Length of inventory period = Average Inventory / Cost of goods sold * 365 days
Average Inventory = (Beginning Inventory + Ending Inventory) / 2
= $45,500
Length of inventory period = Average Inventory / Cost of goods sold * 365 days
= $45,500 / $684,000 * 365
= 24.3 days
Answer:
Direct labor.
Direct materials.
Manufacturing supplies.
Wages for the production staff.
Fuel or power consumption.
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The adjusting journal entries to record the adjustments in the books of Scott Company are as follows:
<h3>Journal Entries:</h3>
December 31;
Debit Sales $98,800
Credit Cash Refundable $98,800
- To record expected cash refunds.
Debit Inventory $48,000
Credit Cost of goods sold $48,000
- To record expected merchandise returns.
<h3>Data Analysis:</h3>
Sales = $12,350,000
Cost of goods sold = $7,500,000
Estimated percentage refunds = 0.8% of sales
Expected Refunds = $98,800 ($12,350,000 x 0.8%)
Returned goods = $48,000
Sales $98,800
Cash Refundable $98,800
Inventory $48,000
Cost of goods sold $48,000
Learn more about adjusting journal entries at brainly.com/question/13933471
Answer: $690,044
Explanation:
First calculate WACC.
Total capital = 10 + 8 = $18 million
WACC = (Weight of debt * after-tax cost of debt) + (weight of equity * cost of equity)
= (8/18 * 3%) + (10/18 * 15%)
= 9.67%
Using the WACC, find the present value of the cashflows for the next 5 years. This will be an annuity.
= 180,500 * (1 - (1 + r) ^-n)/r
= 180,500 * ( 1 - ( 1 + 9.67%) ^ -5)/9.67%
= $690,044.67
= $690,044
They should pay no more than this present value.
Answer:
Total Asset Turnover: 2.2857
Explanation:
<u>Total Assets</u>
Begininng Balance 2,450,000
Ending Balance 2,800,000
Period activity 350,000
<u>Sales:</u> 6,000,000
<em><u>Total Asset Turnover</u></em>: <u> </u><em><u> Sales </u></em>
<em> Average Total Assets</em>
<u> 6,000,000 </u>
( 2,450,000 + 2,800,000 ) / 2
=
<u>6,000,000</u>
2,625,000
=
<u>2.2857</u>