploit
economies of scale. Exploiting economies of scale should reduce firm’s costs. Does this
mean that a firm pursuing an alliance strategy to exploit economies of scale is actually
pursuing a cost leadership strategy? Why or why not? Support your answer
So, a strategic alliance may benefit the combined group in two ways: one, it will enable them to target larger clients without facing significant rivalry
Economies of scale, which are commonly assessed by the quantity of product provided per unit of time, seem to be the cost savings that businesses gain as a result of the significant scale of the economy.
In order to lower manufacturing costs, economies of scale is the method of producing any good at a very high volume. Strategic alliances allow two businesses to more effectively merge their operations.
It will enable them to lower costs through economies of scale. Additional benefits of economies of scale include lower prices for goods or cost focus in the marketplace.
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Working with people includes careers such as child care workers, social workers, and doctors.
O True
False
Answer:
I think false
Explanation:
because basta
What are two features of a discussion forum?
A.connects people based on location
B.hosts videos about events or activities
C.creates networks of people with common interests
D.provides quick, short messages to the public
E.facilitates posting questions that people can answer
Answer:
C. creates networks of people with common interests
E. facilitates posting questions that people can answer
Answer:
C & E
Explanation:
plato
Justin Company's budget includes the following credit sales for the current year: September, $40,000; October, $51,000; November, $45,000; December, $47,000. Credit sales are collected as follows: 15% in the month of sale, 60% in the first month after sale, 20% in the second month after sale, and 5% is uncollectible. How much cash can Justin expect to collect in November as a result of current and past credit sales
Answer:
$45,350
Explanation:
Follow the Company`s collection history to determine the November Cash Collection.
November Cash Collection :
Collected in month of sale - 15% x $45,000 $6,750
Collected for 1st month after sale - 60% x $51,000 $30,600
Collected for 2nd month after sale - 20% x $40,000 $8,000
Total $45,350
Therefore,
The cash Justin can expect to collect in November is $45,350
Question
You are International Business Manager at a UK based company. Your company has identified USA and Europe as potential markets and wish to expand asap and plans a full-scale expansion. You are requested to analyse both projects and advise.
In considering such large project, you must work out the risk of each project, cost of capital and NPV. Allocate discount rate for each project according to current international business climate and justify why you allocated the discount rate for each region. Discuss how you aim to manage international risks.
Projected cash flows in respective currencies:
Year Net Cash Flow – USA USD Net Cash Flow - Europe EUR
0 -20 million -20 million
1 2 million 2 million
2 4 million 3 million
3 5 million 4 million
4 6 million 8 million
5 8 million 8 million
Instructions:
a. Briefly discuss viability of both projects in today’s global business context. Based on your discussion allocate and justify discount rate for both projects. (30 Marks)
b. How much investment (GBP) is needed for each project and what is the NPV of each project? Use spot and forward exchange rates to discuss. (30 Marks)
c. Considering current world economic climate, the future exchange rates are uncertain. How would you analyse/anticipate the change in exchange rates? Write a brief proposal to mitigate impact of possible exchange rate fluctuations (30 Marks)
d. Discuss your calculations and advise which project should be selected. (10 Marks)
(Total up to 1000 words + calculations = 1500 Words)
Answer:
a. Viability of both projects in today’s global business context:
In order to determine the viability of expanding into the USA and Europe, it is important to consider the current global business context. One factor to consider is the economic climate in each region. If the economy is strong and growing, it may be a good time to expand as there may be more demand for the company's products or services. On the other hand, if the economy is struggling or in a downturn, it may be more risky to expand as there may be less demand for the company's products or services.
Another factor to consider is the competitive landscape in each region. If the market is already saturated with similar products or services, it may be more difficult for the company to break into the market and achieve success. On the other hand, if there is less competition or a gap in the market, the company may have a better chance of success.
Based on the projected cash flows for each region, it appears that both the USA and Europe could be viable markets for the company to expand into. The projected cash flows for both regions show steady growth over the next five years, indicating potential demand for the company's products or services. However, without further information on the economic and competitive landscape in each region, it is difficult to fully assess the viability of each project.
In terms of allocating a discount rate for each project, the discount rate is used to determine the present value of the projected cash flows. A higher discount rate indicates a higher level of risk, and therefore a lower present value of the projected cash flows. A lower discount rate indicates a lower level of risk, and therefore a higher present value of the projected cash flows.
Given the information provided, it is difficult to determine the specific discount rate that should be applied to each project. However, some factors to consider in allocating the discount rate for each region could include the economic climate, the level of competition, and any specific risks associated with expanding into each region. For example, if the economic climate in the USA is stronger than in Europe, or if there is less competition in the USA, the discount rate for the USA expansion project may be lower than the discount rate for the Europe expansion project.
b. Investment and NPV of each project:
To determine the investment needed for each project, we need to first convert the projected cash flows for each region into GBP using the current spot exchange rate. We can then use these converted cash flows to calculate the NPV of each project using the allocated discount rate.
Assuming the current spot exchange rate for USD to GBP is 0.78, and the current spot exchange rate for EUR to GBP is 0.87, the projected cash flows for each region in GBP would be as follows:
Year Net Cash Flow - USA (GBP) Net Cash Flow - Europe (GBP)
0 -15.6 million -17.4 million
1 1.6 million 1.7 million
2 3.2 million 2.6 million
3 4.0 million 3.5 million
4 4.8 million 6.9 million
5 6.4 million 6.9 million
To calculate the NPV of each project, we need to allocate a discount rate for each region. As mentioned previously, the specific discount rate will depend on the economic and competitive landscape in each region, as well as any specific risks associated with expanding into each region.
For the purposes of this analysis, let's assume a discount rate of 8% for the USA expansion project and 10% for the Europe expansion project. Using these discount rates, the NPV of each project would be as follows:
The current global business environment must be taken into account when evaluating whether expanding into the USA and Europe will be profitable.
What is discount rate ?The state of each region's economy should be taken into account. If the economy is robust and expanding, it might be a good idea to grow because there might be higher demand for the firm's goods or services. On the other hand, if the economy is struggling or going through a downturn, expanding your business could be riskier because there might be less of a market for your company's goods or services.
The level of competition in each region is another thing to take into account. It could be more challenging for the business to succeed if the market is already saturated with comparable goods or services.enter the market and succeed. On the other hand, the company may have a better chance of success if there is less competition or a gap in the market.
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Laws passed by legislatures are called
Ordinances
Precedent laws
Statutory laws
Common laws
Answer:
yes they are called ordinance which is used to govern a group of people
The following is a partially completed departmental expense allocation spreadsheet for Brickland. It reports the total amounts of direct and indirect expenses for its four departments. Purchasing department expenses are allocated to the operating departments on the basis of purchase orders. Maintenance department expenses are allocated based on square footage. Compute the amount of Maintenance department expense to be allocated to Fabrication. (Do not round your intermediate calculations.) Purchasing Maintenance Fabrication Assembly Operating costs $ 35,000 $ 19,800 $ 99,000 $ 65,000 No. of purchase orders 16 4 Sq. ft. of space 3,450 2,5
Answer:
$8,319
Explanation:
Computation for the amount of Maintenance department expense to be allocated to Fabrication
First step is to calculate the total sum of square foot space
Using this formula
Total sum of square foot space = Fabrication square foot space + assembly square foot space
Let plug in the formula
Total sum of square foot space= 3,450 + 2,500
Total sum of square foot space= 5,950
Now let calculate the amount of Maintenance department expense to be allocated to Fabrication
Maintenance department expense = $ 19,800 × 2,500 ÷ 5,950
Maintenance department expense = $ 19,800 × 0.42017
Maintenance department expense = $8,319
Therefore the amount of Maintenance department expense to be allocated to Fabrication is $8,319
Which of the following best describes a way to use your website to improve the guest experience?
A personal call to the room after check-in to welcome guests
Easy-to-navigate menus with clear shortcuts for booking
Opportunities to accumulate user-generated content
Use of digital key cards for contactless check-in and room entry
The most effective strategy to use your website to enhance the visitor experience is to provide opportunities for user-generated material to gather. As a result, choice (C) is appropriate.
What is meant by guest experience?The interactions you have with your visitors from the time they arrive until they check out are referred to as the guest experience. This phrase is frequently used in the hospitality sector to describe how well your customers are treated.
A positive guest experience is at the very heart of hospitality. Additionally, it should be a key component of your hotel's operations since, if done well, it will encourage clients to leave favorable internet reviews and even become devoted regulars.
Hence, option (C) is accurate.
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Process or Sell Product A is produced for $3.32 per pound. Product A can be sold without additional processing for $4.25 per pound or processed further into Product B at an additional cost of $0.4 per pound. Product B can be sold for $4.56 per pound. Prepare a differential analysis dated November 15 on whether to sell A (Alternative 1) or process further into B (Alternative 2). If required, round your answers to the nearest whole dollar. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Answer and Explanation:
The preparation of the differential analysis is presented below;
Particulars Sell product A Product B further Difference
Revenue
per pound $4.25 $4.56 $0.31
Cost per pound $3.32 $3.72 $0.4
($3.32 + $0.4)
Income cost
per pound $0.93 $0.84 -$0.09
So it would be sell off as the firm would be facing a loss of $0.09 per pound
Education has no effect on income potential.
True
False
On a business's income statement, inventory affects
On a business's income statement, inventory affects the balance of retained earnings on the statement of retained earnings.
What is income ?Income refers to the consumption and savings opportunity that a business captures within a specific time duration.Income is difficult to define conceptually and its definition varies from region to region. The term "revenue" generally refers to the transfer of money, property, and other value received over a period of time in exchange for services or products. Income is defined according to the context in which the term is used. At the most basic level, income can be categorized as the money a person makes. Income can be received from a variety of areas. Wages, dividends, self-employment, etc. Income can be divided into two main categories: taxable income and non-taxable income.To learn more about income from the given link :
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Answer: net income
Explanation: just took the quix
Classify each of the following as a(n) Operating Activity, Investing Activity, or Financing Activity. 1. Issuance of bonds. select a type of activity 2. Sale of equipment. select a type of activity 3. Amortization expense. select a type of activity 4. Purchase of treasury stock. select a type of activity 5. Receipt of dividends on investment. select a type of activity 6. Purchase of land. select a type of activity
Answer:
1. Issuance of bonds
Cash-flow classification: Financing activity
2. Sale of equipment
Cash-flow classification: Investing activity
3. Amortization expense
Cash-flow classification: Operating activity
4. Purchase of treasury stock
Cash-flow classification: Financing activity
5. Receipt of dividends on investment
Cash-flow classification: Operating activity
6. Purchase of land
Cash-flow classification: Investing activity
Lincoln Corporation, a U.S. corporation, owns 50% of the stock of a controlled foreign corporation (CFC). At the beginning of the year, Lincoln's basis in its CFC stock was $100,000. The CFC's current-year income was $1 million, $600,000 of which was subpart F income. The CFC has no global intangible low-taxed income, paid no foreign income tax and distributed no dividends. How much current taxable income must Lincoln report as a result of its ownership of the CFC
Answer:
$300,000
Explanation:
Calculation to determine How much current taxable income must Lincoln report as a result of its ownership of the CFC
Using this formula
Taxable income=Subpart F income * Ownership percentage
Let plug in the formula
Taxable income=$600,000*50%
Taxable income=$300,000
Therefore The amount of current taxable income that Lincoln must report as a result of its ownership of the CFC is $300,000
why microeconomics is useful in business decision making? Explain
Explanation: The study of microeconomics helps the decision makers to analyze and determine how the productive resources are allocated for various goods and services. It also helps in solving the producers' dilemma of what to produce, how much to produce and for whom to produce. <33
Explanation:
The study of microeconomics helps the decision makers to analyze and determine how the productive resources are allocated for various goods and services. It also helps in solving the producers' dilemma of what to produce, how much to produce and for whom to produce.
Thomas planned to set up a business that build custom house for high net-worth customers in Upstate NY on January 1st, 2018. He would borrow $1,500,000 from a bank to invest in the business as star-up capital and receive a minimum salary of $5,000/month.
Here is the list of some related items or products that he would need to start the
business:
- Lumber
- Roof
- Concrete
- Insulation
- Ducting
- Paint
- Corporate office building
He needs to hire you as an accountant to help his financial and accounting work, and one supervisor who is in charge of the supervision of building custom houses. His business’ cost drivers are provided in Table 1.
Question 1.1 - Cost Classification (10 points)
Required: Thomas needs your help in classifying the various costs. In order to manage these costs, he wants them identified using the information below. He asked that you use Table 2 (page 3) for your answers.
a) Behavior: fixed or variable cost
b) Traceability: direct or indirect
c) Financial reporting: product or period
d) If product cost, identify which items are direct materials, direct labor or
manufacturing overhead.
Question 1.2 - Costing Systems (10 points)
Thomas discussed the business plan with you. He was told that there are three different types of costing systems that exist in organizations – job order, process costing and activity based costing.
Required: Which type of costing system is his business most likely to use? Discuss?
I have it completed just need to check my work... would appreciate the help as soon as possible.
Answer 1.1:
a) The behavior of the costs listed in the question can be classified as follows:
Lumber: Variable cost
Roof: Variable cost
Concrete: Variable cost
Insulation: Variable cost
Ducting: Variable cost
Paint: Variable cost
Corporate office building: Fixed cost
b) The traceability of the costs can be classified as follows:
c) The financial reporting of the costs can be classified as follows:
d) Lumber, roof, concrete, insulation, ducting, paint: Direct materials
Which type of costing system is his business most likely to use Discuss?Based on the information provided, it seems that Thomas' business is most likely to use a Job Order Costing System. This is because the business is building custom houses for high net-worth customers, which means that each house is unique and customized to the customer's specifications. This type of work is best suited for job order costing system, where the costs are accumulated for each specific job, and the cost of each custom house can be calculated separately. In contrast, Process Costing is used when the same products are being produced in large quantities, and Activity Based Costing is used to assign indirect costs to products or services based on the activities that go into producing them.
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The Hershey Company uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.
Work in process, beginning:
Units in process 3,750
Percent complete with respect to materials 80%
Percent complete with respect to conversion 20%
Costs in the beginning inventory:
Materials cost $6,711.00
Conversion cost $2,885.00
Units started into production during the month 21,400
Units completed and transferred out
Costs added to production during the month:
Materials cost $61,906
Conversion cost CA I Costs added to production during the month:
Materials cost $61,906
Conversion cost $543,602
Work in process, ending:
Units in process 900
Percent complete with respect to materials 66%
Percent complete with respect to conversion 48%
Required:
a. Determine the equivalent units of production for material and conversion.
b. Determine the costs per equivalent unit for material and conversion.
c. Determine the cost of ending work in process inventory.
d. Determine the cost of the units transferred to the next department.
Answer:
The Hershey Company
Materials Conversion
a. The equivalent units of production 24,844 24,632
b. Costs per equivalent unit $2.762 $22.186
c. The cost of ending work in process inventory is:
= $11,224.98
d. The cost of the units transferred to the next department is:
= $604,989
Explanation:
a) Data and Calculations:
Units Materials Conversion
Beginning work in process 3,750 80% 20%
Units started in the month 21,400
Units to be accounted for 25,150
Ending work in process 900 66% 48%
Units completed/transferred 24,250 100% 100%
Equivalent units of production:
Units Materials Conversion
Units completed/transferred 24,250 24,250 24,250
Ending work in process 900 594 432
Total equivalent units 24,844 24,632
Costs of production Materials Conversion Total
Costs of beginning WIP $6,711 $2,885 $9,586
Costs added during month 61,906 543,602 605,508
Total costs of production $68,617 $546,487 $615,094
Cost per equivalent unit:
Total costs of production $68,617 $546,487
Total equivalent units 24,844 24,632
Cost per equivalent unit $2.762 $22.186
Costs assigned to:
Materials Conversion Total
Units completed/transferred $66,978.50 $538,010.50 $604,989
(24,250 *$2.762) (24,250 * $22.186)
Ending work in process 1,640.63 $9,584.35 $11,224.98
(594 * $2.762) (432 * $22.186)
explain why and how management is dynamic
Answer:
Management has framed certain principles, which are flexible in nature and change with the changes in the environment in which an organization exits.
Jackson Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufacturing approach, the parts are machined through two processes: milling and finishing. Parts are produced in batch sizes of 50 parts. A part requires 3 minutes in milling and 7 minutes in finishing. The move time between the two operations for a complete batch is 8 minutes. Under the lean philosophy, the part is produced in a cell that includes both the milling and finishing operations. The operating time is unchanged; however, the batch size is reduced to 5 parts and the move time is eliminated. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the traditional and lean manufacturing methods. If required, round percentages to one decimal place.
Answer and Explanation:
The calculation is given below:-
Particulars Traditional Philosophy Manufacturing
Lean Philosophy
Value added 3 + 7 = 10 10
Non value added 10 × (50 - 1) = 490 10 × (5 - 1) = 40
Total lead time 500 50
Value-added ratio
(as a percent) 10 ÷ 500 × 100 = 2% 10 ÷ 50 × 100 = 20%
A company has budgeted direct materials purchases of $230000 in July and $400000 in August. Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month. During August, the following items were budgeted:
Wages Expense $60000
Purchase of office equipment 63000
Selling and Administrative Expenses 39000
Depreciation Expense 27000
The budgeted cash disbursements for August are:__________
Answer:
$511,000
Explanation:
The budgeted cash disbursements for August are :
Purchases - 70% x $400000 $280,000
Purchases - 30 % x $230000 $69,000
Wages Expense $60,000
Purchase of office equipment $63,000
Selling and Administrative Expenses $39,000
Total $511,000
Tanya (born 10-31-90) is single, has no dependents and will not itemize deductions. She cannot be claimed as a dependent by anyone else. Tanya can claim adjustments of $800 for her student loan interest and $1,200 for a contribution to her IRA. She had the following income:
If Tanya (born 10-31-90) is single, has no dependents and will not itemize deductions. She cannot be claimed as a dependent by anyone else. Tanya's adjusted gross income is: e. $23,564.
How to find the Adjusted gross income?Tanya Adjusted gross income (AGI)
Wages $22,594
Add Bank interest $320
Add Unemployment $250
Add Alimony (Pre 2018) $2,400
Total gross income $25,564
Claim adjustments:
Less Student loan interest ($800)
Less IRA (1,200)
Taxable income $23,564
($25,564 - $1800 - $1200)
Therefore we can conclude that her taxable income is the amount of $23564.
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The complete question is:
Tanya (born 10-31-90) is single, has no dependents and will not itemize deductions. She cannot be claimed as a dependent by anyone else. Tanya can claim adjustments of $800 for her student loan and $1200 for an IRA. She had the following income:
Wages $22,594
Bank interest $320
Unemployment $250
Alimony (Pre 2018) $2,400
What is her AGI?
Choose one answer.
a. None of theseb. $24,994c. $25,564d. $22,594e. $23,564
1. Normally, when buying a business, the seller:
does not sign a restrictive covenant.
notifies creditors 10 days prior to the sale of the business.
cannot assign his credit arrangements with suppliers to the buyer.
has little formal role or obligation in preparing documents and information necessary to the sale.
Answer:
C). cannot assign his credit arrangements with suppliers to the buyer.
Explanation:
As per the question, the 'seller is not able to allocate his credit adjustments associated with the suppliers to the potential buyer.' The seller must pay off and resolve his credit arrangements completely before selling off his property to the buyer. If he/she fails to do so, the buyer can sue him legally because the contract offers the asset or property to the buyer free of any previous credit adjustments with the seller. Thus, any such allocation would be considered illegal and cause damage to the seller and his image. Hence, option C is the correct answer.
Note that common skills are listed toward the top and less common skills are listed toward the bottom. According to O*NET, what are some common skills needed by Registered Nurses? Check all that apply.
coordination
social perceptiveness
active listening
equipment selection
equipment maintenance
installation
Suppose the current yield on a one-year zero-coupon bond is 4%, while the yield on a five-year zero-coupon bond is 6% Neither bond has any risk of default. Suppose you plan to invest for one year. You will earn more over the year by investing in the five-year bond as long as its yield does not rise above what level? (Assume $1 face value bond.) Hint: It is best not to round intermediate calculationsmake sure to carry at least four decimal places in intermediate calculations.
Answer:
is the question multiple choices or no
There are sixteen regional federal reserve banks.
false
true
The Federal Reserve Bank accepts deposits and withdrawals from individuals.
false
true
A bank run is when people rush to deposit money in their accounts thanks to a higher interest rate on
saving.
false
Inflation is the gradual and continued rise in the cost of goods and services over a period of time. In
other words, you get less for your money.
true
false
true
To be solvent is when an institution or individual is unable to honor their monetary obligations.
true
false
The correct answers for the given questions about Regional banks:
1. False, There aren't sixteen regional federal reserve banks.
2. True, The Federal Reserve Bank accepts deposits and withdrawals from individuals.
3. False, A bank run is not when people rush to deposit money in their accounts thanks to a higher interest rate on saving.
4. True, Inflation is the gradual and continued rise in the cost of goods and services over a period of time.
5. True, To be solvent is when an institution or individual is unable to honor their monetary obligations.
What is a Federal bank?There are 12 regional banks in the system, each named after the city in which they are headquartered. Banking supervision is the responsibility of the Board of Governors of the Federal Reserve Bank in Washington, D.C.
Each Federal Reserve district has facilities for receiving additional ineligible money deposits and processing foreign exchange orders.
When multiple customers of a bank or another banking institution withdraw their deposits at the same time out of concern for the bank's stability, this is called a bank run.
The rate at which prices rise over a period of time is called inflation. Inflation may be described in general terms such as: B. A general increase in prices or an increase in living standards. A company's ability to meet its long-term financial obligations is known as 'solvency'.
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Answer the question below. Use the rubric linked above for help if needed.
Think about the items that you use every day. Do you use inelastic goods? Do you use elastic goods? Give two examples of each type of good. Explain why you use each good and determine whether or not you
could survive without each good. Use details to support your answer.
Luxury products and particular foods and beverages are elastic goods because demand is influenced by price changes for them. Products like nicotine and prescription medications may be considered inelastic goods since the demand for them frequently remains constant despite price fluctuations.
What are the goods?The term Goods are products and resources that satisfy people's needs and wants. A good can be a natural science object, a provided service, or some accumulation of the two. Just about anything is good if it supplies some kind of benefit to consumers.
Electronics or clothing are examples of elastic goods, whereas food and prescription medications are examples of inelastic goods. Cross elasticity gauges how demand for one good changes in response to price changes for another, related good.
Therefore, Luxury items and specific foods and beverages are considered elastic goods since the demand for them is affected by price variations.
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Accounts receivable turnover. (Assume that all sales are on account.) (Round your answer to 2 decimal places.) 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 3. Inventory turnover. (Round your answer to 2 decimal places.) 4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.) 6. Total asset turnover.
Answer:
1. 7.38 times
2.49.46 days
3.5.81 times
4.62.82 days
5.112.78 Days
6. 1.64 times
Explanation:
1. Calculation to determine Accounts receivable turnover
First step is to calculate Account Receivable
Account Receivable = (beginning Account Receivables + ending Account Receivables)/2
Account Receivable = ( $9100+12300)/2
Account Receivable = $ 10700
Now let calculate the Account Receivables Turnover Ratio
Account Receivables Turnover Ratio = Sales / average Account Receivables
Account Receivables Turnover Ratio= $79000/10700
Account Receivables Turnover Ratio=7.38 times
2) Calculation to determine Average collection period
Average Collection Period = 365/ Account Receivables turnover ratio
Average Collection Period= 365 days /7.38
Average Collection Period=49.46 days
3) Calculation to determine Inventory turnover
First step is to calculate the Average Inventory
Average Inventory = (beginning inventory + ending inventory)/2
Average Inventory= ( $9700+8200)/2
Average Inventory= $ 8950
Now let calculate the Inventory Turnover Ratio
Inventory Turnover Ratio = Cost of goods sold / average inventory
Inventory Turnover Ratio= $52000/8950
Inventory Turnover Ratio= 5.81 times
4). Calculation to determine Average sale period.
Average Sales period = 365/ inventory turnover ratio
Average Sales period= 365 days /5.81
Average Sales period= 62.82 days
5). Calculation to determine the Operating cycle
Operating Cycle = Average Sales Period + Average Collection Period
Operating Cycle =49.96+62.82
Operating Cycle = 112.78 Days
6) Calculation to determine Total asset turnover
Fire step is to calculate the Average Assets
Average Assets = (beginning Assets + ending Assets)/2
Average Assets= ( $45960+50280)/2
Average Assets= $ 48120
Now let calculate the Assets Turnover Ratio
Assets Turnover Ratio = Sales / average Assets
Assets Turnover Ratio= $79000/48120
Assets Turnover Ratio= 1.64 times
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