Answer:
3.8 times
Explanation:
Inventory turnover indicates how many times a company sells and replaces its stock of goods during a particular period. The formula for inventory turnover ratio is the cost of goods sold divided by the average inventory for the same period.
$ 320,000 / 63,000 = 5.1 times in 2022
$283,500 / 32,000 = 8.9 times in 2023
Therefore inventory turnover increase as a result of the switch to the JIT system by 8.9 times - 5.1 times = 3.8 times
Answer:
46%of Americans couldn't come out with $400 in an emergency
Answer:
$355 unfavorable
Explanation:
Budgeted supplies cost was [$1,860 + (635 frames x $ 11)] = ($1,860 + $6,985) = $8,845
Actual supplies cost was $9,200, so the variance was = budgeted cost - actual cost = $8,845 - $9,200 = $355 unfavorable
Since the actual supplies cost was higher than the budgeted supplies cost, then the variance must be unfavorable (because more money was spent than expected).
Answer:
Contribution margin per unit= $7.5
Explanation:
Giving the following information:
Each radio sells for $23.75 and the variable cost per unit is $16.25.
The contribution margin is the difference between the selling price and the unitary variable cost:
Contribution margin= selling price - unitary variable cost
Contribution margin= 23.75 - 16.25
Contribution margin= $7.5
