1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mars2501 [29]
2 years ago
14

The cost of goods sold computations for Alpha Company and Omega Company are shown below. Alpha Company Omega Company Beginning i

nventory $ 49,500 $ 71,000 Cost of goods purchased 200,000 299,000 Cost of goods available for sale 249,500 370,000 Ending inventory 57,000 73,000 Cost of goods sold $192,500 $297,000
Business
1 answer:
olya-2409 [2.1K]2 years ago
6 0

Answer:

Alpha Company:

  • inventory turnover ratio = 3.62
  • days in inventory = 101 days

Omega Company

  • inventory turnover ratio = 4.13
  • days in inventory = 89 days

Explanation:

                                         Alpha Company       Omega Company

Beginning inventory                $49,500                       $71,000

<u>Cost of goods purchased     $200,000                   $299,000 </u>

Cost of goods available

for sale                                   $249,500                    $370,000

<u>Ending inventory                     $57,000                      $73,000 </u>

Cost of goods sold                 $192,500                   $297,000

inventory turnover rate = cost of goods sold / the average inventory

average inventory = (beginning inventory + ending inventory) / 2

days in inventory = 365 days / inventory turnover ratio

                                          Alpha Company             Omega Company

average inventory                  $53,250                         $72,000

inventory turnover         $192,500 / $53,250      $297,000 / $72,000

                                           = 3.62                              = 4.13

days in inventory             365 / 3.62                        365 / 4.13

                                        = 100.83 ≈ 101 days          = 88.38 ≈ 89 days

You might be interested in
Mobray Corp. is experiencing rapid growth. Dividends are expected to grow at 26 percent per year during the next three years, 16
SVEN [57.7K]

Answer:

D1 = 2.39

Explanation:

Expected Dividend can be found out by solving the following equation attached in the image.

In the formula D1 = expected dividend, Gs = 26%, Gm = 16%, gL = 7%, r =12%

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.  

5 0
3 years ago
To decide how much an insurance policy should cost a customer, underwriters use ________, such as historical industry trends and
alekssr [168]

When deciding the cost of an insurance policy being applied to the customer, then the underwriting experts used the concept of data analytics.

Option C is the correct answer.

<h3>What is underwriting?</h3>

Underwriting is the act where the underwriters confirm the loan approval after analyzing the debt, income, and assets of the borrower.

The concept of data analytics is one of the processes applied to analyze the data along with collection and modeling. it helps the underwriters to figure out the conclusions based on the trends and patterns of the data.

Therefore, data analytics is the tool that underwriters used to compute the cost of insurance policy for the customer.

Learn more about the underwriting in the related link:

brainly.com/question/24988092

#SPJ1

6 0
2 years ago
Madison Corporation reported taxable income of $400,000 in 20 X 3 and accrued federal income taxes of $136,000. Included in the
salantis [7]

Answer:

A. $424,000

Explanation:

current income = Taxable income - Federal tax + Depreciation disallowed + net capital loss carryover          

= $400,000 - $136,000 +  ($200,000 - $60,000) + $20,000

=  $424000

Therefore, The corporation's current earnings and profits for 20X3 would be $424000.

8 0
3 years ago
A theory asserts that consumers will purchase less of a good at higher prices than they will at lower prices.
FrozenT [24]

Answer:

b. It is likely that variables other than the price and quantity of cars demanded were

changing.

Explanation:

The law of demand states that the higher the price of a good, the lower the quantity demanded and the lower the price of a good, the higher the quantity demanded.

If price of cars was increasing and the quantity demanded also was increasing, it indicates other variables were changing. For example, if income was increasing at the time, the demand for cars would increase if cars are normal goods.

I hope my answer helps you

4 0
3 years ago
During April, Cavy Company incurred factory overhead as follows:Indirect materials $10,500Factory supervision labor 4,000Utiliti
Artist 52 [7]

Answer:

Date            Account Title                                       Debit          Credit

April             Factory Overhead                           $16,720

                    Indirect materials                                                    $10,500

                    Wages payable                                                       $4,000

                     Utilities payable                                                     $  500

                    Accumulated Depreciation                                    $  620

                    Small tools                                                               $ 370

                     Equipment rental                                                   $ 730

3 0
3 years ago
Other questions:
  • The Supply/Demand equilibrium price is __________ with an equilibrium quantity of _________. PRICE Column 1 Quantity Column 2 Qu
    12·1 answer
  • Arlene makes earrings in the shape of the mascot of a local university. Last year Arlene made 250 pairs of earrings, which she s
    6·1 answer
  • In November 2006, Citigroup's stock (NYSE: C) was trading at $49.59. Following the credit crisis of 2007-2008 and by the end of
    10·1 answer
  • On January 1, 2021, a company purchased a machine that cost $500,000 and had a residual value of $50,000. The machine is expecte
    12·1 answer
  • If a sample of items is taken and the mean of the sample is outside the control limits, the process is: in control, but not capa
    11·1 answer
  • You’ve received your raise pool for the year and it’s not as big as you had hoped. You fear that you won’t be able to provide th
    9·1 answer
  • During the swing era, economically speaking, American labor industries increasingly turned to _______ and ______ to make the eco
    5·1 answer
  • 5. A firm currently produces its desired level of output. Its marginal product of labor is 400, its marginal product of capital
    7·1 answer
  • The government decides to place a tariff on platinum imports because it determines that mining practices abroad are not as stric
    15·1 answer
  • The communication process begins with a(n) ______, the person who ______ a message.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!