Answer:
We know the average inventory was 7,650 and the cost of goods sold through out the yer were 76,500.There are about 52 weeks in a year. If the company closes for 2 weeks, then they are in business for 50 weeks a year.
If we divide the cost of goods sold by the number of weeks that the company is open, we get what is the cost of goods sold each week.
76,500/50= 1,530
The company has 1,530 of cost of goods sold each week. And their average inventory is of 7650 so if we divide average inventory by the cost of goods sold each week, we will get how many weeks of supply is held in inventory.
7650/1530=5
The company holds 5 weeks of supply in inventory.
Explanation:
The answer is: C.accrual basis of accounting
Accrual basis of accounting would record a certain transaction as soon as it happen, even though an exchange of payment has not been made. Compared to any other basis, accrued basis tend to the most likely to represent the actual financial condition of a company. This is why this basis is used as the current industry standard.
Answer:
The journal entry to record the sale :
Debit : Note Receivable $120000
Credit : Sales Revenue $120000
Explanation:
The journal entry to record the sale includes a Debit entry of a Note Receivable at the amount owed by the customer since there was no immediate payment of cash and a Credit entry of Sales Revenue to recognize Income earned.
Answer:
A)Software development employees will receive customer feedback about whether the products are helpful to students.
B)Software development employees will have opportunities to tell the research and marketing departments if a new product idea cannot be brought to market in a timely or cost-effective manner.
C)Instead of getting orders from the top management about what products to make, based on what the research department recommends, software development employees will participate on teams that collect data and make decisions.
Explanation:
Horizontal linkage model, gives room to departments in an organization to have relationship in working out new product such as commercial products.horizontal linkage model gives room for a good relationship between worker/employee within a particular organization.
If the company uses the horizontal linkage model, the software development department are expected to do its work by taking actions such as;
✓Receiving feedback from customers about how helpful the product is to the consumer of it.
✓ the relationship the model create will allow the software development employees to communicate with research and marketing departments
if new product ideals cannot be brought to market in a timely or cost-effective manner.
✓development employees will
have a team parformance, to collect data and make decisions.
In Accounting there are four types of costs: <span>direct, indirect, fixed, variable and operating </span>costs<span>.
</span>Direct cost is the material, labor, expense, or distribution cost required to produce the product.<span>
Fixed costs are </span>cost of building a factory, insurance and legal bills.
opposite to fixed costs, a variable cost <span>occurs when the amount used varies based on the volume of service provided.</span>
