Answer:
Inventory turnover= 3.25
Explanation:
Giving the following information:
Cost of merchandise sold $552,500
Inventories:
Beginning of year 200,000
End of year 140,000
<u>To calculate the inventory turnover, we need to use the following formula:</u>
Inventory turnover= Cost of goods sold/ average inventory
Average inventory= (beginning inventory + ending inventory) / 2
Average inventory= (200,000 + 140,000)/2= 170,000
Inventory turnover= 552,500/170,000
Inventory turnover= 3.25
Recording , tracking.....
<span>This is a modified premium life insurance policy. In this case, the premium (the price paid for the insurance during each time period) is fixed for a specific frame (at rates that are usually lower than average), but then (usually) increases after a certain number of months or years to a rate greater than the average.</span>
Answer:
The question is missing the amount of output units that each additional unit of labor generates, but we can calculate how many units each additional unit of labor should produce in order to maximize profit.
In order for a firm to maximize its profit, the marginal revenue product (MRP) = marginal cost (MC).
MRP = output units per additional unit of labor x price per unit = U x $9
MC = $700
U x $9 = $700
U = $700 / $9 = 77.78, so we round up to 78 units
In order to maximize profit, each additional unit of labor must generate 78 additional units of output.
